🪪SoulBound Token (SBT)

In a recent research paper by Vitalik Buterin, Glen Weyl, and Puja Ohlhaver, they explored the concept of establishing a decentralized society (DeSoc) and Soulbound tokens (SBTs). These tokens, inspired by the video game World of Warcraft, are unique non-transferable NFTs stored in a private crypto wallet known as Souls.

Soulbound tokens are designed to be permanently associated with a single owner’s wallet and identity; they cannot be sold or transferred to others. This characteristic makes them perfect for representing qualifications or records that should not be transferable, like professional certifications, reputations, medical records, and more.

Because they are permanently linked to an individual, Soulbound tokens ensure lifelong ownership and control over the access and sharing of the contained information. Thus, SBTs provide a way for individuals to maintain sovereign control over their personal data, allowing for token-based data management instead of relying on centralized databases.

How to get a Soulbound Token (SBT)? Read here.