A new discussion on the future of decentralized identity, artificial intelligence, and if iris scanning is the sole solution has been ignited by the Worldcoin launch.
Worldcoin Sparked AI Debate as Soon as It Launched
After three years of development, the contentious digital ID cryptocurrency Worldcoin launched on July 24. Sam Altman, the CEO of OpenAI, the business that created the well-known chatbot ChatGPT based on artificial intelligence (AI), was a co-founder of the project. Worldcoin gained notoriety as soon as it was announced in June 2021, promising to develop a cutting-edge digital identity system by scanning people’s eyes.
What Differentiates Worldcoin from the Others?
According to Worldcoin, as AI technology develops, it will get harder to distinguish between humans and bots online. Therefore, in order to distinguish between humans and AI, it developed a digital ID system based on proof of personhood. An individual’s iris will be scanned to create this digital ID, which will be given to them as their World ID.
The company states that the project does not save any personal data and that all biometric data will be maintained on a decentralized blockchain. Without disclosing the information needed to build the proof, it generates a zero-knowledge proof to confirm that the user is human. Despite ongoing criticism following its debut, Worldcoin was able to raise $115 million in investment in May and amass over 2 million signups prior to its public launch.
Users Concerned About Data Privacy
Privacy advocates, cybersecurity professionals, and cryptocurrency aficionados have all criticized the project in various ways. One of the first to respond to the debut was Vitalik Buterin, a co-founder of Ethereum, who voiced reservations about the process utilized to generate World IDs. Buterin claimed that it might be possible to check a person’s World ID by scanning their iris.
The MIT Technology Review reports that Worldcoin failed to gain genuinely informed permission and engaged in deceptive marketing tactics while also collecting more personal data than it disclosed. They also asserted that a sizable portion of its initial signups originated in developing nations in Asia and Africa, where data and privacy rules are less strict.
About Worldcoin
Worldcoin combines the World ID and the Worldcoin (WLD) token, two crucial elements of the ecosystem. The former is a digital identity that prioritizes privacy and helps people safeguard their anonymity online by helping to authenticate their identity and uniqueness. Users must undergo Orb biometric verification in order to get a World ID. Individuals are issued a distinct World ID and, if allowed by law, WLD tokens after successfully completing this verification.
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