What is the future of Ethereum

What is the future of Ethereum? Last week, Vitalik Buterin co-published a paper predicting Ethereum’s future. I read the 37-page paper and interviewed its co-authors so you didn’t have to. [🧵 THREAD]
The future according to @VitalikButerin revolves around soulbound tokens (SBTs). SBTs are NFTs that can’t be transferred after they are received. Once you receive an SBT, you hold it in a Soul wallet forever.
I interviewed paper co-author @glenweyl. He predicts that SBTs will be available for early uses by the end of 2022. He also said, “I suspect the 2024 up cycle will focus on them.” But, wait – what’s the point of NFTs that can never be transferred? Here’s 3 use cases.
Use case 1: Universities could give SBT degrees to their graduates. If universities gave NFT degrees now, graduates could sell them to anyone online. But if a graduates receives an SBT degree, he would not be able to transfer or sell it.
Use case 2: A company is trying to hire people who went to Conference X. Because Conference X gave out SBT badges to its attendees, no one can buy a badge on an open market. The company could then filter candidates for verified attendees of Conference X.
Use case 3: A DAO wants to build a community of environmentalists. The DAO can airdrop SBTs to attendees of environmental conferences and graduates of environmental programs. @vitalikbuterin calls this a “souldrop”.
Vitalik and his team call this world a “Decentralized Society”. I believe this is the future of web3 and the broader online world. With scammers and fakers galore, having real on-chain credentials is key.
What is the future of Ethereum? Last week, Vitalik Buterin co-published a paper predicting Ethereum’s future. I read the 37-page paper and interviewed its co-authors so you didn’t have to. [🧵 THREAD]
The future according to @VitalikButerin revolves around soulbound tokens (SBTs). SBTs are NFTs that can’t be transferred after they are received. Once you receive an SBT, you hold it in a Soul wallet forever.
I interviewed paper co-author @glenweyl. He predicts that SBTs will be available for early uses by the end of 2022. He also said, “I suspect the 2024 up cycle will focus on them.” But, wait – what’s the point of NFTs that can never be transferred? Here’s 3 use cases.
Use case 1: Universities could give SBT degrees to their graduates. If universities gave NFT degrees now, graduates could sell them to anyone online. But if a graduates receives an SBT degree, he would not be able to transfer or sell it.
Use case 2: A company is trying to hire people who went to Conference X. Because Conference X gave out SBT badges to its attendees, no one can buy a badge on an open market. The company could then filter candidates for verified attendees of Conference X.
Use case 3: A DAO wants to build a community of environmentalists. The DAO can airdrop SBTs to attendees of environmental conferences and graduates of environmental programs. @vitalikbuterin calls this a “souldrop”.
Vitalik and his team call this world a “Decentralized Society”. I believe this is the future of web3 and the broader online world. With scammers and fakers galore, having real on-chain credentials is key.
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