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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Ethereum co-founder Vitalik Buterin has showered accolades on Worldcoin (WLD), the embattled biometric technology startup co-founded by OpenAI CEO Sam Altman.
Since its inception, Worldcoin has faced struggles from regulators around the world with the basic complaints hinging on privacy and the mode of handling users’ data. This criticism has forced many regulators around the world to ban Worldcoin’s activities, with Portugal and Spain being two of the latest to join the train.
Louis Anslow, an X user, made a sarcastic post about getting scanned in Portugal using German Orbs in 2021. Responding to this post, Vitalik Buterin noted that he believes Worldcoin has made tremendous improvement in achieving data efficiency.
Buterin pointed out that Worldcoin has been taking the data critiques seriously and is working to design its system so it can be more and more data-minimal. This improvement, he noted, is a major wonder of modern cryptography, which according to him is “truly amazing.”
As part of its recent measures to address regulators’ concerns, Worldcoin announced that it has put an end to centralized data custody as it wants users to explore self-custody of their respective data.
One crucial theme of Vitalik Buterin’s accolade is that the masses might be very antagonistic to a new piece of technology no matter how revolutionary it is. Worldcoin aims to maintain a unified database of humans whereby biometric verification can be based on the legitimate capture of humans.
As a tech pioneer, Vitalik Buterin understands what it means to be at the frontline of technology with a low acceptance rate. Ethereum, as it stands, is also facing a probe from the United States Securities and Exchange Commission (SEC) as the regulator aims to designate it a security.
If successful, industry experts believe the odds of approval of a spot Ethereum ETF will be significantly lower.