PwC Italy is collaborating alongside SKChain to introduce an independent digital identification for the European Union.
This fresh digital ID will oversee authentication, confirmation, and interactions using digital resources, all while remaining compliant with evolving rules. Consider it a passkey for both conventional and Web3 platforms, making it simpler for enterprises and clients to traverse the progressively digital economy.
PwC Italy and SKChain Consultants have previously finished research to determine the optimal independent identity (SSI) framework and are currently engaged in the construction.
The answer is constructed upon World Mobile Chain, a Layer 3 network on Coinbase’s Base, intended to offer a protected and self-governed identity framework. This enables users to handle their own data without depending on centralized bodies.
Independent identity (SSI) tech is acquiring momentum as a method to improve data privacy and security while adhering to rules like the EU’s Markets in Crypto-Assets (MiCA) framework.
This undertaking corresponds with the European Digital Identity Wallet, presented under the eIDAS 2.0 regulation, which seeks to standardize digital identities across the EU.
Rob Viglione, Chief Executive Officer of Horizen Labs, remarked that the EU’s digital identity strategy is certainly utilizing independent identity technology, which is a favorable advancement. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
World Mobile Chain is supplying the fundamental infrastructure for the venture, intending to encourage European businesses to embrace blockchain technology.
In essence, PwC Italy and SKChain Consultants are working together to produce a blockchain-based digital identity answer for the EU, providing a protected and user-controlled method to oversee digital interactions.
Constructed as a Layer-3 protocol atop the Base chain, it introduces expandability and effectiveness to dispersed programs.
This offering is geared towards simplifying electronic entry across diverse industries while equipping individuals with enhanced authority over their virtual personas.
Viglione underscores the significance of confidentiality in electronic persona frameworks, articulating, “What individuals genuinely require is confidentiality and safeguarding. Every electronic persona resolution must utilize zero-knowledge validation innovation to guarantee information functions in a ‘functional yet imperceptible’ condition.” Envision it akin to demonstrating you’re sufficiently mature to enter a tavern without displaying your genuine identification – the tavern recognizes you’re of lawful age, however they don’t perceive your date of birth or residence.
This electronic persona resolution will enable firms to attain blockchain-anchored validation without jeopardizing confidentiality. It’s centered around substantiating your identity without divulging superfluous individual specifics.
