After months of a global tour, the revolutionary endeavour by Sam Altman, Worldcoin, has garnered an impressive list of 2 million sign-ups. This feat reflects an accelerated trend, achieved in less than half the time it took to gather the first million enrollees.
The World ID project, set up by Worldcoin and still in a beta testing phase, seems to be gaining important ground. The initiative is pretty straightforward if rather huge in scope – a “global digital passport” housed on a smartphone that uses zero-knowledge proofs to safeguard privacy. Users voluntarily upload their intricate biometric data, their iris, and are compensated for it in Worldcoin’s eponymous cryptocurrency.
But despite the Worldcoin’s steady rise in popularity, would-be enthusiasts might falter at the enrolment step. Well, it directly involves having their eyeballs scanned at an orb, an act that generates a unique iris hash to verify identity. The marked reliance on personal, sensitive biometric data and the method of collecting it could potentially raise eyebrows, justifiable concerns about misuse, notwithstanding the proviso of privacy preservation via zero-knowledge proofs.
The popularity of the World ID protocol isn’t confined to individual users alone. Other protocols such as Okta’s Auth0 and Talent Protocol have integrated World ID and Worldcoin into their respective onboarding processes, adding another layer of credibility to Worldcoin’s project.
Worldcoin attributes its significant user base expansion to a multi-city tour in Barcelona, Berlin, and Tokyo, which reportedly resulted in approximately 40,000 verified World ID registrations every week. With more people joining the Worldcoin initiative and a surge in the use of the World ID protocol, Worldcoin expects increasing accessibility to their eyeball-scanning devices, or “Orbs.”
Despite the obvious pros, there are also deterring factors to consider. A significant quandary is the implications of surrendering biometric data to a third party. We can’t help but question how such sensitive data will be managed, stored and protected from potential cyber threats and illicit use. As Worldcoin’s user base expands and its services are increasingly adopted, this fundamental facet will need continued scrutiny and ironclad commitment to uphold user trust.
Worldcoin’s eye-capturing steady ascent—and its eyebrow-raising practices do present a compelling case. As with other aspects of blockchain technology, the Worldcoin initiative and its pioneering World ID project represents a tantalizing prospect of creating a globally authenticated digital identity. It’s a bold venture, filled with potential, and yet, not exempt from the pragmatic privacy and security concerns that it must continuously address.
Source: Cointelegraph
