WorldCoin to Open its ID System for Government and Private Companies: Report
Sam Altman co-founded tech firm WorldCoin is extending its reach by enabling governments and private businesses to leverage its controversial iris-scanning and identity-verification technology, Reuters reported.
WorldCoin continues to attract regulatory scrutiny for its tech that is being used to collect people’s data by scanning their iris.
Ricardo Macieira, the General Manager for Europe at Tools For Humanity, the company behind the Worldcoin initiative, outlined the vision, told Reuters, "We are on this mission of building the biggest financial and identity community that we can."
He further emphasized the project's pursuit of creating a widespread infrastructure that not only benefits its own users but also accommodates third parties seeking to integrate this tech used as an ID system.
The signature element of Worldcoin's identity system involves the use of iris-scanning orbs, which individuals use to verify their identities.
The company's recent launch garnered attention as individuals queued up to participate in the iris scan process lured in by free cryptocurrency tokens in some regions.
As reported earlier, concerns about the privacy and potential misuse of biometric data by WorldCoin have been raised by privacy advocates and regulatory bodies around the world.
Despite the concerns around privacy and data protection regulations, Worldcoin claims to have signed up over 2.2 million users, primarily during its two-year trial phase.
As per WorldCoin’s website, the company allows users to choose whether their biometric data is stored in encrypted form or deleted altogether.
Macieira expressed the intention to make the technology that powers the iris-scanning orbs open-source, enabling wider utilization by different
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