We just went through the process of creating an electronic ID for ourselves with the myColorado mobile app. The process was mostly intuitive and easy. From what we’ve read, this form of ID will be legal in Colorado as of December 1, 2019. It is also our understanding that these new electronic IDs are not accepted by federal agencies (the TSA, for example).
For more, check out this article in the Coloradoan. And for a video introduction, take a peek at this short YouTube video.