Sam Altman’s iris biometric crypto project Worldcoin under scrutiny from regulators and governments around the world, especially in Europe due to data privacy concerns. Despite being under the cloud, Worldcoin has received support from crypto community and now from Ethereum co-founder Vitalik Buterin, who earlier pointed out multiple issues in Worldcoin’s identity system.

Ethereum Creator Vitalik Buterin Lauds Worldcoin

In an X post on March 29, Ethereum co-founder Vitalik Buterin praised Worldcoin for taking the privacy criticism seriously to improve the system to be better data-minimal. He responded to a post regarding the recent setback faced by Worldcoin in Portugal.

Vitalik Buterin said he believes Worldcoin has been doing quite a good job of introducing system design changes in response to privacy criticism. He also lauds the technological advancements in modern cryptography.

“IMO they actually have been doing quite a good job of taking the privacy critiques seriously and designing their system to be more and more data-minimal. Modern cryptography is truly amazing,” said Vitalik Buterin.

Vitalik on Risks and Issues in Worldcoin

In July last year, Vitalik Buterin shared his opinions on Worldcoin’s biometric identity verification mechanism. He claimed that Worldcoin’s personality-proof system raise concerns about privacy and security and require continued development to improve the system.

He said while the system designs to improve privacy concerns could take years, WLD coin’s poor design, privacy, and security concerns around the Orb, and some of the company’s business decisions are some things that needs to be considered.

Also Read: Dogecoin (DOGE) Price On A New Macro Uptrend, 50% Rally Expected

WLD Price to Rally?

Despite facing setbacks in many countries such as Portugal, Spain, South Korea, Kenya, and others for data privacy concerns, Woldcoin’s WLD price has continued to surge.

WLD saw 400% gains this year, with more than 10% jump in price in March. In fact, WLD price hit a new all-time high of $11.82 on March 10. Since then, the price has been trading in a descending channel and traders await a break above the channel. There is upside momentum currently amid development related to AI.

As per CoinGape Markets, the formation of a bullish flag pattern in WLD hints the buyers take a minor pullback before an aggressive up rally to $12.

WLD price jumped 1% in the past 24 hours, with the price currently trading at $8.52. The 24-hour low and high are $8.26 and $8.69, respectively. Furthermore, the trading volume has decreased by 40% in the last 24 hours, indicating a decline in interest among traders.

Also Read: Over $15B in Bitcoin and Ethereum Options Expiry, Big Crypto Rally or Crash?

The post Vitalik Buterin Praises Worldcoin, WLD Price Reversal to $10 Ahead? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am