Worldcoin launches new data protection standard as competitor emerges

The Worldcoin Foundation implemented an open source system that they claim can improve the protection of sensitive information, including the biometric data they collect when people register with the Worldcoin project to receive their cryptocurrency.

This is a system known as secure multi-party computation (SMPC), an open source protocol that It is available in a Github repository. Its purpose is to establish a new standard for biometric data protectionas explained by Worldcoin in a statement on May 15.

According to Worldcoin’s writing, the implementation of the new open source system, based on secure multi-party computing, has already been audited. “After entering production in March with existing iris codes encrypted in secret codes, the SMPC protocol was run to verify reliability. In May 2024, the old system was safely removed,” the writing adds.

They also point out that the new system complements Worldcoin’s intention to provide users greater control as to how your data is handled and where it goes. Therefore, it includes personal custody and the ability to deverify your global IDss, which is the ID that is saved when people’s irises are scanned with the device orb.

They thus promise to break down people’s information in a coded way so that the data cannot be related to any person and is kept secret.

With SMPC data is distributed securely in different places. It can be thought of as taking a secret and sharing it multiple times between different parties for greater protection.

Worldcoin.

It is striking that the new system is presented not only amid criticism from regulators, but at the same time that Humanity Protocol, a decentralized zero-knowledge identity project, which seeks to compete with Worldcoin, obtains financing of USD 30 million and It is valued at USD 1,000 million.

According to the team behind this other project, the resources obtained will cover the hiring and development costs for the launch of the Humanity Protocol test network, which is scheduled for the second half of this year. A launch that possibly makes this project the main competitor of Worldcoin.

Humanity Protocol focuses on generating unique digital identities and uses “cutting-edge” technology to obtain biometric data, but is based on recognition from the palm of the hand. A tool with which they also intend to collect people’s data and that possibly will raise as many questions as Worldcoin has.

Worldcoin seeks to comply with regulations in the face of regulatory fence

As Worldcoin explains in its statement, one of its main goals with the new data protection system is to implement advanced technologies focused on privacy. Regarding this, Remco Bloemen, head of protocol at the Worldcoin Foundation, points out that the objective is to “increase the robustness of the Worldcoin protocol, and at the same time, establish a new security standard.”

In this way they seek to comply with the General Data Protection Regulation of the European Union and similar regulations in force in other countries. It is precisely about one of the main questions that are made to the cryptocurrency project, in most jurisdictions where they have been installed to collect information.

As CriptoNoticias has reported, Worldcoin has faced problems with regulators in at least 10 countries, where the destination and use of the data they collect in the operations they carry out is questioned. In fact, in countries such as Kenya, Spain and Portugal, its activities were prohibited; while in Argentina they face an accusation.

Given this, the company insists on signaling its willingness to comply with data protection regulations. In March 2024, it made its software orbwhich scans the iris, went open source and implemented a new “personal custody” privacy feature for user data.

It later said it would tighten privacy controls and allow users to override digital ID verification. Now launch this new SMPC system.

Still, doubts about data handling persist among regulators, although The popularity of the project remains. According to company data about 10 million people have registered on Worldcoin and there are many who, in various countries around the world, continue to hand over their data in exchange for the Worldcoin token (WLD).