Blockchain
A central focus for a lot of within the Web3 group has been bettering id options out there to customers. Final 12 months the emergence of soulbound tokens (SBT) launched a brand new means for customers to outline themselves.
Though the SBT hype quieted over the past months, they haven’t disappeared off the scene. On Mar. 1, the SBT protocol Masa Finance introduced that it’ll deploy on the carbon-negative Celo blockchain to create a brand new id answer.
Greater than 10 million wallets lively within the Celo ecosystem will be capable to generate a Masa “Prosperity Passport.” This new Web3 id answer permits customers to mint quite a lot of SBTs associated to their digital life, comparable to an authenticated person verification SBT, a credit score rating SBT, a group repute SBT and a .celo area identify SBT.
Calanthia Mei, the co-founder of Masa Finance stated nonfungible tokens (NFTs) have been the primary pioneers for Web3 person customization, and SBTs are the following breakthrough expertise.
“Web3 has a belief subject, and SBTs symbolize a composable and scalable solution to construct a belief layer between initiatives and customers, and customers amongst one another. “
The “Prosperity Passport” answer additionally provides entry to different utilities from Celo initiatives which have built-in the expertise, comparable to micro loans and common primary earnings.
Mei believes that the id options offered by SBTs will assist usher within the subsequent 1 billion genuine customers into Web3.
“We see SBTs as a solution to construct bridges for international economies, industries, and customers to merge with web3 and actually usher within the new financial system.
In response to the announcement, the protocol already has 250,000 Masa Soulbound Identities minted, together with almost 300,000 Masa .Soul Names minted.
Associated: What’s decentralized id in blockchain?
On the finish of 2022, MetaMask Institutional, Cobo and Gnosis DAO all teamed as much as create an SBT mission to carry exclusivity and id verification to its customers. Again in December, the Japanese monetary agency Sumitomo Mitsui additionally revealed it’s trying into SBTs for social causes.
These new digital property are considered a attainable answer to future digital id within the metaverse, together with digital citizenship.
Whereas indirectly mentioning digital property, on Feb. 9, the European Union talked about utilizing zero-knowledge proofs for future digital IDs.
