(JustPatriots.com)- Six European countries are promoting a new, digital cross-border payment system that would eventually incorporate a digital euro and the EU Digital Identification scheme.
Multinational financial institutions, sizable technological companies, and other governmental organizations from all across Europe are supporting the NOBID (Nordic-Baltic eID) project, which is led by the governments of Denmark, Germany, Iceland, Latvia, and Norway.
According to NOBID’s website, the concept was created by the unelected European Commission and sounded uncannily like the social credit systems employed by nations like Communist China.
According to them, “The payment use case is identified as a crucial use case based on several justifications, one of which is the perspective extension to the Digital Euro.” In its current state, the initiative is expected to serve as a bridge between banks and retailers by connecting national bank accounts to the consolidated application.
Such efforts can significantly aid in advancing final implementation because the Digital Euro has not yet been implemented and is steadily looking to enable its deployment in a peer-to-peer environment. By the end of 2023, a prototype version of the Digital Euro currency issued by the ECB might be in use.
The consortium’s project manager, Tor Alvik, declared, “We are immensely excited to convert the EU vision into a reality and make smoother, more easily accessible ID services feasible for all,” formally establishing the connection between the EU DigitalID System and the Digital Euro.
Since the start of the COVID-19 program, the European Digital Identity has been in development. It merges numerous forms of personal identification, including birth certificates, medical records, bank accounts, tax reports, educational statuses, and prescriptions. The EUiD aims to serve as the central authority for identification in both the real and digital worlds, as The National Pulse has reported.
As a second layer to the EU Digital ID system, various European consortiums and businesses are working on numerous projects. iProov specializes in biometric authentication systems and has patented key biometric ID technologies that governments and corporations use. The company specializes in several areas like facial recognition, deep fake threat detection, passwordless authentication, immunization status verification, and more. iProov is a member of the NOBID group.
Concerns regarding dangers to privacy and individual liberty are developing as more services are integrated on top of the EUiD. People have endured severe infringement of their freedoms throughout Europe due to COVID’s advancements, which were ordered by technocratic leadership at both the national and supranational levels.