In an incisive critique, Vitalik Buterin recently shared his apprehensions about Sam Altman‘s new crypto endeavour, Worldcoin, in a fresh blog entry. The co-founder of Ethereum is sceptical of Worldcoin’s novel ‘Proof-of-Personhood’ system known as World ID. Worldcoin firmly advocates its ability to validate users by scanning their irises through a device known as an “Orb”, rather than storing personal data or relying on a central authority, offering a display of decentralization in its implementation.
However, Buterin scrutinised this technique on the grounds of privacy, accessibility, centralisation, and security. Elaborating on privacy, he asserted that an iris scan could inadvertently disclose more information than initially planned. World IDs may not be universally available due to challenges in accessing the ‘Orb’, thus putting accessibility under question. Moreover, Buterin drives the point of centralization, stating that it would be nearly impossible to verify the ‘Orb’ device’s conformity or the absence of backdoors, hinting at possible security risks. He also raises concerns around the implications of a hacked phone or coercion, which could lead to forced iris scans being shared.
In the face of these interconnected issues, Buterin admits that a perfect solution might not be present. Rather, he sees three paradigms of various approaches — social-graph-based, general-hardware biometric, and specialized-hardware-biometric solutions like Worldcoin — as having unique strengths and weaknesses. Regardless, he recognises that Worldcoin’s hardware does excel over more conventional identification systems, especially in terms of user privacy. Buterin pointed out that while specialised hardware systems may protect privacy effectively, they could increase concerns of centralisation.
The debate sparked by Buterin’s take didn’t stop the WLD token – Worldcoin’s native currency – from gaining momentum, with a 20% explosion on major crypto exchanges after Worldcoin’s mainnet debut. Thus, one might find a delicate balancing act amidst the competing notions of centralisation versus privacy and security in the context of blockchain technology. As cryto-enthusiasts, we remain at the precipice of these dynamics, waiting to see what may tilt the scales, and possibly, shape the future of the crypto world.
Source: Coindesk
