The partners are betting that, as adoption grows, Self-Sovereign Identity will likely become the default identity standard for both web2 and web3 applications, paving the way for a decentralised digital future with data privacy at its core.
The Italian division of PricewaterhouseCoopers (PwC) said is building a European Union (EU) digital identity product alongside blockchain consultancy firm SKChain Advisors. The product under development will enable European companies and their customers to securely access digital platforms including those in the world of Web3.
The product, built on the World Mobile Chain, a Layer 3 network on Coinbase’s Base, aims to provide a secure, self-sovereign identity framework that allows users to control their personal data without relying on centralized authorities.
The initiative aligns with the European Digital Identity Wallet introduced under the eIDAS 2.0 regulation, which aims to standardize digital identity across the EU, according to a press release shared with crypto.news.
PwC Italy and SKChain Advisors have completed a feasibility study to determine the optimal SSI framework and are now moving forward with development. The solution will act as a gateway for users to access both traditional and Web3 platforms.
PwC Italia financial services transformation leader Marco Folcia says: “Digital Identity will be pivotal in revolutionising how we secure and authenticate personal information. As the digital landscape evolves, responsible innovation will be crucial for widespread adoption, ensuring both privacy protection and seamless user experience while utilising blockchain technology to raise data transparency.
„eIDAS 2.0 and the EUDI wallet are set to redesign the way businesses relate to customers while leaving users able to control their data and seamlessly access their preferred online and offline services.”
“There has been talk for a long time about whether the EU’s digital identity scheme would use blockchain,” Rob Viglione, CEO of Horizen Labs told crypto.news. “The fact this has been confirmed is a positive step forward. The fact it’s using self-sovereign identity technology is also a positive step.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
