The document discusses the European Union's plans to introduce a digital identity system for all EU citizens and residents. It will provide a digital wallet that can be used to securely identify oneself online and share credentials and personal information with public and private services across the EU. This digital identity aims to make online interactions more convenient, secure and privacy-respecting for both individuals and businesses in the EU single market. It is expected to unlock new opportunities and drive cost savings by simplifying identity verification and document sharing in a digital context.