Binance Deploys Soulbound Token for Immutable KYC Validation

As the NFT industry continues to mature, many token variants are beginning to materialize.See what’s new and powerful binance First Soulbound Token (SBT) BNB chain.

Essentially, SBT represents a non-fungible token. Bound forever in one purse, It cannot be sold or transferred in any ordinary way. These tokens could form the backbone of a world of identity-related transactions such as passports, driver’s licenses and even tokenized voting rights.

Through its own SBT called Binance Account Bound (BAB), Binance aims to store customer credentials. This grants access to various gated Dapps associated with the KCY protocol. We also offer NFT crafting access, airdrop rights, and exclusive content to negate all the nasty scourge of bots!

Binance Account Bound (BAB), the first-ever Soulbound token, #BNB chain

This innovation could pave the way for a thriving decentralized society on the BNB chain.

Find out more about the exciting development here https://t.co/gS4CmExrOp

BNB Chain (@BNBCHAIN) August 1, 2022

Binance has started piloting an interesting new scheme for KYCed users of the native Binance mobile app. However, a successful pilot could lead to a full rollout in the near future.When casting, the user can specify the wallet Deploy the token. Tokens stay forever.

We foresee many use cases for the BAB token and will actively work with the community to develop this revolutionary vision of a decentralized society. Changpeng Zhao Binance CEO

Click here for details>> here

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