eIDAS regulation - What should you expect ?
The new EU eIDAS regulation that oversees electronic identification and trusted services will be enforced from July 2016.
What is eIDAS about?
The EU does not currently – at time of writing – have a common standard for overseeing e-identification and trusted services for electronic transactions. Individual EU members possess their own respective legislation, but the new eIDAS regulation will standardise the various EU procedures – centralising digital verification systems and digital signatures.
Electronic authentication systems:
From July, EU states must recognise electronic identification systems of other EU members once it has been verified by an approved and listed Certificate Authority – to be published following a security audit and a compliance check.
The new eIDAS regulation recognises and defines approved digital signatures through 3 levels of recognition: “standard digital signature”, “advanced digital signature” or “qualified digital signature”.
How does eIDAS affect your company?
eIDAS aims to make trading with the EU easier and most EU transactions are expected to impacted directly, for example:
- Tender a business bid in the EU by signing an agreement with a EU based country – Without worrying about the legal framework of where the contract is signed
- Hire European individuals regardless of their EU country of origin – speeding up the process
- Provide digital documents with legal weight and lower costs (processing time, storing physical documents, etc.)
- Contract European companies without any physical travelling requirements – Dematerialising physical procedures.
Conclusion – how your company benefits from eIDAS
- Simplified process – Increasing productivity as a result
- Enhanced verification from trusted 3rd party authorities
- Formal recognition of digitally signed – soft copy – documents
- Legal acceptance of digital signatures.
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