Decentralized domain name service JazDID will launch its first BNBChain decentralized ID domain name with the suffix “.bab”
JazDID Utility Will Extend to Soulbound Tokens and the USM Metaverse
JazDID, a decentralized domain name aggregator co-founded by American hip-hop star French Montanna, Null TX founder Mark Arguinbaev and USM.World founder Dr. Jeff Watney has announced the launch of its first BNBChain decentralized ID domain name with the suffix “.bab”. The JazDID project is incubated by the United State of Mars (USM.World), the largest metaverse on the BNBChain backed by notable Web3 Venture Capital (VC) firms such as OKX Ventures and Consensys Mesh.
How does JazDID work?
JazDID essentially works as a Non-Fungible Token (NFT). The JazDID domain name is linked to a wallet with a private key, thereby enhancing the privacy of all addresses linked to the Jaz decentralized identity since it allows users to hide their actual wallet address.
This way, JazDID effectively solves the privacy issues pertaining to the public exposure of user’s wallet addresses, as experienced in other Web3 decentralized identity protocols such as ENS domains. The privacy issue is part of the main motivation for the launch of the JazDID according to Jeff Watney the CEO of RACA.
“We saw that there are not enough utilities for ENS. In fact, we highly recommend users do not use ENS to send money to each other during the ETH merge events. There are many issues during ETH merge if you send money via ENS”. – RACA CEO Jeff Watney said in an exclusive chat with BSC News.
JazDID further provides soulbound game accounts, data, avatars, assets, profiles and a dedicated ZK (Zero-Knowledge) friendly KYC service for users. JazDID has released the .bab domain name service on the BNB Chain using Soulbound and KYC technology. The domain ownership will echo in the $BAB token which is a BNB Chain Soulbound token for its verified users.
“We also believe the main application scenarios for decentralized identity as a domain name service will be soulbound of game accounts, assets (game assets), and data (transaction record) so blockchain users can trade their DID domain names as gamers traded accounts of world of warcraft.” Jeff Watney further told BSC News.
.bab DID Mint Pass
The highly anticipated .bab DID mint pass would be available on JazDID commencing from September 15, 2022 (UTC 2 PM) with a total supply of 10,000. Further details indicate that the 10,000 .bab DIDs will be “10k club” four-character DIDs (0000.bab – 9999.bab).
Strategic Plans for Competition Ahead?
JazDID is poised to face competition from rival BNB Chain domain identifier SpaceID which recently raised a seed round led by Binance Labs. Broader competition in the blochain ecosystem will come from protocols such as the Ethereum Name Service (ENS).
“The biggest advantages is that the Jaz three-character and four-character DID domain name holders can earn up to 100 million BUSD inside the USM.world (to be launched on December 19, 2022). Whats more, JazDID holders can play World Cup 2022 games too. (to be launched on October 19, 2022).” Jeff Watney, the CEO of RACA told BSC News.
Source : bsc.news
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