Shiba Inu (SHIB) developer Shytoshi Kusama has announced plans to launch a new blockchain-based digital identity project called Shibarium Self-Sovereign Identity (SHIB SSI).
Recall that it was announced via the Shib ecosystem’s official Twitter handle last week that Kusama is planning to integrate Self-Sovereign Identity (SSI) in all Shiba Inu projects.
SSI is a self-sovereign identity solution that gives users total control over their digital identity. This means that users can choose who they share their data with, and how it is used.
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In a blog post, Kusama said that SHIB SSI has the potential to revolutionize the digital world. He said that it can be used for a variety of purposes, including:
Enhanced business processes: It can be used to streamline business processes and reduce costs. For example, it can be used to verify the identity of customers and employees and to track the provenance of products.
Cost savings for mom-and-pop businesses: It can help mom-and-pop businesses save money on fraud prevention and compliance costs. This is because SHIB SSI can be used to verify the identity of customers and to prevent fraudulent transactions.
Fraud prevention for governments: SHIB SSI can be used to prevent fraud and identity theft. This is because the new product can be used to verify the identity of individuals and to track their activity. Kusama also believes that the new product can help to create a more decentralized and secure digital world.
Shiba Inu lead developer also that SHIB SSI can be used to:
Solve the complexity of the Shib Ecosystem: SHIB SSI can help to simplify the Shib Ecosystem by allowing for granular governance. This means that users will have more control over how the ecosystem is run.
Prevent identity theft: SHIB SSI can help to prevent identity theft by giving users total control over their digital identity.
Stop data leaks: SHIB SSI can help to stop data leaks by encrypting user data and storing it on a decentralized network.
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The SHIB SSI project is still in its early stages, but Kusama is confident that it has the potential to make a major impact on the digital world. He said that SHIB SSI is “a tangible future that is no longer impossible.”
The SSI announcement comes as the project gets closer to releasing its much-anticipated layer-2 scaling solution, Shibarium. Kusama has said previously that it’s “highly likely” they’ll release the scaling solution at the Blockchain Futurist Conference, which takes place from August 13th-17th in Toronto.
If SHIB SSI and Shibarium are successful, they could have a major impact on the cryptocurrency and blockchain space. They could help to make cryptocurrencies more accessible and user-friendly, and they could also help to promote decentralization and security.
The SHIB SSI project is significant because it could help to make cryptocurrencies more accessible and user-friendly. It could also help to promote decentralization and security in the cryptocurrency space.
Additional details about the SHIB SSI project:
- The project is still in its early stages of development.
- It is expected to be released in 2023.
- It will be built on the Shibarium blockchain.
- It will be open-source and permissionless.
- It will use cryptography to secure user data.
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