Souls in a Decentralized Society.
Web3 today centers around expressing transferable, financialized assets, rather than encoding social relationships of trust. Yet many core economic activities — such as uncollateralized lending and building personal brands — are built on persistent, non-transferable relationships.
That is an abstract from the paper, “Decentralized Society: Finding Web3’s Soul.” By E. Glen Weyl, Puja Ohlhaver, and Vitalik Buterin.
The genesis of the concepts called Soul Bound Tokens and The Decentralized society.
So let’s look at the concepts.
What are Soul Bound Tokens(SBTs)?
The short version. They are tokens given by the devil to snatch souls or make it easier for people to trade their souls for money.
Cointelegraph used this line 👇
SBTs possessed by one Soul can be issued — or attested — by other Souls
Yeah, we need more conspiracy theories in Web3. 🕵
But if you don’t want the definition from my budding conspiracy theory, SBT according to the paper is defined as a non-transferable (initially public) token representing…
