Identification News

World claims to offer financial inclusion through identity verification, but critics warn it may sacrifice decentralization, privacy, and self-sovereignty.

World, formerly known as Worldcoin, is a digital ID project that uses iris scans to create a digital identity.

Privado ID co-founder Evin McMullen warned against short-term thinking for quick economic gains and compromising ethical standards.

With the advent of Web3, decentralized identity solutions (DIDs) are considered key for securing users’ digital footprint.

Although World has reached a significant milestone, regulatory headwinds across jurisdictions remain a challenge for the project.

“The whole problem with centralized systems is that there’s a center,” Naoris chief strategy officer David Holtzman told Cointelegraph.

According to World Bank data, an estimated one billion individuals worldwide lack official identification credentials.

The governments of Australia, Palau, Argentina, and Estonia are experimenting with different forms of decentralized identity solutions.

The blockchain identity verification project also announced new verification methods.

Because biometric data cannot be replaced, storing the data requires the highest levels of security, Evin McMullen told Cointelegraph.

Biometric verification is an everyday part of life, but Privado chief product officer Sebastian Rodriguez says users should be curious about how service providers use their data.

One year in, Worldcoin’s vision of a universal digital identity system shows promise with millions of users.

This breach highlights the ongoing challenges in maintaining data security, especially in today’s centralized storage systems.

Aptos Connect allows users to log in with a Google ID without needing an MPC Network, Magic Links, or Windows passkey.

Blockchain needs more non-speculative use cases to onboard the next billion mainstream users.