Seven facts about eIDAS you need to know now
On 1 July 2016, eIDAS, the ‘Regulation on electronic identification and trust services for electronic transactions in the internal market’, came into effect in all EU Member States. It aims to standardize and simplify digital trust services, such as electronic signatures, across the European Union. Thanks to eIDAS, electronic signatures are now possible for the first time without a signature card and reader.
Concluding a sales contract abroad, sending employment contracts electronically within the EU or signing documents digitally and legally secure – eIDAS is paving the way for the digital transformation of Europe's economy. What else you do need to know about the regulation? We have summed this up below:
1. eIDAS is the foundation for the digital internal market.
The regulation ensures secure, trusted digital transactions and electronic identification between companies, public authorities and citizens. This not only makes it possible to harmonize all the individual national markets in the EU, cross-border digital management is now also within reach.
2. eIDAS supersedes all national regulations.
If legal regulations within an EU Member State contradict the requirements of eIDAS, these regulations then have to be adapted to eIDAS. This ensures that the same conditions apply to everyone. In Germany, for instance, the law implementing the eIDAS Regulation came into force on 29 July 2017.
3. eIDAS leads to economic growth.
That’s because eIDAS promotes the digitalization of business processes. This can result in improved efficiency, lower costs and greater customer satisfaction. When companies work more efficiently, they also earn more money. The introduction of eIDAS is expected to lead to additional economic output potentially amounting to EUR 415 million. What’s more, up to 3.8 million additional jobs are also expected.
4. eIDAS replaces the good old stamp.
Company stamps or official seals are no longer needed thanks to eIDAS: The electronic seal ensures the origin and integrity of electronic documents and proves that the documents come from a specific legal entity.
5. Signatures go digital with eIDAS.
With eIDAS, the handwritten signature of a human being becomes the electronic signature. And that’s already possible now: As one of the first providers in Germany, Bundesdruckerei has integrated the new eIDAS-compliant mobile signature into sign me.
6. Germany has a total of eleven qualified trust service providers.
Trust service providers, such as Bundesdruckerei's subsidiary D-TRUST, which meet all eIDAS requirements, are listed as qualified trust service providers in the so-called national Trusted Lists. Every provider of trust services, time stamps and seals must be certified according to the eIDAS regulations in order to be included in this list. Users of the trust services can be certain that the selected provider meets all eIDAS requirements.
7. eIDAS is good for climate.
The electronic signature eliminates the need to travel, for example, when a contract is signed. Unnecessary air travel becomes a thing of the past. In addition, thousands of documents no longer have to be sent by post.