PwC Italy and SKChain Advisors introduced the launch of a brand new blockchain-based answer for decentralized identification verification within the European Union. The system will adjust to EU regulatory necessities and provides customers full management over their private knowledge.
PwC Italy, the Italian department of the worldwide auditing and consulting agency PricewaterhouseCoopers, and consulting agency SKChain Advisors joined forces to develop a brand new self-sovereign identification answer.
The system will leverage World Cell Chain, an L3 community constructed on the L2 Base protocol particularly designed for telecommunications, together with Self-Sovereign Id (SSI) know-how. This can allow customers to handle their private knowledge independently with out counting on centralized authorities.
In keeping with the builders, the brand new system will align with the European Digital Id Wallets (EUDI Pockets) idea, which goals to supply EU residents with safe entry to each private and non-private providers. The answer will absolutely meet the EU’s digital identification necessities beneath the eIDAS 2.0 regulation and the Normal Knowledge Safety Regulation (GDPR).
eIDAS 2.0 (Digital Identification, Authentication, and Belief Companies) is the up to date EU regulation governing digital identification and belief providers.
GDPR (Normal Knowledge Safety Regulation) is the EU’s major knowledge safety framework, guaranteeing strict guidelines for processing and storing private knowledge whereas granting customers the appropriate to entry, appropriate, and delete their knowledge. It additionally requires firms to stick to ideas of transparency, knowledge minimization, and privateness.
eIDAS 2.0 and GDPR complement one another — the previous regulates digital identification, whereas the latter governs private knowledge safety.
The brand new identification verification mechanism will guarantee privateness and knowledge safety via the usage of zero-knowledge proof (ZKP) know-how.
In keeping with Marco Folcia, Accomplice and Monetary Companies Transformation Chief at PwC Italia , the answer beneath growth will likely be a key element of the EU’s digital infrastructure and assist speed up blockchain adoption within the public providers sector. He additionally famous that PwC and SKChain plan to work carefully with regulators and European companies to make sure compliance with regulatory necessities and combine the system into current digital ecosystems.
Below the EUDI legislative initiative, all EU residents will likely be required to have a digital identification pockets by 2026, with varied implementations at the moment being developed throughout completely different nations.
Сообщение Decentralized Digital Id Resolution Below Growth in EU появились сначала на CoinsPaid Media.