The future of soulbound tokens and their blockchain accounts
- The topic of soulbound, non-transferable tokens is getting lots of interest within the blockchain space lately as decentralized societies become more tangible with Web3 social media applications and DAOs. In this article, I want to outline how such tokens function, their problems for adoption and standardization, and how they differ from verifiable credentials in the SSI field. As such soulbound assets will likely rely on extended recovery and asset management schemes to become viable identities that safely gain reputation and trust, features like social recovery and contract-based accounting are incorporated. By combining those new technologies and the theoretical crypto-native identity construct, the paper will give an impression of the future user-centric data economy.
Author: | Felix Hildebrandt |
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URN: | urn:nbn:de:bsz:mit1-opus4-134502 |
DOI: | https://doi.org/10.48446/opus-13450 |
ISSN: | 1437-7624 |
Parent Title (German): | Konferenzband zum Scientific Track der Blockchain Autumn School 2022 |
Publisher: | Hochschule Mittweida |
Place of publication: | Mittweida |
Document Type: | Conference Proceeding |
Language: | English |
Year of Completion: | 2022 |
Publishing Institution: | Hochschule Mittweida |
Contributing Corporation: | LUKSO Blockchain GmbH |
Release Date: | 2022/10/25 |
Tag: | Web3 Soulbound Token |
GND Keyword: | Blockchain; Social Media |
Issue: | 2 |
Page Number: | 7 |
First Page: | 18 |
Last Page: | 24 |
Open Access: | Frei zugänglich |
Licence (German): | Urheberrechtlich geschützt |