Ethereum co-founder Vitalik Buterin is talking about the future of Ethereum.
Buterin penned a 37-page letter to detail Ethereum’s future and how it will be centered around a Decentralized Society.
He also discussed “soulbound tokens,” non-transferable NFTs that could protect people against social identity theft and scams. He’s convinced these tokens could change the world as we know it.
SBTs are non-transferable tokens that can be earned based on your job and education history and be a part of your reputation to honor your accomplishments, almost like an “extended resume,” Buterin wrote.
According to Buterin’s paper, there are a few real-life uses for soulbound tokens. These include universities issuing them as degrees, employers issuing them to workers, and even event organizers issuing them to attendees. Holding a non-transferable token would make it harder for scammers to impersonate someone and easier for employers to verify professional history. SBTs can also be validated by peers, similar to how LinkedIn allows connections to verify skills.
Buterin believes SBTs could help people have more ownership of their online identities. He wrote, “making more items in the crypto space ‘soulbound’ can be one path toward an alternative, where NFTs can represent much more of who you are and not just what you can afford.”
Soulbound tokens will be available later this year.