Cardinal
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Overview
Despite the fact that one can verifiably assert and trace ownership of a given NFT on a blockchain, the party evaluating its authenticity must still trust that its issuer is in fact who they claim to be.
For example, if a person was claiming to have attended University X and had presented an NFT diploma that could be verfiably be linked to an issuer called University X, the evaluating party would have no means of ascertaining whether or not that issuer was actually the TRUE University X. This is the centralized plight for all tokenizeable assets being issued as NFTs.
Ultimately, you as an owner and verifier must accept that the token's issuer is legitimate, and the assertion of legitimacy is nothing more than the word of the relevant party. To truly be decentralized, the issuers themselves must be validated by the ecosystem of NFT participants.
The Cardinal Dao aims to solve this problem by existing as a distributed organization that governs the issuance of NFTs and offers a seamless mechanism for authenticating them through their issuers.
Issuers in different domains in the network will issue NFTs of various types and be verified themselves by domain-specific electorates governed by the broader DAO. CDNL will be the native token of the Cardinal ecosystem which will serve in part to create a distributed voting framework to approve new representatives in specific electorates that will in turn govern the verification of issuers in their respective domains.
Cardinal will build tools for accreditation that integrate with existing validation mechanisms and issuer systems, as well as offer white-glove end-to-end services to help enable widespread adoption of Cardinal-verified NFTs. The ultimate vision for the governance structure is to align incentives of issuers and governing bodies to provide meaningful autonomy and decentralization without compromising the recognized value of their issued tokens.
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