Worldcoin promises more privacy through its new implementation as it seeks to build users’ trust.
The iris-scanning crypto project Worldcoin has introduced a new feature that allows users to retain control of their data while harnessing the technology of the eye-scanning biometric device. Dubbed the Personal Custody, the project implements this approach to give users “high security” of their data.
How Does It Work?
Since Worldcoin began onboarding new users, the project has been responsible for storing users’ data. Users scan their eyeballs through the iris-scanning device called the Orb and submit their data with the project. These data are in turn stored on the blockchain.
This process has caused mixed feelings among users and government authorities with many frowning at the project. Even though some countries embraced the technology, the majority have questioned the project’s data collection practice. France, Hong Kong, Kenya, and South Korea are among the countries that have discouraged Worldcoin adoption among citizens.
Worldcoin introduces the Personal Custody capability as a game-changer. The project explained on its announcement page that all “images, metadata, and derived data” created during the World ID verification for new and existing users will be retained in each user’s device.
The new implementation also unlocks access to face authentication, a feature that allows users to verify at any time the fact that they were the ones who own a World ID during verification at an orb. Once activated, the Personal Custody implementation allows users to create a public-private key pair to protect their data.
To fortify users’ trust, the project added that Worldcoin backend engineers cannot decrypt user’s data even though they hold the user’s public key. Users can also learn about Worldcoin’s suite of products before deciding to onboard the platform.
Impact on WLD Token
In most occurrences of a crackdown from government authorities, Worldcoin’s native ERC-20 token experiences a price drop. With the implementation of Personal Custody, the project may be able to win over the trust of more users and potentially bolster its value.
Notably, a mild price increase has occurred as WLD currently trades at $8.3, representing a 4.4% surge in the past 24 hours.
