Decentralized ID project “Masa Finance” utilizing SBT, deployed to Coinbase L2 “Base”

SBT protocol for Base

Masa Finance, a decentralized ID protocol, announced on the 4th that it plans to launch the Soulbound token (SBT) protocol for Ethereum’s own L2 network “Base”, which is led by the major US crypto asset (virtual currency) exchange Coinbase. .

SBT is a token that connects identity and reputation characteristics to a wallet address on the blockchain, enabling credit evaluation. A person’s credit-related data can be incorporated, such as educational qualifications, work history (contributions to projects), credentials used for user authentication, and past loan history. In addition, once received, it has the property that it cannot be transferred outside the digital wallet (non-transferable).

connection:High interest in “Soulbound Token (SBT)” advocated by Ethereum founder Buterin

Masa Finance has developed an SBT protocol compatible with the Ethereum Virtual Machine (EVM), and has so far deployed it for Ethereum (ETH), Polygon (MATIC), BNB, and Celo (CELO). Based on developer feedback, we have productized SBTs for various use cases such as membership badges, achievement badges, referral programs, user authentication, and credit underwriting.

In addition, we have developed “Masa Web3 Credit Score SBT (MCR)”, which represents a credit score based on the activity of the Ethereum blockchain, and “Masa Soulname NFT (MIN)”, an address that can be read by humans. MIN can also be traded on the NFT electronic market “OpenSea”.

Masa plans to release a toolkit for developers “Base SBT Developer Toolkit” within the next few weeks in order to establish its position as an SBT layer in Base as well. Developers will be able to easily customize template SBTs to suit the use cases mentioned above.

Last month, Masa Finance made a guest appearance on Coinpost Global’s GM Radio. He discussed the importance of decentralized IDs, token issuance, future plans, etc. under the theme of “identity in the age of SBT and Web3”.

connection:“GM Radio” Next time, SBT-based decentralized ID project “Masa Finance” will participate

Coinbase Base Network

Coinbase launched the Base Network testnet on February 23, and is developing it for mainnet implementation as Layer 2 of Ethereum. On March 25th, Coinbase announced four areas it would like developers to focus on under the title of “Requests to Developers”.

In it, he points out the “research area of ​​on-chain trust building”, and how such a system can be used while maintaining trust evaluation protocols on the blockchain and user privacy and autonomy. He said he’s looking for a team that’s researching about.

connection:Coinbase’s L2 “Base” Calls for Development in 4 Focus Areas

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