The third ETEKIN meeting, held at the Torre BAT in Bilbao, has explored the implications of the digital euro and digital wallets for daily life. The event featured speakers Xabier Arrieta and Óscar Guadilla from the Basque Government's IT Society (EJIE), alongside Alaitz Zabala, a professor at the University of Deusto.
ETEKIN is a series of financial meetings organised by Bankoa ABANCA, CaixaBank, the Basque College of Economists, the Basque Government, the Basque Institute of Finance, Kutxabank, LABORAL Kutxa, and Rural Kutxa. As digital payments and identification become increasingly prevalent, the development of the digital euro and digital wallets presents new opportunities, while also raising concerns about privacy, security, trust, and the digital divide.
Insights from the speakers
Under the theme "Digital euro and European wallet: challenges and opportunities," the speakers analysed how digital transformation could reshape payments, digital identification, and interactions with government and businesses. They discussed three key tools related to this transformation:
- The digital euro, which enables digital payments using money from the European Central Bank.
- The European digital wallet, designed to manage identity, titles, certificates, and other digital credentials.
- NIK Patrika Digitala, which provides digital identification, administrative procedures, and access to various digital services in the Basque Country.
Xabier Arrieta highlighted the practical applications of these tools in everyday life. He noted that linking digital identity with various services could simplify interactions with government. He stated, "One of the main challenges for the future will be the actual use of digital wallets. Tasks like collecting medication, accessing sports facilities, or opening waste bins are already in progress and used daily by society. By connecting digital identity with mobile devices, we could rent a car using our digital driving licence or apply for a job with our digital university degree, among other possibilities."
Óscar Guadilla discussed the technological aspects, focusing on security and interoperability. He explained that users would have visibility over what data they share and with whom, as well as the ability to revoke shared information. He noted that technologies such as "verifiable credentials" used in NIK are already prepared, and a significant European challenge will be to establish common standards and trust frameworks across different countries and administrations.
Alaitz Zabala emphasised the social and academic dimensions of this transformation, arguing that it represents more than just the digitisation of documents and payment methods. She stressed the importance of privacy and data control, as well as the need for measures to ensure that individuals facing difficulties in using digital tools are not excluded. The speakers unanimously agreed that trust, privacy, and security are crucial for the widespread adoption of these technologies. They also warned that digitalisation could exacerbate the digital divide and that digital services should not be the sole means of identification.
The ETEKIN meeting concluded with a roundtable discussion led by journalist Joseba Olagarai, aimed at promoting the topic from various perspectives. A light lunch was provided, facilitating the exchange of opinions among participants and strengthening networking opportunities.
