The European Parliament and the Council of the European Union reached a final agreement this week on the establishment of “European Digital Identity Wallets,” the first central and fully digital identification system for all Europeans.

“Under the new law, the EU will offer its citizens so-called ‘digital wallets’—on a voluntary basis, at first—which will contain digital versions of their ID cards, driving licenses, diplomas, medical records, and bank account information,” the European Conservative reported.

These documents will be recognized as means to access online services throughout Europe, and citizens will be able to prove their identity or share electronic documents from their wallets “with a click of a button,” the legislators hope.

“This marks an important step towards the Digital Decade 2030 targets on the digitalization of public services,” the EU Commission said in a statement Wednesday.

“All EU citizens will be offered the possibility to have an EU Digital Identity Wallet to access public and private online services in full security and protection of personal data all over Europe.”

The agreement reached by the co-legislators is now subject to formal approval by the European Parliament and the Council.

Once formally adopted, the European Digital Identity framework will enter into force on the 20th day following its publication in the Official Journal.

The agreement came just a few weeks after Christine Lagarde, the head of the European Central Bank, announced that the European Union was moving forward with the development of its new central bank digital currency (CBDC)—the digital Euro.

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