Sam Altman’s iris biometric crypto project, Worldcoin, has faced intense scrutiny from regulators and governments worldwide, particularly in Europe, due to data privacy concerns. However, in a surprising turn of events, Worldcoin received a vote of confidence from a major player in the crypto space – Ethereum co-founder Vitalik Buterin.
Buterin Praises Worldcoin’s Shift on Privacy
Despite previously raising concerns about Worldcoin’s identity system, Buterin recently commended the project for its willingness to adapt. In response to a post regarding a recent setback for Worldcoin in Portugal, Buterin acknowledged their efforts to address privacy issues through design changes.
“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,” Buterin stated, highlighting the potential of modern cryptography.
This comes after Buterin expressed reservations about Worldcoin’s privacy and security in July 2023. He pointed to potential shortcomings in the personality-proof system and the Orb hardware component, urging further development.
WLD Price on the Rise Despite Regulatory Hurdles
While facing regulatory pushback in Portugal, Spain, South Korea, Kenya, and other countries, Worldcoin’s native token, WLD, has seen significant price increases. WLD boasts a remarkable 400% gain so far in 2024, with March alone contributing a 10% jump. Notably, the token reached an all-time high of $11.82 on March 10th.
Also Read: Worldcoin (WLD): From $3 to $8 in a Week, Can it Hit $13 by end of 2024? (Plus Predictions to 2050)
Analysts are currently observing a potential breakout from a descending price channel, indicating a possible upswing. Markets moves suggests a bullish flag pattern, hinting at a potential price surge towards $12 after a brief consolidation period. Despite the positive outlook, trading volume has fallen by 40% in the last 24 hours, suggesting some waning short-term interest.
The Road Ahead for Worldcoin
Worldcoin remains in a precarious position. Buterin’s endorsement highlights the project’s responsiveness to privacy concerns, but regulatory hurdles persist. As WLD attempts to capitalize on its recent price momentum and potential AI advancements, it will need to navigate both regulatory scrutiny and investor sentiment to secure its long-term viability.
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