{"id":558182,"date":"2023-03-01T17:00:00","date_gmt":"2023-03-01T14:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/soulbound-tokens-power-new-identity-solution-on-celo-blockchain\/"},"modified":"2023-03-01T17:00:00","modified_gmt":"2023-03-01T14:00:00","slug":"soulbound-tokens-power-new-identity-solution-on-celo-blockchain","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/soulbound-tokens-power-new-identity-solution-on-celo-blockchain\/","title":{"rendered":"# Soulbound tokens power new identity solution on Celo blockchain"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6ac219d5245a3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6ac219d5245a3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/soulbound-tokens-power-new-identity-solution-on-celo-blockchain\/#%E2%80%9D_Soulbound_tokens_power_new_identity_solution_on_Celo_blockchain_%E2%80%9C\" >&#8221; Soulbound tokens power new identity solution on Celo blockchain  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Soulbound_tokens_power_new_identity_solution_on_Celo_blockchain_%E2%80%9C\"><\/span>&#8221; Soulbound tokens power new identity solution on Celo blockchain  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvMGYxYTQ5OTQtZjAwZi00NmEwLTg4YTYtYzI2NDAyNWI4YTE0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>A central focus for many in the Web3 community has been\u00a0improving identity solutions\u00a0available to consumers. Last year, the emergence of soulbound tokens (SBT)\u00a0introduced a new way for users to define themselves.\u00a0<\/p>\n<p>Although the SBT hype quieted over the last months, they have not dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared off the scene. On March 1, the SBT protocol Masa Finance announced that it will deploy on the carbon-negative Celo blockchain to\u00a0create a new identity solution.\u00a0<\/p>\n<p>More than 10 million wallets active in the Celo ecosystem will be able to generate a Masa \u201cprosperity passport.\u201d This new Web3 identity solution allows users to mint a variety of SBTs related to their digital life, such as an authenticated user verification SBT, a credit score SBT, a community reputation SBT and a \u201c.celo\u201d domain name SBT. <\/p>\n<p>Calanthia Mei, co-founder of Masa Finance, said nonfungible tokens (NFTs) were the first pioneers for Web3 user customization, and SBTs are the next breakthrough <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>.<\/p>\n<blockquote><p>\u201cWeb3 has a trust issue, and SBTs represent a composable and scalable way to build a trust layer between projects and users, and users amongst each other.\u201d<\/p><\/blockquote>\n<p>The prosperity passport solution also gives access to other utilities from Celo projects, which have integrated the technology, such as micro-loans and universal basic income.<\/p>\n<p>Mei believes that the identity solutions provided by SBTs will help onboard the next 1 billion authentic users into Web3:<\/p>\n<blockquote><p>\u201cWe see SBTs as a way to build bridges for global economies, industries and users to merge with Web3 and truly usher in the new economy.\u201d<\/p><\/blockquote>\n<p>According to the announcement, the protocol already has 250,000 Masa Soulbound Identities minted, along with nearly 300,000 Masa .Soul Names minted.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>What is decentralized identity in blockchain?<\/em><\/strong><\/p>\n<p>At the end of 2022, MetaMask Institutional, Cobo and Gnosis DAO all teamed up to create an SBT project to bring exclusivity and identity verification to its users. Back in December, the Japanese financial firm Sumitomo Mitsui also revealed it is looking into SBTs for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> reasons. <\/p>\n<p>These new digital assets are thought to be a possible solution to future digital identity in the metaverse, along with digital citizenship.<\/p>\n<p>While not directly mentioning digital assets, on Feb. 9, the European Union mentioned using zero-knowledge proofs for future digital IDs. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/soulbound-tokens-power-new-identity-solution-on-celo-blockchain\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Soulbound tokens power new identity solution on Celo blockchain &#8220; A central focus for many in the Web3 community has been\u00a0improving identity solutions\u00a0available to consumers. Last year, the emergence of soulbound tokens (SBT)\u00a0introduced a new way for users to define themselves.\u00a0 Although the SBT hype quieted over the last months, they have not disappeared&#8230;<\/p>\n","protected":false},"author":1,"featured_media":558183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/0f1a4994-f00f-46a0-88a6-c264025b8a14.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,80586,74868,79786,76320,76174,140735,74355],"class_list":["post-558182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-celo","tag-defi","tag-digital-asset","tag-identification","tag-identity","tag-soulbound-tokens","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=558182"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/558183"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=558182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=558182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=558182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}