• Vitalik Buterin, creator of Ethereum (ETH), has issued a warning about Worldcoin (WLD) after its launch.
• The project aims to verify user identities by scanning their irises with a hardware device called an Orb.
• Buterin has identified four major risks associated with the project: privacy, accessibility, centralization and security.
Vitalik Buterin Warns On Worldcoin
Ethereum (ETH) creator Vitalik Buterin is warning about the newly launched crypto project from OpenAI, Worldcoin (WLD). After its official launch, WLD token already has a $22.5 billion fully diluted valuation (FDV) and is up 33%. Buterin has identified four major risks associated with the project: privacy, accessibility, centralization and security.
Buterin’s first concern regards privacy. He worries that the registry of iris scans may reveal information to third parties who scan the users’ eyes against the database to determine if they have a World ID or not. Additionally, there could be more data revealed through iris scans than meets the eye.
The second risk according to Buterin is accessibility as many people will not be able to reliably access a World ID without an astronomical amount of Orbs all over the planet.
Centralization & Security Risks
Buterin also sees potential centralization and security risks in that it may be possible for someone to insert a backdoor into the system for their own benefit or for hackers to gain access to user’s phones or coerce them into scanning their irises while showing a public key that belongs to someone else. Furthermore, it is possible for 3D-printing “fake people” who can pass an iris scan and get World IDs as well as other security threats specific to this type of projects exist too.
In conclusion, Vitalik Buterin has raised important issues regarding potential privacy, accessibility, centralization and security risks when it comes to Worldcoin – something which should definitely be taken into consideration before investing in this token or any similar project in general.