Vitalik Buterin Worries About Worldcoin’s Centralization and Privacy Challenges
Vitalik Buterin, the co-founder of Ethereum, has expressed significant concerns regarding Worldcoin, a controversial project co-founded by Sam Altman of OpenAI.
The project recently launched its WLD token to help people prove their identity online using iris-scanning orbs for “proof-of-personhood.” However, Buterin’s blog post highlights several potential risks and issues associated with Worldcoin.
One of the main concerns raised by Buterin is the centralization of the Worldcoin Foundation, which could lead to privacy and security issues. He questions the trustworthiness of the biometric proof-of-personhood system and suggests that the Foundation might have the ability to insert backdoors, enabling the creation of fake identities.
Buterin also points out accessibility issues, as not everyone may be able to acquire the necessary Orb device to participate in the system. Additionally, the registry of iris scans could potentially reveal more information than intended, leading to further privacy concerns.
READ MORE: Web3 to Transform the Internet, According to Japan’s Prime Minister
Despite these concerns, Buterin acknowledges that a perfect solution may not exist. He suggests a combination of approaches, including community accountability, audits, and checks, to address the issues. However, he also recognizes that completely abandoning “proof-of-personhood” could lead to other problems, such as centralized identity solutions dominating the world.
Regarding the performance of the WLD token, it experienced significant growth following its launch, with various digital asset exchanges, including Binance, Bybit, OKX, Huobi, and Gate, quickly starting trading for the token. As of now, the WLD token is valued at $2.12, showing an increase of over 50% from its initial launch price. The Worldcoin project has reportedly attracted more than 2 million users worldwide.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
