Thanks @jmcgirk for the content you posted. Weldon job.
I like the idea of SBT, it is really a big development because Soulbound tokens or SBTs could unlock benefits that can transform how we currently view social identities in real life.
For example, NFTs serve as a way to prove what a person owns, and the things they can afford, support content creators, and even improve crowdfunding efforts. However, beyond the incentive of money, SBTs improve upon the NFT concept to serve as a way for people to prove who they are and confirm their reputation.
With SBTs, users can observe the immutable history of people before conducting business with them. For example, SBTs can be used to confirm the experience of a candidate before employing them. A person can observe the SBTs of people before leasing a property to them. The upside opportunities SBTs can potentially bring to the world are quite enormous and they can even enable the realisation of a completely decentralised society.
In addition, the SBT, its issuer, and Soul’s address can be publicly verified on the blockchain. Hence, anyone can easily track or prove the trust circles of a particular Soul.
Imagine having a blockchain account (Soul) that stores immutable records like educational credentials, employment history, or works detailing a person’s experiences.
Even Verification via the trust layer proves that any data is tamper-free. It can be verified and traced in detail by independent third parties at any time.
Hope it doesn’t constitutes a breach of data protection laws.