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Could Big Brother EU digital identity laws impact digital euro privacy claims?
November 13, 2023
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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.

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🎬Proof the Deep State Planned This War for Years🎬
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Dear friend,

What just happened in Iran wasn’t a surprise attack. It wasn’t a last-minute decision. It wasn’t even Israel acting alone.

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The Possible Impact Of USDC On The XRP Ledger And RLUSD
Key Points
  • It seems likely that USDC on the XRP Ledger (XRPL) boosts liquidity, benefiting XRP, though some see it as competition for RLUSD.
  • Research suggests both stablecoins can coexist, enhancing the XRPL ecosystem.
  • The evidence leans toward increased network activity being good for XRP, despite potential competition.

The recent launch of USDC on the XRP Ledger has sparked discussions about its impact on the ecosystem, particularly in relation to RLUSD, Ripple's own stablecoin. This response explores whether this development is more about competition for RLUSD or if it enhances liquidity on the XRPL, ultimately benefiting XRP.
 

Impact on Liquidity and XRP

The introduction of USDC, a major stablecoin with a $61 billion market cap, likely increases liquidity on the XRPL by attracting more users, developers, and institutions. This boost can enhance DeFi applications and enterprise payments, potentially driving demand for XRP, the native token used for transaction fees. While some may view it as competition for RLUSD, the overall effect seems positive for the XRPL's growth.
 

Competition vs. Coexistence with RLUSD

USDC and RLUSD cater to different needs: USDC appeals to those valuing regulatory compliance, while RLUSD, backed by Ripple, may attract users preferring ecosystem integration. Research suggests both can coexist, increasing options and fostering innovation, rather than purely competing.
 

Detailed Analysis of USDC on XRPL and Its Implications

The integration of USDC on the XRP Ledger (XRPL), announced on June 12, 2025, by Circle, has significant implications for the ecosystem, particularly in relation to RLUSD, Ripple's stablecoin launched in 2024. This section provides a comprehensive analysis, exploring whether this development is more about competition for RLUSD or if it enhances liquidity on the XRPL, ultimately benefiting XRP.
 

Understanding RLUSD and Its Role

RLUSD, Ripple's stablecoin, received approval from the New York Department of Financial Services (NYDFS) in 2024 and is designed to be fully backed by cash and cash equivalents, ensuring stability. It is available on both the Ethereum and XRP Ledger blockchains, aiming to enhance liquidity, reduce volatility, and serve cross-border payments. With a current market cap of $413 million, RLUSD is smaller than USDC's $61 billion but has regulatory credibility, particularly appealing to institutions.
 

Impact of USDC on the XRPL

The launch of USDC on the XRPL is a significant development, given its status as the second-largest stablecoin by market cap.
 
Key impacts include:
  • Liquidity Boost: USDC's integration can attract more users, developers, and institutions, increasing overall liquidity. This is crucial for DeFi applications, as Circle's announcement emphasizes its use in liquidity provisioning for token pairs and FX flows.
  • Increased Utility: USDC enhances the XRPL's utility for enterprise payments, financial infrastructure, and DeFi, potentially making it more attractive for global money movement and transparent settlements.
  • Regulatory and Institutional Appeal: As a regulated stablecoin issued by Circle, USDC can bring institutional users to the XRPL, aligning with Ripple's goals for regulated financial activities.
  • Network Growth: Supporting a widely recognized stablecoin like USDC on 22 blockchains, including the XRPL, increases the network's visibility and adoption, potentially driving more activity.

Competition vs. Complementarity with RLUSD

While USDC's launch could be seen as competition for RLUSD, the evidence suggests a more nuanced relationship:
  • Competition: Both are stablecoins on the XRPL, and USDC's larger market presence ($61 billion vs. RLUSD's $413 million) might attract users and developers away from RLUSD. However, competition can drive innovation, such as lower fees or better services, benefiting the ecosystem
  • Complementarity: Different stablecoins cater to different needs. USDC appeals to users valuing regulatory compliance and widespread adoption across multiple blockchains, while RLUSD, backed by Ripple, may attract those preferring ecosystem integration and regulatory approval from NYDFS. The XRPL can benefit from having multiple options, increasing liquidity and fostering a diverse ecosystem.
  • Coexistence Benefits: Research suggests that having multiple stablecoins enhances liquidity and provides users with more choices, potentially leading to higher network activity. For example, institutions might use USDC for global payments and RLUSD for specific XRPL-integrated applications, creating a symbiotic relationships.

Impact on XRP

The introduction of USDC, alongside RLUSD, is likely beneficial for XRP, the native token of the XRPL, for several reasons:
  • Increased Liquidity and Activity: Higher liquidity on the XRPL, driven by both stablecoins, can increase transaction volumes. XRP is used for transaction fees, with some fees burned, potentially reducing supply over time and increasing demand.
  • DeFi and Enterprise Use Cases: Both USDC and RLUSD enhance DeFi and enterprise applications, such as liquidity pools and cross-border payments, which can drive demand for XRP as a settlement token.
  • Network Growth: A more liquid and active XRPL is more attractive to developers and users, potentially leading to long-term growth for XRP, as increased utility can drive its value.
Expert analyses, such as those from u.today and ledgerinsights.com, suggest the launch is a "massive boost" for liquidity and adoption, with RLUSD also playing a significant role.
 

Comparative Analysis: USDC vs. RLUSD

To further illustrate, consider the following table comparing key attributes:
 
Given the evidence, it is more accurate to view the introduction of USDC on the XRPL as beneficial for liquidity, which is ultimately good for XRP, rather than solely as competition for RLUSD. The XRPL benefits from increased options, with both stablecoins enhancing liquidity, utility, and network growth. While some competition exists, the overall impact is positive, fostering a robust ecosystem that can drive demand for XRP. This conclusion aligns with expert analyses and community discussions, acknowledging the complexity of the stablecoin market within the XRPL.
 

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