According to a blockchain representative, the Shiba Inu ecosystem intends to link all applications to a blockchain-based digital identity.
The Move is Shiba Inu's Most Effort to Shed Its Reputation As a Meme Coin
According to a blockchain representative, the Shiba Inu ecosystem intends to link all applications to a blockchain-based digital identity to increase confidence between consumers and governments.
The move is Shiba Inu's most recent effort to shed its reputation as a meme coin and challenge other decentralized finance (DeFi) projects.
The digital equivalent of identity documents like passports and driver's license is called Self-Sovereign Identity (SSI). SSI is believed to provide people more control over their personal data and how it is distributed online in the digital age.
Developers of the Shiba Inu say they have been collaborating with community initiatives to make sure SSI deployment is a top goal. Shiba Inu might be seen as a more acceptable initiative than other blockchains given the growing interest in digital identities and data protection in Canada and the EU.
For blockchain-based apps, the layer 2 network Shibarium will use the BONE, TREAT, SHIB, and LEASH coins. With 27 million transactions from an estimated 16 million wallets as of July, the testnet for Shibarium has had significant activity in recent months, indicating strong interest for the network.
