Cryptocurrency
Future of Cryptocurrency – SBT!
By Careyourpresent  •  August 8, 2022
Soulbound tokens (SBT) were first mentioned in his website, follow by in a paper published by Vitalik Buterin and others on May 11th, 2022. In the paper, Buterin et al suggest that even until now Web3 focused on “transferable and financialized assets, rather than encoding social relationships of trust”. Source: Paper written by Vitalik Buterin Abstract of the paper Web3 today centers around expressing transferable, financialized assets, rather than encoding social relationships of trust. Yet many core economic activities—such as uncollateralized lending and building personal brands—are built on persistent, non-transferable relationships. In this paper, we illustrate how non-transferable “soulbound” tokens (SBTs) representing the commitments, credentials, and affiliations of “Souls” can encode the trust networks of the real economy to establish provenance and reputation. More importantly, SBTs enable other applications of increasing ambition, such as community wallet recovery, sybil-resistant governance, mechanisms for decentralization, and novel markets with decomposable, shared rights. We call this richer, pluralistic...
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By Careyourpresent
My name is Edmond Ng and I am 39 years old in year 2022. I am the founder of Careyourpresent site. I am a believer of Caring your Present and treasuring your time with your love ones. Most of the time we are busy with work, spending your precious time pursuing something which you don’t like but have to do in order to earn a living. Hence, please Love and Care for your PRESENT!
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