SKChain and PwC develop a blockchain-based digital identity system

SKChain Advisors and PwC Italy are collaborating to develop a blockchain-based digital identity system for the European market. The solution leverages Self-Sovereign Identity (SSI) technology to enhance security and compliance in digital platform access for companies and customers in the EU.

PwC Italy has experience in deploying blockchain solutions across various industries, while SKChain Advisors provides consultancy for Web3-based projects. The partnership aims to create a solution that enables access to both traditional services and Web3 platforms.

According to PwC, decentralized blockchain-based digital identity is a major trend in digital technology evolution and could become the primary standard for Web2 and Web3 applications. The EU’s MiCA regulation includes initiatives for a digital identity wallet, which could facilitate the widespread adoption of SSI-based technologies.

Marco Folcia, leader in financial services transformation at PwC, stated that digital identity will play a key role in securing and authenticating personal information, emphasizing the importance of privacy protection and transparency through blockchain.