myBID Whitepaper
  • Introduction
    • Terms & Definitions
  • The Digital Identity Crisis
    • History of Identity Verification
  • myBID: Web3-Powered Digital ID
    • Blockchain 101
    • Self-Sovereign Identity (SSI)
  • How Nations Gain From Digital IDs
    • Digital ID Adoption Across Nations
  • How myBID Empowers Nations
  • myBID in Action (Use Cases)
  • Partnership & Collaborations
  • Regulation & Compliance
  • Tokenomics
    • Mission
    • $MBID Token Allocation
    • How $MBID Works
    • Supply & Demand
    • Staking $MBID Tokens
  • Roadmap & Future Plans
  • Team & Advisors
  • myBID Technology & Security
  • myBID's Purpose-Driven Impact
  • The myBID Foundation
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The myBID Foundation

PreviousmyBID's Purpose-Driven Impact

Last updated 1 year ago

At the heart of myBID is a promise: to use digital identity as a tool for meaningful change. This commitment takes shape through the myBID Foundation.

Foundation Fundamentals

The Foundation will be built from a portion of the initial $MBID tokens. These are set aside in a separate, public wallet, which will be unlocked gradually over 3 years. This clear division ensures everyone can see where and how the Foundation's funds are used.

Digital Identity: A Game Changer

Many people in developing countries can't access essential digital tools and services due to a lack of digital identity. The Foundation wants to change that. By introducing reliable digital identities, we're giving people the chance to participate in the digital world, unlocking countless opportunities for them.

Community Participation in Giving Back

Token holders play a pivotal role in supporting the Foundation. By opting to stake their tokens, they can allocate their generated rewards to the Foundation, whilst retaining their principal assets. This presents a unique opportunity for investors to contribute charitably, bolstering our cause and making a positive impact on communities in need.

Looking Ahead

As the myBID ecosystem grows in use, we're exploring innovative mechanisms to enhance our platform and ensure a seamless transition for all stakeholders. Beyond our potential incorporation of a Decentralised Autonomous Organisation (DAO) that could offer our community greater decision-making capabilities, we're considering dynamic identity verifiers for more robust real-time validation, and token-based incentive structures to reward active participation. Our journey promises to be one of evolution and adaptation, always prioritising the needs and benefits of our community.