Blockchain consultancy SKChain Advisors has announced a collaboration with PwC Italy to develop an EU digital identity solution. Built using blockchain-based Self-Sovereign Identity (SSI) technology, the solution will enable European enterprises and their customers to compliantly and securely access digital platforms.
The foundational basis for this work has been the thorough review of the eIDAS 2.0 Regulation which introduces the European Digital Identity Wallet (EUDI-Wallet) for all citizens in the EU.
The collaboration between SKChain Advisors and PwC Italy has already commenced with a completed feasibility study to determine the optimal SSI framework for the European market. The next phase will see the development of the solution, which will serve as a gateway for accessing traditional services as well as web3 platforms.
The standardization of digital asset regulation across the European Union has given businesses a clear framework with which to operate. At present, however, companies are underserved due to a shortage of enterprise-grade solutions for accessing the blockchain economy.
Governments, enterprises, and web3 projects are increasingly exploring SSI as the next evolution of digital identity. The European Union’s MiCA regulations, combined with initiatives like EU Digital Identity Wallet, signal a future where regulated, blockchain-powered identity systems become mainstream. As adoption grows, SSI will likely become the default identity standard for both web2 and web3 applications, paving the way for a decentralized digital future with data privacy at its core.
The SSI-based solution will be suitable for both authentication and verification as well as interacting with digital assets services.
The solution under development will be deployed on World Mobile Chain, the first Layer 3 protocol developed on Base network. The chain is designed for European enterprises operating within the digital economy as well as traditional businesses, the SSI will streamline access for companies looking to leverage compliant identity solutions in the blockchain space.
PwC Italia partner and Financial Services Transformation leader, Marco Folcia said:
“Digital Identity will be pivotal in revolutionizing 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 utilizing 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.” - Marco Folcia, PwC Italia Partner, Financial Services Transformation leader
PwC Italy has deployed blockchain solutions across diverse applications, while SKChain Advisors have an impeccable track record at guiding projects in the web3 space. Through collaborating closely, the two entities will bring to market an SSI solution that will enhance access to web3 through the creation of an EU-compliant digital identity framework.
About SKChain Advisors
SKChain Advisors is a forward-thinking consultancy firm specializing in blockchain technology. Its team delivers tailored advisory services to clients seeking to leverage distributed ledger technology in meaningful ways.
About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 149 countries with more than 370,000 people who are committed to delivering quality assurance, advisory and tax services. The name PwC refers to the PwC network and/or one or more of its member firms. Each member firm is a separate legal entity. Find out more and tell us what matters to you by visiting us at https://www.pwc.com/
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