PwC Italy, SKChain to launch self-sovereign EU digital ID

PWC Italy and Blockchain Consultancy Advisors Skchain Development A digital identity solution for the European Union using blockchain technology.

The product, built on the global mobile channel, a layer of layer 3 in Coinbase Baseaims to provide a secure and self-souveraine identity framework which allows users to control their personal data without relying on the centralized authorities.

The initiative is aligned with the European digital identity portfolio introduced within the framework of the EIDAS 2.0 regulation, which aims to normalize digital identity through the EUAccording to a press release shared with Crypto.News.

PWC Italy and Skchain Advisors have completed a feasibility study to determine the optimal SSI frame and now advances with development.

The solution will act as a gateway for users to access both traditional and Web3 platforms.

Data confidentiality and security

SSI technology gains field as a means of improving confidentiality and data security while complying with regulations such as the EU Markets within the framework of cryptocurrencies.

According to a note from the company, the new digital identity product will support authentication, verification and interactions with digital asset services.

This should help companies and consumers sail in an increasingly digital economy while guaranteeing compliance with the evolution of regulatory standards.

“It has been a question for a long time if the EU’s digital identity scheme would use the blockchain,” Rob Viglione, CEO of Horizen Labs, told Crypto.News. “The fact that this has been confirmed is a positive step forward. The fact that it uses self-sovererant identity technology is also a positive step.”

World Mobile Chain, the infrastructure supporting the project, is designed to facilitate the adoption of blockchain among European companies. As a layer 3 protocol on the basis, it offers scalability and efficiency for decentralized applications.

The digital identification solution will allow companies to implement Identity verification without compromising privacy.

Viglione highlights the importance of confidentiality in digital identity systems, declaring: “Users need confidentiality and security guarantees. Any digital identification scheme should use zero knowledge proof technology to ensure that the data remains “usable but invisible”. ” »»

The product should rationalize digital access in various sectors while giving users greater control over their online identities.