TheDinarian
News • Business • Investing & Finance
Could Big Brother EU digital identity laws impact digital euro privacy claims?
November 13, 2023
post photo preview

On Thursday, the EU Council and Parliament reached a provisional agreement on a new framework for a European digital identity (eID) known as eIDAS2.0. A key part of the new legislation is to provide digital wallets linked to national digital identities. However, more than 500 cybersecurity and privacy specialists signed a letter objecting to the draft law shortly before signature. With privacy as one of the key concerns around a digital euro, passing controversial legislation claimed to enable Big Brother surveillance won’t help.

The letter asserts the legislation would enable a single government to snoop on all EU citizens’ web browsing. And the wallet lacks an important privacy safeguard. It needs to make it compulsory to prevent linking separate pieces of data about an individual. 

Amongst the signatories to the letter are the Electronic Frontier Foundation and hundreds of academics from around the world. More than a dozen industry members wrote a separate, less emotive letter objecting to the change that potentially enables web browsing surveillance. The industry letter avoids mentioning snooping but highlights the likelihood of fragmenting the internet – some websites may not be available to EU citizens. Signatories include Akamai, Cisco, Cloudflare, the Linux Foundation and Mozilla.

Note: we would usually review draft legislation ourselves before publishing an article. However, the latest draft is unavailable. We hope to add it soon. Hence, we are relying on third party statements made in the letter. Both of the two points covered here are late additions because they are not in the March eIDAS draft.

Opening the door to Big Brother surveillance

It’s not uncommon for parents to check which websites their teens visit. According to Pew Research, 61% of parents do so. Now imagine an unauthorized third party doing that. And not just seeing which websites the teens visited but exactly what they looked at and how they interacted.

Many employees are unaware that corporate computers often can do just that – monitor all browser activity. Whether they do or not is another matter.

The EFF and other letter authors believe the legislation potentially gives that same ability to any EU government. And not just to snoop on their own citizens but on any person using a browser. Hence, if the EU passes the legislation as currently drafted, that will result in EU citizens having to download special web browsers. Apple, Google and Mozilla aren’t going to allow the EU to potentially snoop on global traffic.

How Big Brother web snooping works

When you visit a website, the padlock in the browser’s address bar indicates it’s encrypted using security certificates. What if someone was capable of switching all the certificates of all the websites you view? Then they can see everything you see. Including all your bank details, the data on the health website you visited, your chats, or anything else.

A website’s security certificate is issued by a certificate authority – usually a company. Google Chrome trusts sixty or so certificate authorities. There are multiple parts to security certificates, one being the root certificate of the certificate authority. That’s the element that gives the issuer the ability to switch any certificate and snoop on anyone’s web traffic. That’s not limited to the websites for which they issued security certificates. Hence browser developers want to be able to remove root certificates and issuers if they misbehave. 

Earlier this year, Google removed TrustCor’s certificates from Chrome. It followed a Washington Post article alleging links between TrustCor and U.S. intelligence agencies.

The EU wants the right for EU governments to specify root certificate providers. Additionally, it doesn’t want browser developers to be able to remove them if they misbehave. There’s a formal process – to remove a provider, a web browser has to have the approval of the government that listed the provider in the first place

Undoubtedly the EU has a valid reason for wanting to add its own certificate authorities. The question is whether it understood the ramifications. Either way, that’s concerning.

Wallets and linking data

Meanwhile, EU digital wallets will initially store digital identity. When the digital euro is inevitably issued it will be stored in wallets. An eIDAS wallet could also store your health, financial and other data. Most of it is likely to be very personal. 

One of the key issues with identity is preventing cross linking of information. So if every piece of data that you share uses the same identifier – not necessarily your name – if you share data with different people, there’s potential to aggregate that data. 

Earlier this year, the EU’s data protection watchdog raised concerns about cross linking data. “This identifier inherently creates risks for individuals, such as full and possibly unnecessary ability to link personal data across sectors and actors, wide consequences in case of identity theft, surveillance, and of course abuse by marketing practices,” said Wojciech Wiewiórowski European Data Protection Supervisor in a February speech.

An earlier draft of Clause 6 stated that “European Digital Identity Wallets shall ensure security-by-design.” However, the EFF letter highlights that a recent draft proposes a block on linking, but fails to mandate it.

Despite the EU Council and Parliament agreement, the legislation is not yet final so there’s still an opportunity to address the issues.

An opinion

Ledger Insights aims to provide impartial coverage where possible. However, when it comes to privacy we believe this is a fundamental right.

There are plenty of conspiracy theories circulating about digital currencies and the like. In most (not all) cases, we believe that central banks have no intention to snoop on citizens. However, if the infrastructure is not appropriately designed it can provide the foundations for future malevolent leaders to surveil and restrict citizens at will.

Why does this legislation undermine the digital euro’s planned privacy? Because the EU certificate requirement would make it possible to snoop on every transaction via the web.

Intentional or not, if this legislation is passed as drafted per the EFF letter, it could provide the EU with Chinese level surveillance abilities.

Link

 

 

 

community logo
Join the TheDinarian Community
To read more articles like this, sign up and join my community today
0
What else you may like…
Videos
Podcasts
Posts
Articles
Why the global financial system needs ISO 20022?

SWIFT: “Why the global financial system needs ISO 20022?”😶‍🌫️

OFFICIAL ISO 20022 VIDEO CONFIRMS DIRECT INTERACTION BETWEEN ISO MESSAGES AND DISTRIBUTED LEDGER TECHNOLOGY (DLT)Watch closely.👇

Source: Smqkedqg

00:02:21
Are we at the top of the cycle?

👉@_dsencil: “This might be the blow-off top phase.”

👉@graminitha1: “You may be near the end in time, but the biggest price moves come last.”

Where do we go from here?

From Token Narratives ep. 66

https://x.com/BTCTN/status/1958952811888099584

00:01:18
🇺🇸 Sen. Lummis breaks down the CLARITY Act

NEW: 🇺🇸 Sen. Lummis breaks down the CLARITY Act, and the path to being passed.

Lummis:🎙️"The Clarity act is the ultimate base bill."

00:01:11
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading

Pyth Network & Chainlink Data That Is!😉

🚀 DEPARTMENT OF COMMERCE POSTS GDP DATA ON STELLAR BLOCKCHAIN 🚀

For the first time in U.S. history, the Department of Commerce has begun publishing official economic data, including quarterly GDP figures, on the Stellar blockchain. This milestone makes critical economic statistics immutable, publicly auditable, and globally accessible through a trusted decentralized ledger.

🔑 Key Highlights

  • Government Transparency: Posting GDP data on Stellar provides an immutable record, ensuring any attempts at data manipulation on traditional sources would be immediately evident against the blockchain record.

  • Multi-Chain Deployment: The Commerce Department is publishing GDP data not only on Stellar but also on Ethereum, Bitcoin, Solana, Avalanche, and other leading public blockchains—making the data widely accessible.

  • Enabling DeFi and Financial Innovation: Onchain GDP data creates new opportunities for decentralized finance, such as ...

🚀 BROADER MARKET TRENDS AND PRICE MOVEMENTS IN 2025 🚀

The overall cryptocurrency market has witnessed a strong rebound in 2025, marked by significant gains in total market capitalization, outperforming traditional financial benchmarks and showcasing growing institutional interest.

🔑 Market Highlights

  • Market Capitalization Growth: Total crypto market capitalization has risen by 9.9% year-to-date and surged 58% compared to the previous year, demonstrating robust recovery and investor confidence.

  • Ethereum (ETH) Outperformance: Ethereum has been a standout performer among major assets, with a 36% increase, driven by continued ecosystem development and increased real-world applications.

  • Bitcoin (BTC) Gains: Bitcoin has returned 18% year-to-date, holding strong as the market leader and safe-haven crypto asset, despite some short-term price dips below $108,000 USDT.

  • Institutional Inflows: Crypto ETFs have attracted more than $28 billion in net inflows during 2025, with ...

post photo preview
The 'UFO Scientist' of the U.S Space Force

Guest: Dr. Salvatore Cezar Pais,
Aerospace Engineer, Physicist & Inventor,
TS/SCI Cleareance, USN, USSF, NAVAIR

post photo preview
US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
post photo preview
List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

Read full Article
post photo preview
Pyth Network (PYTH) To Rally Higher? This Emerging Fractal Setup Saying Yes!

The cryptocurrency market is undergoing a healthy cooldown as Ethereum (ETH) eases to $4,440 from its recent peak of $4,780. The pullback has weighed on most major altcoins — including Pyth Network (PYTH) — which is down about 5% over the past week.

But while the short-term dip might look discouraging, PYTH’s chart is showing something far more interesting: a price structure that mirrors the exact same bullish breakout pattern that sent Skale (SKL) soaring by triple digits earlier this month.

PYTH Mirrors SKL’s Breakout Structure

A glance at SKL’s daily chart reveals a textbook falling wedge formation — a well-known bullish reversal pattern. Once SKL broke above the wedge and printed a higher high followed by a higher low, it flipped both the 200-day and 100-day moving averages into firm support. That technical shift triggered a 148% rally in just days.

PYTH appears to be tracing the same path.

Like SKL, PYTH has already broken out from its falling wedge and formed a higher high and higher low. It is now consolidating just beneath a critical confluence of resistance, with the 100-day MA at $0.1235 and the 200-day MA at $0.1481 — a setup eerily similar to SKL’s pre-breakout structure.

What’s Next for PYTH?

For the bullish fractal to fully play out, PYTH will need to close decisively above the $0.1235–$0.1481 zone, ideally on rising volume. A confirmed breakout could open the door to the first upside target of $0.21, representing roughly 78% potential gains from current levels.

However, confirmation is key. Until PYTH clears these moving average hurdles, it remains vulnerable to extended consolidation or even a false breakout. Still, the fractal similarity to SKL is hard to overlook — and if history repeats, PYTH bulls could be on the verge of a major move.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Read full Article
See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals