PwC Italy has joined forces with blockchain consultancy SKChain Advisors to develop an enterprise-grade Web3 EU digital identity product.
Built using blockchain-based Self-Sovereign Identity (SSI) technology, the tool will let European firms and their customers compliantly and securely access digital platforms.
The partners have already carried out a feasibility study to determine the optimal SSI framework for the European market and say they will now move onto developing a product designed to serve as a gateway for accessing traditional services as well as web3 platforms.
Governments, enterprises, and web3 projects are increasingly exploring SSI as the next evolution of digital identity, says PwC. The EU’s MiCA regulations, combined with initiatives like EU Digital Identity Wallet, signal a future where regulated, blockchain-powered identity systems become mainstream.
The partners are betting that, as adoption grows, SSI will likely become the default identity standard for both web2 and web3 applications, paving the way for a decentralised digital future with data privacy at its core.
PwC Italia financial services transformation leader Marco Folcia says: “Digital Identity will be pivotal in revolutionising 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 utilising 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.”