PwC Italy and SKChain Advisors announced the launch of a new blockchain-based solution for decentralized identity verification in the European Union. The system will comply with EU regulatory requirements and give users full control over their personal data.
PwC Italy, the Italian branch of the global auditing and consulting firm PricewaterhouseCoopers, and consulting firm SKChain Advisors joined forces to develop a new self-sovereign identity solution.
The system will leverage World Mobile Chain, an L3 network built on the L2 Base protocol specifically designed for telecommunications, along with Self-Sovereign Identity (SSI) technology. This will enable users to manage their personal data independently without relying on centralized authorities.
According to the developers, the new system will align with the European Digital Identity Wallets (EUDI Wallet) concept, which aims to provide EU citizens with secure access to both public and private services. The solution will fully meet the EU’s digital identity requirements under the eIDAS 2.0 regulation and the General Data Protection Regulation (GDPR).
eIDAS 2.0 (Electronic Identification, Authentication, and Trust Services) is the updated EU regulation governing electronic identification and trust services.
GDPR (General Data Protection Regulation) is the EU’s primary data protection framework, ensuring strict rules for processing and storing personal data while granting users the right to access, correct, and delete their data. It also requires companies to adhere to principles of transparency, data minimization, and privacy.
eIDAS 2.0 and GDPR complement each other — the former regulates digital identity, while the latter governs personal data protection.
The new identity verification mechanism will ensure privacy and data security through the use of zero-knowledge proof (ZKP) technology.
According to Marco Folcia, Partner and Financial Services Transformation Leader at PwC Italia , the solution under development will be a key component of the EU’s digital infrastructure and help accelerate blockchain adoption in the public services sector. He also noted that PwC and SKChain plan to work closely with regulators and European businesses to ensure compliance with regulatory requirements and integrate the system into existing digital ecosystems.
Under the EUDI legislative initiative, all EU citizens will be required to have a digital identity wallet by 2026, with various implementations currently being developed across different countries.
