The post Worldcoin Foundation launches open-source data security system appeared on BitcoinEthereumNews.com.

The Worldcoin Foundation has introduced an open-source system to enhance security for sensitive data. The system includes biometric information collected during registration for its Worldcoin (WLD) project. Now accessible on Github, it utilizes secure multi-party computation (SMPC) to safeguard data by distributing it across multiple locations. According to the foundation’s blog, the method involves “taking one secret and sharing it in multiple parts across different parties for increased protection.” The new system aims to set a higher standard for data protection, especially for biometric data. The Worldcoin Foundation also announced the migration to this new system and the deletion of old iris codes previously collected through Orb devices, which scan users’ eyeballs as part of the sign-up process. The process is part of the Worldcoin project’s method of verifying individuality and creating digital identities by distributing WLD tokens to participants. Collaborating with TACEO and Tools for Humanity, the foundation has addressed the scalability and cost challenges that have previously limited the adoption of SMPC technology. Improved data protection measures are needed as various organizations demand biometric verification. This development follows heightened scrutiny from international regulators concerned about the project’s data collection practices. Tools for Humanity, co-founded by OpenAI CEO Sam Altman, is the main developer behind the project. The company has recently taken steps to mitigate concerns over its data handling. Source: https://crypto.news/worldcoin-launches-data-security-system/

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Filed under: News - @ May 17, 2024 8:16 am