British regulators are interested in Worldcoin (WLD)
Date: 2023-07-26 Author: Karina Ziganova Categories: BUSINESS, IN WORLD
The British data regulator is studying Worldcoin (WLD), a project to verify identity through iris scanning. It is reported by Reuters
The regulator's interest in the startup of OpenAI CEO Sam Altman is explained by the launch of Worldcoin in the UK. What kind of checks are planned in relation to the project is not specified.
"We are celebrating the launch of Worldcoin in the UK and will conduct further investigations," a spokesperson for the Information Commissioner's Office told Reuters.
The first problems of Worldcoin
After the listing of WLD on major centralized crypto exchanges, the crypto community pointed out a number of risks related to the security of the project. Crypto market participants believe that Worldcoin has been actively expanding its user base at the expense of the children of Kenya and Chile.
In particular, one of the analysts published an archived version of the tweet from Worldcoin co-founder Max Novendstern. In the post, he boasted that the project is "actively promoted by children in Kenya and Chile." It also claimed that through the scheme, the project attracted about 150,000 new users.
Skepticism around the Worldcoin project is also heightened by the opaque method of distributing tokens. In particular, initially, out of 10 billion WLD, about 20% was allocated for private investors, but later this figure was increased to 25%. Moreover, one of the founders of Worldcoin, Alex Bania, refused to answer the question at all, how exactly the token is distributed.
Four risks of Worldcoin by Vitalik Buterin
Ethereum ecosystem co-founder Vitalik Buterin also questioned Worldcoin's technology. He recalled that the project at one time even allowed the use of a phone number as an alternative to scanning the iris.
What's more, iris scans raise serious privacy concerns. In particular, there is a risk of misuse or leakage of information related to user identification.
Another important risk was centralization. Buterin believes that the integrity of the design of the Worldcoin hardware device cannot be verified.
