Introduction to Soul Bound Token

Non-Transferable tokens representing a person's identity using blockchain technology

Introduction  to Soul Bound Token

What's the origin of this idea?

A PC Game - World of Warcraft

New Logo Looks for World of Warcraft

Vitalik Buterin proposed the idea of SoulBound Token, which was inspired by the game World of Warcraft. In which there are soulbound items. which are non-transferable, negotiable, and non-tradable items. These items are achieved by doing quests and are necessary to complete the game.

Soulbound

Well Whats so cool about them aren't NFT the same? What make them so special?

Cool Down boi...
Let's go one by one

// Isn't it like NFT?
Yes, It's an NFT but the better way of saying it would be they are non-transferable NFTs (that are with you forever stick to your soul more likely to your private key).

// What's so special?
The concept that they are non-transferable provides the possibility of creating a variety of solutions for existing problems. We will talk about them later on.

How would SBTokens look in real life?

Analyzing the Source of Your Identity | by ☜ T. A. Fave ☞ | Invisible  Illness | Medium

SBTokens - Would become your identity and identifier

To show

  • Who you are?

  • What you have achieved?

  • What is the other person all about?

  • Companies can know what their employer is all about. Similarly, people can also figure out how well the companies are.

In short - A tag that is once verified by your organization stays with you forever and whether the company or organization exists or not. If you have the tag it's proof of your hard work.

Potential Use Cases of SBTokens

soulbound token

  1. Digital Identity

  2. Digital CV

  3. Academic Credential

So the idea of soul bound makes it possible to develop projects on top of these ideas where your Identity is encrypted to you and you have the right to choose who can have access and who cannot, plus the benefits are limitless in combination with pros of blockchain technology.

Conclusion

Soul-bound Token expands the horizon of possible stuff to build, the resources that are bound to you (in the crypto world to your wallet).