SBTs — Where Dectralized and Centralized worlds meet
#SBTs (Soul-bound-tokens) could bridge current gaps between decentralized world and centralized world.
In reference to the paper by Etherium Founder Vitalik, Glen Weyl and Pooja Ohlhaver
So far anonymous crypto or blockchain accounts could be identified as “souls” with SBTs
But, who gives these SBTs?
The “Centralized” Authorities from the real world
Schools, Universities, employers, Govt institutions can give these #SBTs tokens and an account which receives it is considered to have been “awarded” with some credits.
How does SBTs solve the problem of Trust on the network?
An account with an #SBTs from Harvard is equivalant to an ‘Individual’ who received a completion of a specific program from Harvard.
SBTs Paper suggests that, if we trust an Individual who receieved Harvard certificate, we should be able to trust an account which has certain #SBTs from Harvard.
Similarly, your employer’s SBTs can be also added to your account which is going to be called a SOUL
And, Here is where “Centralized world” meets “Decentralized world”
There are more use cases that are brought up in the paper related to DeSoc, Social proofing and Lending to benefit from the Soulbound tokens.
This needs more alignment with “Centralized World” and thus can lead to more time to get into the use case to be realized.
However, initiatives like “Metaverse” can benefit from Soulbounds very quickly.
There are some auestions on trusting the authenticity of SBTs alloted by an centralized authority are under question.
More on this in subsequent journals!
Buy for now :)
