The WorldCoin project had its genesis in 2019, when a group of visionary developers from Tools for Humanity set out to create a cryptocurrency that would overcome the limitations of traditional currencies and offer an innovative global financial solution. Inspired by blockchain technology and motivated by the desire to establish a more efficient and accessible monetary system, these pioneers embarked on a journey to bring to life what would eventually become WorldCoin.
Surely you have heard about Sam Altman, board member of OpenAI and current founder of this highly controversial cryptocurrency. And why is it controversial?
Let's look at the following points:
⛓Digital Identity and Blockchain Technology
WorldCoin's use of blockchain technology adds an additional layer of complexity. Although it offers potential benefits in terms of security and transparency, the incorporation of biometric data into the blockchain raises irrevocable concerns due to the immutable nature of this technology.
👩‍⚖Legal Ethics around Biometrics and free consent
The use of biometric data, such as iris prints, carries significant privacy and security risks. The uniqueness of this data means that its misuse has potentially serious consequences. Although WorldCoin claims to obtain “explicit consent” for the collection of this information, the nature of this consent and its compliance with the EU General Data Protection Regulation (GDPR) is debatable.
One of the most controversial questions is whether the consent obtained by WorldCoin can be considered "free." WorldCoin's model, which conditions the receipt of digital tokens and the creation of a unique identity on the submission of biometric data, raises questions about whether users truly have a free choice when participating in this exchange. Since, when registering it asks you if you want it to save your information or not.
âš–Regulatory perspective on Worldcoin
Data protection regulators in Europe are closely examining WorldCoin's activities. In both France and Germany, authorities have launched investigations into the transparency and security of WorldCoin's handling of data. These investigations seek to clarify issues such as the adequacy of information provided to data users, the protection of data users' rights, and the conduct of an appropriate data protection impact assessment.
However, WorldCoin has backed its initiative as a novel answer to confirming identities in the digital age, arguing that its World ID guarantees access, privacy and security online. Despite this, the company is facing significant obstacles in terms of regulatory compliance and public acceptance, especially in Europe, where the protection of personal data is of high importance and there is currently a negative reaction in several countries towards Worldcoin.
đźš«Privacy and Authentication
As we move towards a broader digital future, it will be important for businesses and regulators to work together to reassure people that technological advances do not come at the expense of everyone's fundamental rights and freedoms. Above all, the protection of personal data, when it comes to biometric information, must be handled with great care and respect for individual autonomy and human dignity.
The controversy lies over WorldCoin and its iris scanning system, for creating an account, highlights how technology, privacy and ethics are intertwined in the current context of data protection. Although the idea of ​​having a unique digital identity offers advantages to strengthen security and authenticity on the Internet, it also raises important questions about individual control and the protection of personal information.
It is recommended that technological innovations like WorldCoin are not only developed with technical and marketing considerations, but also with a strong commitment to ethical and legal principles. Creating global standards for digital identity and data management. Likewise, to all the people who are just starting out in this ecosystem, ask them to inform themselves well, read a lot from reliable sources, so that they can choose whether or not they want to provide their data in wallets, apps, blockchain platforms.
