Identity-based Cryptocurrency Market Analysis: A recent surge of interest and investment has been seen in the field of identity-based cryptocurrencies, especially the likes of
Worldcoin, SPACE ID, and Privado ID. Rapid change and innovation in the sector are apparent, with ID Coins focusing on user privacy, consent, and control over personal data. Many, such as
Worldcoin and Humanity Protocol, have adopted facial recognition and biometrics while others like Billions Network offer non-biometric digital solutions. Moreover, decentralized identity (DEID) projects are gaining momentum.
Notably, Worldcoin has been expanding globally, with
network launches reported in Turkey, Argentina and throughout Europe. Turkey in particular is stimulating crypto usage with new Anti-Money Laundering rules. Expanding into the Web 3.0 platform, SPACE ID and Gravity have introduced domain names that provide digital identities for users.
The controversial side includes debates surrounding the violation of user consent for personal data usage, a subject highlighted by
Privado ID. Expansion is key but privacy concerns, such as for Worldcoin, are prevalent. Even amidst skepticism, the
Worldcoin brand has been very proactive, undertaking a major rebranding exercise and ramping up Iris scanning.
Regulatory and governmental incorporation is also on the rise as seen in Buenos Aires where 3.6M residents now have blockchain-based IDs and in Malaysia where Worldcoin has been adopted for personal verification and digital ID purposes. SPACE ID, Concordium and Worldcoin are exploring market movements while MicroStrategy plans to launch a Bitcoin-based decentralized ID solution.
Malaysia is preparing its citizens for the Worldcoin era, which symbolises the increase in crypto adoption internationally.
ID Coin News Analytics from Thu, 13 Jul 2017 07:00:00 GMT to Sat, 29 Mar 2025 05:17:27 GMT -
Rating 6
- Innovation 4
- Information 9
- Rumor -3
