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SHIB Price Rises as Shiba Inu Initiates Countdown for ‘Identity’ Project

SHIB Price Rises as Shiba Inu Initiates Countdown for ‘Identity’ Project

DateOct 30, 2023

On October 28, the official Shibtoken Twitter account announced a surprise Shib Identity launch set to take place in just 72 hours.

Self-Custodial Identity Unveiled by Shiba Inu

While specific details about this digital identity remain under wraps, Shiba Inu characterized it as a revolutionary development within the blockchain sphere. The project also offered a $5,000 SHIB Giveaway to its community.

Prominent Shiba developer Shytoshi Kusama highlighted it as one of many exciting developments within the digital asset ecosystem. He said:

“Many things on the horizon to help embrace the possibility of a peaceful world with #SHIB as the foundation.”

Another developer, Kaal Dhairya, described the project as the first step towards self-custodial identity.

Meanwhile, the video has triggered optimism within the community, with several SHIB holders eagerly anticipating more information about the digital identity project.

Vision For Self-Sovereign Identity

Shiba’s recent revelation aligns with an earlier disclosure of plans to incorporate Self-Sovereign Identity (SSI) into all Shiba projects.

In August, Kusama shared the vision of creating digital identities for users. The blockchain-based digital identity aims to provide users with a consistent identity across all Shiba Inu projects, fostering trust among users and governments.

Meanwhile, these projects align with the strategic initiative to transform Shiba Inu into a versatile utility token. Notably, Shiba Inu has achieved a significant milestone with the successful introduction of Shibarium, a layer-2 scaling solution.

This solution has gained swift adoption, with Shibariumscan data revealing it has completed over 3 million transactions.

Sources>>SHIB Price Rises as Shiba Inu Initiates Countdown for ‘Identity’ Project