Executive summary: What Are Soulbound Tokens (SBT)?
Vitalik Buterin introduced the idea of soulbound tokens, a way of identifying someone on-chain. In this article, I dive into soulbound tokens and their use cases.
What you will learn:
- What Soulbound tokens are and how they work.
- Soulbound tokens are a way of tying a token to one entity (a person or an institution).
- They can be used for on-chain identification.
- Use cases include DAO voting, uncollateralized lending, on-chain certifications, and digital CVs.
- The dystopian version of soulbound tokens would be a social credit score.