PWC Italy works together with Blockchain Consultancy, Skchain advisers to create an identity solution based on blockchain technology for the European Union. This project follows the requirements of the European Digital Identity Wallet (Eudi Wallet) as defined by the Eidas 2.0 Regulation. The system builds a safe Self-sovereign Identity (SSI) framework with which users can process their individual information and at the same time skip dependence on centralized governance entities.
The World Mobile Chain is the platform to build this solution because it works as a Layer 3 protocol on the basic network of Coinbase. This infrastructure offers safe access to platforms to European companies and consumers with compliance with the regulatory standards built into the system. Users will experience improved access to web3 and traditional services by implementing blockchain authentication systems for identity confirmation.
Regular compliance and security improvements
PWC Italy and Skchain advisers have carried out a feasibility study to determine the best SSI framework for the European market to implement this initiative. The proposed system allows authentication, verification and interaction between digital asset service under EU-regulatory standards, in particular the markets in crypto-assets (MICA) framework parameters.
A growing number of organizations decided to use SSI technology because it delivers superior privacy protection and improved security measures. Eudi portion and extra EU-blockchain-driven identity system policy show that the European regulating environment will embrace blockchain-based identity solutions as standard mechanisms. The upcoming digital identity product offers users simplified access to multiple sectors, while giving them fully owned by their personal information.
World Mobile Chain Integration for scalability
The digital identity solution works as part of World Mobile Chain, a blockchain network that makes decentralized applications possible. This base layer 3 protocol offers companies with scalable and efficient blockchain identity authentication -solutions.
PWC Italy and Skchain advisers are working on developing digital identity frameworks to improve the EU standards. The implemented solution uses blockchain technology for enterprise user authentication systems that retain the privacy of users and at the same time meet the compliance standards. The project is a substantial progress for standardized solutions for digital identity that the European market wants to develop.
