People Globally Line Up for Worldcoin’s Iris Scan; Project Faces Backlash

Worldcoin Reservation
Summary: Worldcoin, an innovative cryptocurrency project, has faced controversy due to concerns about fraudulent data collection practices. The project uses an "orb" gadget to create digital identities, creating unique "world IDs." Critics argue that the system may misuse users' data and exploit those in developing countries.

Three days have passed since OpenAI founder and CEO Sam Altman made the Worldcoin project public. Worldcoin is an innovative cryptocurrency project that creates digital identities by scanning people’s eyes using an “orb” gadget. By going through this procedure, a unique “world ID” or “proof of personhood” is created.

Sam Altman tweeted on July 26 that there are long queues of people waiting to obtain their digital IDs as part of the World initiative. However, Worldcoin has been at the center of controversy, with several industry figures criticizing the effort. There is concern that the initiative is engaging in fraudulent data collection practices.

Industry Veterans Disappointed

Many people in the cryptocurrency community feel this proposal goes against the spirit of decentralization. Jack Dorsey, Twitter’s creator, expressed his disapproval of the situation in response to Sam Altman’s post on Wednesday.

Recently, Ethereum co-founder Vitalik Buterin voiced his worries about the system’s potential for misuse and the associated privacy problems. Others have voiced worries, too, about the data of users being used.

On-chain crypto analyst ZachXBT stated:

“Most alarming to me is how the WorldCoin team has boasted about how many users they have. When in reality they have been exploiting people in developing countries”.

UK Investigating the Initiative

Moreover, recently the UK’s data watchdog voiced similar worries and said it would open an investigation into the Worldcoin initiative.

To handle personal information, businesses require a solid legal foundation. In cases where they depend on permission, the UK’s data protection regulator has stressed that it must be freely provided and easily rescinded without adverse consequences.

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