Sumitomo Mitsui Financial Group (SMBC), a large financial group of companies, announced that it plans to issue and explore the use of digital identification tokens (SBT) with the technological support of the crypto company HashPort.
SMBC plans to explore how SBT can be used in practice for a variety of purposes, including knowledge-sharing services and decentralized autonomous organizations (DAOs). The financial group team believes that the use of digital identity tokens will be useful for today’s society, in which people increasingly play several different roles:
“In the new society, each person will be able to choose and position an identity for each specific community in which he participates, using SBT.”
An SBT owner with multiple roles, such as specialist and music lover, will be able to use SBT to simultaneously verify their identity and career information when changing jobs. And information about musical preferences will be needed to join a group of music lovers. SBTs are a set of characteristics, a marker of the owner’s reputation. Assets cannot be transferred to another person. SBTs are used in decentralized communities and Web3.
Huobi announced last month that it will be responsible for launching Dominica’s government token, whose holders will be able to create SBT, which will allow people to claim Dominica citizenship.
Source: Bits
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