PwC Italy and SKChain Advisors Unveil Blockchain-Based EU Digital Identity Product
25.03.2025 12:48
PwC Italy, in collaboration with SKChain Advisors, announced plans to develop an EU digital identity product leveraging blockchain technology. The product is being built on the World Mobile Chain—a layer-3 network constructed on Coinbase’s Ethereum layer-2 Base. It utilizes self‐sovereign identity (SSI) technology to give users full control over their personal data by distributing and securely storing information without reliance on centralized providers. The initiative aligns with the EU’s digital identity framework, adhering to regulations such as eiDAS 2.0 and supporting the European Digital Identity wallet (EUDI). By enabling European companies and their customers to securely access various digital and Web3 platforms, the project is expected to reinforce data security and decentralized identity management across the continent.
Ethereum (ETH) benefits as the underlying blockchain for Coinbase's Layer-2 ecosystem. The news highlights institutional adoption and reinforces Ethereum's credibility, likely boosting investor confidence. In the short term, increased network usage may spur transaction volumes and a slight upward price momentum. Over the long term, successful integration and further institutional applications could underpin sustained growth, reflecting historical positive trends in response to innovative blockchain deployments.
Base, Coinbase’s Ethereum layer-2 network, stands to gain from this venture by demonstrating its applicability in high-profile, regulated digital identity solutions. Short-term, the positive sentiment and increased user engagement could trigger a price uplift as market participants react to the innovation. In the long term, if the project meets its operational and technical milestones, Base may experience steady growth supported by increased ecosystem adoption and validation of Layer-2 scalability, mirroring previous trends in similar blockchain layer upgrades.