Shiba Inu Takes Step to Become DeFi Contender
According to a blockchain representative who spoke with CoinDesk on Thursday, the Shiba Inu ecosystem would link all of the applications to a blockchain-based digital identity to increase confidence between shib (SHIB) users and governments.
The move represents Shiba Inu’s most recent effort to shed its reputation as a joke token and compete seriously in the crowded blockchain industry for decentralised finance (DeFi).
Self-Sovereign Identity (SSI) is a digital alter ego of identity documents, providing users more control over their personal data and distribution online. Shiba Inu developers prioritize SSI deployment with community projects like SHIB and Shibarium blockchain. Rising interest in digital identities and data protection in Canada and the EU could position Shiba Inu as a tamer project compared to other blockchains.
(With inputs from Shikha Singh)
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