Ethereum’s Vitalik Buterin has just issued a warning about a new crypto project coming from the OpenAI CEO. Check out the latest reports about this below.
Ethereum’s Vitalik Buterin issues new crypto warning
Vitalik Buterin, the creator of Ethereum (ETH), has shared his thoughts on a newly-launched cryptocurrency project called Worldcoin (WLD), developed by OpenAI, the creators of ChatGPT.
Worldcoin aims to be a decentralized database that verifies users’ identities by scanning their irises with a hardware device called an “Orb.”
The project plans to manufacture 1,500 Orbs and deploy them across 35 cities to meet the global demand for World ID. Within hours of its launch, WLD token already has a fully diluted valuation of $22.5 billion and has seen a 33% increase since going live.
However, some have criticized Worldcoin for its potential privacy risks, including Buterin, who recently shared his views on the new altcoin in a lengthy post.
According to Buterin, he sees four major risks to Worlcoin that are the most obvious, the first of which being privacy.
“The registry of iris scans may reveal information. At the very least, if someone else scans your iris, they can check it against the database to determine whether or not you have a World ID. Potentially, iris scans might reveal more information.”
The billionaire highlights two main risks associated with World IDs. Firstly, accessibility may pose a challenge as the IDs may not be easily obtainable unless there is a significant number of Orbs available worldwide. Secondly, there are concerns about centralization and security risks.
There is a possibility that a back door may be added to the system by the Worldcoin Foundation for their own gain.
We suggest that you check out the complete original article posted by the online publication the Daily Hodl in order to learn more details about this.
