Vitalik Buterin, the founder of Ethereum, commented on the 4 major risks in the structure of Worldcoin.
Vitalik Buterin made comments about Worldcoin after today’s listings. Buterin talked about the 4 big risks in the token structure.
4 big risks Vitalik Buterin sees in Worldcoin
Ethereum founder Vitalik Buterin outlined the four main risks associated with the biometric-based authentication system Worldcoin uses. The risks Buterin pointed out were related to privacy, accessibility, centralization and security.
In terms of privacy, he pointed out that Worldcoin’s iris-scan authentication system carries a risk of identity-related information being misused or leaked. Although only hashes of iris scans are stored in the system, there are potential risks of revealing identity-related information.
Accessibility concerns may limit the project’s access as users need to access the physical device called the Worldcoin Orb. He warned that if enough Orbs aren’t found, there could be an imbalance in distribution towards city centers.
As for centralization, Orb pointed out that the integrity of the hardware device cannot be verified, thus leaving the possibility of backdoors. He also said that the governance and algorithms of the project also had centralization concerns.
Finally, he touched on the risks related to security such as phone hacking, identity theft and fake people. He stated that such risks are not unique to Worldcoin’s solution alone, but that authentication systems in general face such risks.
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