OpenAI CEO, who is one of the founding partners of Worldcoin (WLD), has seen increased interest in the coin in 2024. The main reason for this is the rising popularity of OpenAI and Sam Altman being a significant price catalyst for WLD Coin. In a world where people buy altcoins because they heard Elon Musk mention them (which he actually didn’t), the fact that the CEO of OpenAI is one of the founders of WLD Coin naturally increases demand.
WLD Coin Privacy Concerns
We had written about why the Worldcoin initiative is risky in the long term. While some states are openly hostile to cryptocurrencies, others are implementing strict regulations. In such an environment, a crypto project that scans people’s eyes and gives them an identity is too conspicuous. Worldcoin is now taking action to alleviate these concerns.
According to the latest announcement, Worldcoin is offering users the option to request the permanent deletion of their eye scans or “iris codes.”
“Now, World ID holders have even more control, including the option to remove the verification of their World IDs. This also includes the permanent deletion of the iris codes, which are a digital representation of the unique iris texture.”
The company already claimed that biometric data was deleted “after creating the digital identity from the code.” With this move, the digital identity can also be deleted upon request. When users request the deletion of their iris codes, this will happen after a 6-month waiting period.
“At the end of this waiting period, the iris codes will be permanently deleted and cannot be recovered.”
Worldcoin News
About two weeks ago, the team took a new step to alleviate concerns about user data and governments’ concerns for their citizens. The new initiative called “Personal Custody” allows users more control over their data by storing it on personal devices. This could reduce concerns due to locally stored data.
The company will also initiate comprehensive age verification checks to prevent minors from benefiting from the services. The company wrote the following regarding these two measures;
“We are taking these steps by consulting with third-party privacy and security experts. We also take into account preliminary assessments by data protection authorities in some of the places where Worldcoin is available.”
Steps that can suppress regulatory concerns are likely to have positive outcomes on the price in the long term. For now, there has been no significant fluctuation in the price.
