Worldcoin (WLD) Gains Momentum After Ethereum’s Vitalik Buterin Acknowledgement

• Ethereum co-founder Vitalik Buterin has lent support to Worldcoin amid its regulatory challenges and privacy criticisms.
• Buterin commended Worldcoin’s efforts to address privacy concerns by minimizing data collection and enhancing system design.

Sam Altman’s iris biometric crypto initiative, Worldcoin, is facing regulatory scrutiny globally, particularly in Europe, over concerns regarding data privacy. Despite these challenges, Worldcoin has garnered support from the crypto community and now from Ethereum co-founder Vitalik Buterin, who previously raised concerns about the project’s identity system.

In a recent post on X dated March 29, Vitalik Buterin commended Worldcoin for addressing privacy criticisms by making efforts to enhance its system to minimize data collection. He responded to discussions surrounding Worldcoin’s recent hurdles in Portugal, per the Crypto News Flash report.

Buterin expressed his belief that Worldcoin has shown dedication to improving its system design in response to privacy concerns. He also praised the progress made in modern cryptography. Notably, Worldcoin has introduced Personal Custody features, offering users more control and privacy options over their data. The Ethereum co-founder said:

“IMO they actually have been doing quite a good job of taking the privacy critiques seriously and designing their system to be more and more data-minimal. Modern cryptography is truly amazing”.

Last year in July 2023, Vitalik Buterin voiced his concerns regarding Worldcoin’s biometric identity verification system, reported Crypto News Flash. He asserted that Worldcoin’s personality-proof mechanism raised significant issues regarding privacy and security, highlighting the necessity for ongoing development to enhance the system.

Buterin noted that while addressing privacy concerns through system redesigns might require considerable time, several aspects such as the inadequate design of the WLD coin, privacy and security apprehensions related to the Orb, and certain business decisions made by the company should be carefully considered.

Vitalik Buterin Criticizes Meme Coin

While Buterin seemed to share some good opinions about Worldcoin, he didn’t seem to have a similar opinion for meme coins.

In a notable departure from the norm, Ethereum co-founder Vitalik Buterin recently made a compelling statement on X, expressing deep reservations about meme coins. His post, shared amidst a frenzy surrounding meme tokens like DOGE, SHIB, and WIF in the crypto market, garnered widespread attention.

Contrary to the prevailing market sentiment, Vitalik’s post outlined various reasons why meme coins are viewed unfavorably despite their popularity. This sparked discussions questioning the narrative of using coins as a means to fund significant public initiatives, as suggested by Vitalik.

Furthermore, Vitalik shed light on the potential advantages of Charity coins and Robin Hood games over meme coins, suggesting they could offer similar gratification while serving more constructive purposes. Specifically, he emphasized Robin Hood’s potential to provide play-to-earn features akin to Axie Infinity, potentially aiding financially disadvantaged users.