The function of crypto wallets has changed significantly over the last few years. They initially secured token holdings or served as art galleries with nonfungible tokens (NFTs). Today, they’ve become like bank accounts for many, and soon, they will offer even more functionality by enabling digital curriculum vitae (CVs).
In a May 2022 paper, Ethereum co-founder Vitalik Buterin and others introduced the concept of “Soulbound tokens” (SBTs). Buterin and his co-authors argued that credentials on a blockchain offer many advantages to establishing provenance and reputation.
Nonfungible tokens will serve as essential building blocks
Many Web3 projects have small teams without a professional HR department to check candidates’ credibility. But with digital CVs, it will become much easier to verify credentials. One could even imagine automatic employment becoming feasible if a candidate’s wallet holds the required credentials.
It’s unclear if Web3 CVs will win mainstream adoption, as that also depends on the general adoption of crypto-related infrastructure and improvements in UI and UX. But we can predict with great confidence that, at least within crypto, they will become the norm.
Darius Moukhtarzadeh is a cryptocurrency entrepreneur focused on decentralized social media applications. He previously worked as a researcher for Sygnum, a digital asset bank. He also worked for Ernst & Young in blockchain consultancy and for several startups in the Swiss Crypto Valley.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.