Ethereum co-founder Vitalik Buterin wrote on his blog on Wednesday that he expressed concern over OpenAI CEO Sam Altman’s new cryptocurrency project, Worldcoin (WLD), which launched its mainnet this week.
Point out four concerns
Buterin pointed out four major concerns about Worldcoin’s user authentication system, called PoP (Proof of Personal Hood).
Worldcoin claims to be able to authenticate users without storing personal data or relying on a central authority. To get a “World ID,” users need to scan their iris with a device called an “Orb.” Compatible apps, such as Worldcoin’s own wallet application, can utilize Worldcoin’s network of authenticated users to customize services and eradicate bots.
Buterin argues that the system has potential issues around privacy, accessibility, centralization and security.
First, Buterin said scanning the iris could reveal more information than intended. For example, if a third party scans the iris of a World ID holder, by running it against the WorldCoin database, they can at least get information about whether that person is using the system. Buterin also pointed out that not everyone has easy access to the World ID because of the difficulty in getting the “Orb”.
Britten also argued that ‘Orb’ is a hardware device and that ‘there is no way to verify that it was built correctly and has no backdoors.’ “The Worldcoin Foundation still has the ability to create backdoors into the system and arbitrarily create a large number of false identities,” he said.
Finally, Britten expressed security concerns over Worldcoin as users’ phones could be hacked or forced to provide iris scans.
Three approaches to identity authentication
Buterin said there is no perfect solution to overcome these problems, but “instead, there are at least three different approaches to think about, each with its strengths and weaknesses.” The three approaches are known as social graph-based, general-purpose hardware biometrics, and dedicated hardware biometrics (such as Worldcoin).
Buterin also pointed out that Worldcoin has taken certain steps, especially in terms of user privacy, by utilizing hardware that is superior to traditional identification schemes. “Dedicated hardware systems seem like they can do a pretty decent job of protecting privacy,” he said.
The newly launched WLD token surged more than 20% on major cryptocurrency exchanges on the 24th following the launch of Worldcoin’s mainnet.
｜Translation: CoinDeskJAPAN
｜Editing: Rinan Hayashi
｜Image: Shutterstock
｜Original: Ethereum’s Buterin Expresses Concerns Over Sam Altman’s Worldcoin
