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AAX Trends

Soulbound Tokens - A New Paradigm for Digital Identities

Soulbound Tokens - A New Paradigm for Digital Identities

News & Insights

27 Sep 2022

SBTs not only would provide the infrastructure for building truly decentralized identities, but would also unleash a new decentralized credit economy and pave the way for more sophisticated and transparent ways of managing communities.

NFTs are inherently cultural as what we hold and the communities we affiliate ourselves with allow others to infer our personal qualities and interests. With non-transferable Soulbound Tokens (SBTs), however, identity-linked wallets can now capture factual and irreversible aspects of the supposed user (Soul), such as accreditation or a permanent record, thereby allowing digital identities to accommodate both transitory and permanent aspects. SBTs not only would provide the infrastructure for building truly decentralized identities, but would also unleash a new decentralized credit economy and pave the way for more sophisticated and transparent ways of managing communities. The arrival of SBTs will usher us into a new paradigm of digital identities.

Soulbound Tokens report

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