The trading platform finds a home for users’ ‘souls’ on the exchange.
Now that we’ve figured out, thanks to NFTs, how to digitally guarantee the provenance of an object or event, we should be able to guarantee the provenance of a human being. And the team behindIf you want to participate, it won’t cost you anything but your “soul”., which later was inevitably abbreviated as SBT.
But how does an exchange decentralize – to ensure traders’ security and privacy – while ensuring identity verification? Enter the SBT. , and SBTs will be community members’ tickets to propose and vote on the platform's operations, treasury management, growth and collaborations., which cannot be traded, is not to be confused with the platform token the exchange plans to roll out later this year.
“The Soul Pass has a lot of different metadata on the chain, and it can track your activity on our platform,” says Phemex Chief Market Officer Stella Chan. “So it's not something that can be faked. … This technology will eventually facilitate what Vitalik called a decentralized society.’”
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