Soulbound tokens are about to become a thing
Earlier this year, 'Ethereum daddy' Vitalik Buterin, pitched a new idea for a specific type of token.
He called them Soulbound Tokens (SBTs), which is a reference to non-tradable items in World Of Warcraft.
...and Masa Finance have just announced plans to bring the concept to life.
The idea behind the tokens is that users will be able to create their own, non-transferrable SBT, that would act as a self issued passport within Web3.
Kind of like if your social security details, ID card, online login credentials and bank records were all rolled into one self-managed ledger.
(That only you had access to, via your SBT token).
SBTs could be used to check Web2 & Web3 credit scores, get assessed for crypto loans, and sign-in to Web3 applications.
File this one under 'neat idea, weird name.'
