Soulbound tokens power new identity solution on Celo blockchain

A cardinal absorption for galore successful the Web3 assemblage has been improving individuality solutions available to consumers. Last twelvemonth the emergence of soulbound tokens (SBT) introduced a caller mode for users to specify themselves. 

Although the SBT hype quieted implicit the past months, they person not disappeared disconnected the scene. On Mar. 1, the SBT protocol Masa Finance announced that it volition deploy connected the carbon-negative Celo blockchain to make a caller individuality solution. 

More than 10 cardinal wallets progressive successful the Celo ecosystem volition beryllium capable to make a Masa “Prosperity Passport.” This caller Web3 individuality solution allows users to mint a assortment of SBTs related to their integer life, specified arsenic an authenticated idiosyncratic verification SBT, a recognition people SBT, a assemblage estimation SBT and a .celo domain sanction SBT.

Calanthia Mei, the co-founder of Masa Finance said nonfungible tokens (NFTs) were the archetypal pioneers for Web3 idiosyncratic customization, and SBTs are the adjacent breakthrough technology.

“Web3 has a spot issue, and SBTs correspond a composable and scalable mode to physique a spot furniture betwixt projects and users, and users amongst each other. “

The “Prosperity Passport” solution besides gives entree to different utilities from Celo projects which person integrated the technology, specified arsenic micro loans and cosmopolitan basal income.

Mei believes that the individuality solutions provided by SBTs volition assistance usher successful the adjacent 1 cardinal authentic users into Web3.

“We spot SBTs arsenic a mode to physique bridges for planetary economies, industries, and users to merge with web3 and genuinely usher successful the caller economy."

According to the announcement, the protocol already has 250,000 Masa Soulbound Identities minted, on with astir 300,000 Masa .Soul Names minted.

Related: What is decentralized individuality successful blockchain?

At the extremity of 2022, MetaMask Institutional, Cobo and Gnosis DAO each teamed up to make an SBT project to bring exclusivity and individuality verification to its users. Back successful December, the Japanese fiscal steadfast Sumitomo Mitsui besides revealed it is looking into SBTs for societal reasons.

These caller integer assets are thought to beryllium a imaginable solution to aboriginal digital individuality successful the metaverse, on with integer citizenship.

While not straight mentioning integer assets, connected Feb. 9, the European Union mentioned using zero-knowledge proofs for aboriginal integer IDs.