Decentralized identity in blockchain technology, often referred to as World ID, is increasingly gaining recognition for its potential to reinvent how we handle digital identities. Blockchain identity projects like
Worldcoin's World ID are extensively testing anonymous KYC methods for mainland Chinese in Hong Kong and they are expanding their coverage worldwide, moving into Guatemala and Argentina, amongst others. Recently, it was announced that World ID can now be used on the Solana network thanks to Wormhole and in Austria, due to system expansion. At the same time, the World ID system is facing stringent privacy checks and has added an unverification feature to offer users the chance to delete biometric data.
MicroStrategy also announced it will be launching a decentralized ID platform on Bitcoin —
MicroStrategy Orange, intensifying competition in the field of blockchain identity verifications. In spite of widespread adoption, the World ID system has faced considerable criticism, especially related to privacy concerns, as misinformation spread that it could be a scam to collect identity data. However, the rising price of the native cryptocurrency, Worldcoin (WLD), hints at confidence in the technology despite these concerns. World ID's innovative system of turning the user's iris into a cryptographic code also aims to support universal basic income.
Companies like Animoca’s Mocaverse and KuCoin are also looking for ways to streamline cross-platform identity while others like Postman are teaching how to use their tools for API testing, further exploring the potential functions of decentralized identities.
ID Coin News Analytics from Tue, 28 Jun 2022 05:31:21 GMT to Fri, 13 Dec 2024 07:07:30 GMT -
Rating 8
- Innovation 7
- Information 9
- Rumor 10
