16.5 C
New York
September 30, 2024
News Network

Worldcoin token launch sparks response from Vitalik Buterin

The Ethereum co-founder released a long-form response to the launch of Worldcoin’s decentralized human identity verification system.

Vitalik Buterin, the co-founder of the Ethereum network, released a long-form essay with his thoughts on the recently launched Worldcoin human identity verification system.

On July 24th, Buterin tweeted his response to Worldcoin which launched on the same day.

In his article, along with an explanation of Worldcoin and how it intends to work, Buterin addressed the larger concept in discussion within the release of the Worldcoin token — proof-of-humanity.

Worldcoin, along with similar identity solutions, such as Proof of Humanity, BrightID, Idenam and Circles, believe that as artificial intelligence (AI) advances, it will become increasingly difficult to distinguish between humans and machines.

Most of these systems that supply a token type, such as Worldcoin, also see human utility being endangered by bots and therefore needing a universal basic income.

Buterin writes that these factors combined beckon the need for digital verification of humans. He argues that this system of proof of personhood is valuable to solving “anti-spam and anti-concentration-of-power problems.”

READ
SHIB loses momentum: Why a bearish retracement may be next

Additionally, the Ethereum co-founder also highlights that systems like Worldcoin, if it continues to decentralize as promised, will avoid “dependence on centralized authorities and reveal the minimal information possible.”

In conclusion, Buterin said there is currently “no ideal form of proof of personhood” and envisions three different approaches to the problem that could become a hybrid of each other. 

He called for community accountability in the process with audits, checks and balances. Although saying he does not envy those whose task it is to design and implement such systems, his point is simple:

“A world with no proof-of-personhood seems more likely to be a world dominated by centralized identity solutions, money, small closed communities, or some combination of all three.”

As of July 14, a week before the system’s launch, sign-ups for Worldcoin World ID surpassed 2 million in less than half the time it took to reach the first million.

Related posts

Caroline Ellison desired to step down but feared a bank run on FTX

admin

Binance CEO CZ forecasts DeFi outgrowing CeFi in the next bull run

admin

Bitcoin Bulls Fail Again, But There Is Still Hope

admin