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Shytoshi Kusama Unveils Shib SSI Launch Details, Here’s When

August 7, 2023
in DeFi
Reading Time: 2 mins read
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Shytoshi Kusama Unveils Shib SSI Launch Details, Here’s When
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The Shiba Inu team has been striving to uphold the spirit of decentralization. Recently, it was unveiled that the Shiba Inu ecosystem will tie all the applications to a blockchain-based digital identity going forward. The Self-Sovereign Identity, or SSI, will help bolster trust among SHIB users and governments. Alongside, it will give users more control over their personal data and its distribution online.

In a recently released blog post, Shytoshi Kusama addressed the what, why, and when of the SSI implementation. Kusama asserted that large companies make “billions” by monetizing user data. This is technically done with permission, but not always with full user understanding. The SSI intended to change this paradigm and opened the doors for “advanced trust and decentralization.”

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The post brought to light that Shib SSI will solve the complexity of the Shiba Inu ecosystem by fostering granular governance. This will be done at a level ”not realized” by decentralized communities to date, Kusama said. He added,

”By harnessing these technologies, we envision a world where identity theft is a thing of the past, where personal data leaks are unheard of, where trust is inherent and not an exception. This isn’t a mere idea but a tangible future that is no longer impossible.”

Also Read: Shiba Inu Forecasted To Rise 300% & Reach $0.00003: Here’s When

SSI to be implemented ‘soon’: Kusama

The lead Shiba Inu developer revealed that the implementation of Shib SSI into Shibarium will happen soon. However, he warned that this was not an instantaneous feat. It will take ”months of research,” and will be set in motion only after Shibarium’s release. He added,

”We are planning Shib SSI alongside a host of other features and enhancements to ensure Shibarium is resilient, powerful and that Shib remains decentralized perpetually!”

Further details regarding the SSI will be discussed in the ”Worldpaper” that will be revealed at the Blockchain Futurist Conference in mid-August. There has been a misconception among people from the community that new Shibarium ecosystem token debuts will be happening soon. Kusama made it clear that no such development was in the works and branded the claim to be ”untrue.” As reported recently, BONE will serve as ‘The Passport’ to Shibarium. This token will have three roles to play. One, it will be the token that delegators ”bury” to get a portion of the rewards. Two, it will serve as the ”gas” token for Shibarium. Three, it will foster technology ”governance” within the new system.

Also Read: Shiba Inu: 2 Ways SHIB Could Reach $0.01

Also Read: Shiba Inu Has Risen ~10,000,000% Since its All-time Low Value

Credit: Source link

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