As you all know, I publish technical analyses of cryptocurrencies almost every day. My followers know they can comment their doubts and also request new coins to be added to the analysis queue. So a devoted follower asked to me for the cryptocurrency #Worldcoin to my #TechnicalAnalysis ... but before diving headfirst into this, there's some big news about this project that's super disruptive!!! Don't you think?
📝 Worldcoin ( $WLD ) has unveiled a groundbreaking initiative dubbed "Personal Custody" to enhance trust among its user base. This initiative marks a significant shift in how biometric data is managed during the World ID verification process.
Previously, users had the option to store and encrypt their biometric data upon signing up for a World ID. However, with the introduction of the Personal Custody feature, this option will be phased out.
📝 Under the new system, biometric data captured by Orb during World ID verification will be stored on users' personal devices, typically their smartphones. This empowers users with full control over their data, including the ability to delete it at their discretion.
📝 Tiago Sada, representing Tools for Humanity, the company behind the altcoin, emphasized that while Worldcoin has always prioritized privacy, the Personal Custody initiative serves as an opportunity to strengthen trust among potential users who have yet to register.
📝 Furthermore, in a bid to promote transparency, Worldcoin asserts that Orb will release key components of its software on GitHub.
📝 Despite these efforts, Worldcoin has faced criticism for its privacy practices, particularly regarding iris scanning and issuing WLD altcoins to unregistered users.
🗒️ What do you think about this improvement in the WLD project?
