Soulbound ID is a distinctive identity verification service based on the web3 model.
It uses a non-transferable ERC1155 token as a tool for verifying the identity tied to specific wallet addresses. Wallet addresses bearing a valid Soulbound ID (SBID) are authorized to hold or manage security tokens, thus ensuring that only compliant investors are able to participate within the Stobox Ecosystem. This innovative approach to identity verification ensures the ecosystem's security and regulatory compliance, while preserving user privacy.
➡️ Product functionality and features
The Soulbound ID framework allows regular users to invest in tokenized assets, such as security tokens. By providing a clear, secure method of identity verification, it ensures that everyday investors can participate in the token economy in a compliant and secure manner.
Soulbound ID isn't limited to individual investors. It also extends its identity verification services to business entities, both as corporate investors and issuers of tokenized assets. This broad applicability ensures that all participants in the Stobox Ecosystem are verified and compliant.
Soulbound ID provides a functionality that allows any web3 business to integrate DeFi compliance into their web3 applications, such as DEXs, bridges, and more. This plug-in functionality means that businesses can easily ensure their applications comply with regulatory requirements, enhancing their security and trustworthiness.