-what Soulbound (Sbt) tokens are and how they work
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FT-, SBT exists on the #blockchain network. The difference is that the tokens are non-transferable and cannot be changed. Here's how it works:
Create a task: an institution or organization, such as a university, employer or blockchain organization, issues an SBT to the user's wallet address. This is a validated achievement #token or credentials.
Consistency: It has been tied to this address since the SBT was issued. It cannot be transferred to another address. Thus, the token remains tied to the recipient and acts as a digital identification card that cannot be changed.
Verifiability: Other individuals and organizations can verify the legitimacy of the SBT by checking the records on the blockchain. This allows anyone to verify the validity of relevant certificates without the need for centralized authorities and intermediaries.
By linking SBT to any wallet, the blockchain ecosystem enables a decentralized identity system, providing a secure and seamless verification of achievements and qualifications.
SBT has many future applications in various markets. Here are some of them:
Digital Education Tokens: Education levels, such as degrees and professional certificates, can represent SBT and are an immutable and verifiable way to prove qualifications.
Reputation System: Tokens can also represent a reputation token earned by users through contributions, trust or stewardship within a decentralized financial project or #DAO .
Health and Medical Records: Hospitals and health centers may use SBTs in the form of certifications, such as immunizations and health professional licenses, but this is not done in any way.
Membership and Access Control: Sbt can serve as a kind of proof of membership in a particular group, organization, or community. They cannot be sold because they cannot be transferred; therefore, they are best suited for selective access systems.
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