Soul Bound Tokens (SBT)

What are Soul Bound Tokens?

SBTs stand for Soulbound tokens and they are tokens that use blockchain technology to represent a person's identity. These tokens cannot be transferred to other people and can include information such as medical records and work history. The wallets that store these tokens are referred to as "Souls". Individuals may have multiple Souls representing different aspects of their lives, such as a "Credentials Soul" for work history and a "Medical Soul" for health records. Through Souls and SBTs, individuals can establish a digital reputation on the Web3 platform based on their past experiences and actions.

The purpose of SBTs is to take the concept of NFTs beyond its current usage as a symbol of wealth and ownership. SBTs are unique and non-transferable tokens that represent a person or entity's reputation, rather than an asset or property. Additionally, unlike NFTs, SBTs have no monetary value and cannot be traded once they have been issued to a person's wallet.

Power up with BLiV’s SBT.

Furthermore, the implementation of SBTs becomes a power-up with a significant multiplier effect built-in exclusively for users who a) have achieved specific milestones, for example reaching Level 5 and b) users willing to undergo more extensive KYC (Know Your Customer) processes.