Introduction :

In contrast to a Web dominated by large technology companies, Web3 is built, operated, and owned by its users and embraces decentralization. Web3 shifts power toward individuals rather than corporations. Masa is the world's first SBT identity protocol. Masa makes use of SBTs and a protocol-level abstraction to fully manage SBTs and the data attributed to them, both in web3 and in the real world, to represent the attributes of users. A web3 identity management layer that encapsulates any type of data attributed to an individual in the real world or in web3 is provided by the Masa Protocol.

Masa SBTs ( Soulbound Token ) :

On Celo's Alfrajores test net, Masa introduced Masa Soulbound Identity, the initial Soulbound Token identity protocol for web3, with an upcoming Ethereum main net planned. Using Masa Soulbound Identity, users from all over the world can obtain a Soulbound Token (SBT) that serves as their digital identity and claim their individual.soul name, which is similar to an ENS domain name. A user can use their Masa Soulbound Identity to create a web3 credit report and access a variety of Masa-based financial services in the future.

Use cases of Masa Soulbound Identity :

• Claim a .soul name (ENS domain name for Soulbound Identity)
• Web3 Credit Score
• Soulbound Token Single Sign-On
• Soulbound Airdrops
• One-Click NFT Whitelist Registration
• Web3 KYC and ID Verification
• Proof-of-Participation
• Web3 Reputation
• GameFi
• Proof-of-identity for DAO governance voting
• many more coming... :)

Problems solved by Masa :

• Uncollateralized loans : When a borrower wants to obtain a loan at a particular Loan to Value (LTV) ratio, they are required to post collateral in the form of Bitcoin (BTC) or Ethereum (ETH), resulting in 95% of lending in DeFi being collateralized or overcollateralized. In order for DeFi to become widespread, creditworthy individuals seeking better credit terms than those offered by banks should be able to obtain un/undercollateralized lending.
• Foul credit score : Due to a lack of crucial credit infrastructure that can trustlessly measure and price risk in real time for use in smart contracts and DeFi credit products, credit markets in the DeFi ecosystem are unable to reach mainstream lending markets.
• Developer access and usability : Traditional finance and DeFi cannot currently be connected through middleware, and developers cannot access encrypted financial data for smart contracts. The secure aggregation of off-chain and on-chain data in order to calculate a sharable decentralized credit score is made possible by Masa, a personalized finance management interface that is made available to individuals as well as businesses. Traditional financial data integrations are supported by Masa in seven nations; in conjunction with global coverage of cryptocurrencies; Through its credit infrastructure, this opens up a market for 3.3 billion prime and invisible prime individuals.

Reliable technology used:

Masa is permanently stored by means of the decentralized data storage protocol Arweave. Image data and metadata for Masa.Soul name. Arweave is a novel type of storage that, for the first time, allows users and developers to truly store data forever by backing it with sustainable and perpetual endowments. Arweave is a collectively owned hard drive that never forgets, allowing us to remember and keep valuable apps, history, and information forever. Masa Soulbound Identity aims to function as a digital passport for web3 users, allowing them to use DeFi, dapps, communities, games, and more. Your.soul name, such as masa.soul, will be your pseudonymous, one-of-a-kind name when the Masa Mainnet launches. This name will represent your Masa Soulbound Identity, which is a domain for your web3 identity.

With your Masa Soulbound Identity, you can apply for a DeFi loan, build a reputation in the game, vote in a DAO as an authenticated user, join an NFT allowlist as an authenticated user, and do a great deal more.

Future approach :

Masa intends to create SBT Tokens, which will become distinctive identities, technologies, and ways of interacting in a decentralized society. These are non-fungible, non-transferable tokens (NFTs), which are directly associated with the user and become the user's identity. Masa intends to acquire this token by targeting one billion WEB3 users in the future.

Summary :

Masa was created with the intention of becoming an identity and credit protocol that will be incorporated into numerous WEB3 projects worldwide. Masa assembles its personality convention on blockchain innovation and presents the best character convention which can permit clients to demand their .soul name and make their web3 personality and this will permit them to effectively login across DeFi, GameFi, DAOs, NFTs, and then some. Additionally, this will make it simpler for developers to quickly and safely develop identity identification and decentralized financial products. As a result, with what Masa has to offer, it will be able to create an equitable ecosystem that gives many people around the world choices and opportunities.

Useful links :

Official website: https://www.masa.finance/

Telegram group: https://t.me/masafinance

Discord: https://discord.com/invite/HyHGaKhaKs

Twitter: https://twitter.com/getmasafi

Reddit: https://www.reddit.com/r/MasaFinance/

Github: https://github.com/masa-finance

Medium: https://masafinance.medium.com

Publisher details :

BTT Username: sythe
Telegram: @anuragvikram
POA: https://bitcointalk.org/index.php?topic=5430758.msg61474913#msg61474913