Proof of Humanity Project World Coin World
+11.43%
announced that it will test facial recognition technology on users of its World app.
According to the statement, the new feature is a “personal 1:1 face comparison” that will ensure that only “people who have verified their World ID on the bead” can access the World app. The move is designed to enhance security for people who use the app for tools such as “online purchases, financial transactions, (and) secure login applications.”
The World App digital wallet currently has about 15 million users worldwide, and about 6.7 million users have officially verified their “personality” using one of Worldcoin’s iris scanning orbs, the organization said. Worldcoin assigns WLD tokens to those who have their eyes scanned to prove their identity and create a World ID.
The lead developer of the Worldcoin project, Tools For Humanity, was co-founded by Sam Altman, CEO of OpenAI.
According to Worldcoin, facial recognition via the World app is currently being piloted in some areas.
WorldCoin, Facing Investigation
Worldcoin’s efforts to bolster its security with facial recognition fit into a broader strategy to improve the project’s image among government regulators. Worldcoin has recently attracted attention with launches in Poland, Austria, and Malaysia, but the project has also occasionally sparked scrutiny in several other jurisdictions, including Colombia. Last month, Colombian regulatory authorities Blame Worldcoin In case of violation of the personal information protection system.
Earlier this year, Worldcoin also suffered a setback. Temporarily banned In Spain, shortly after the ban, Worldcoin implemented measures designed to provide users with more “peace of mind.” The practice was discontinued How to store and encrypt people’s biometric data.
While Worldcoin has always maintained that it takes privacy seriously and only uses biometric data to verify a person’s identity when creating a World ID, the fact that people are offering crypto tokens in exchange for having their irises scanned is enough to make government agencies, particularly in Europe where data privacy is a major issue, alarmist.
Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.
© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.