Shiba Inu to Add Digital IDs to Ecosystem Projects
The Shiba Inu ecosystem will tie all the applications to a blockchain-based digital identity to strengthen trust among Shib (SHIB) users and governments, a representative for the blockchain told CoinDesk on Thursday. The move is Shiba Inu’s latest attempt to break out of memcoin status and become a serious decentralized finance (DeFi) contender in the crowded blockchain market.
Self-Sovereign Identity, or SSI, is a digital alternative to identity documents such as passports and driver’s licenses. In the digital world, SSI gives users more control over their personal data and how it is distributed online. The growing interest in digital identity and data protection in Canada and the EU could help position Shiba Inu as a more modest project compared to other blockchains, the developers say.
SHIB will become a serious blockchain competitor with the launch of Shibarium. The layer 2 network will use BONE, TREAT, SHIB, and LEASH tokens for applications built on the blockchain. The test blockchain for Shibarium has shown significant activity in recent months, with 27 million transactions from approximately 16 million wallets as of July, indicating a high network demand. The network is expected to be launched later this month.
