Thu, September 19, 2024 at 17:35

• 

  Joy

  • Hey Annie!

  • Have you heard about Worldcoin's new feature called Face Auth?

  • It's a facial recognition system for identity authentication.😮

  • 
• Annie

  • Oh, really?

  • Sounds interesting.

  • How does it work exactly?🤔

  
• 

  Joy

  • So, it uses facial recognition technology to verify a user's identity within the World App.

  • Basically, it does a 1:1 comparison to make sure the person is who they claim to be.📱

• Annie

  • I see.

  • What kind of applications will this be used for?😊

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • It'll be used for online payments, financial transactions, and secure logins.

  • Only those who have authenticated their World ID through WorldCoin's iris scanning device can access the app.💳

• Annie

  • Wow, that sounds pretty secure.

  • But isn't facial recognition technology controversial?😕

  
• 

  Joy

  • Yeah, it definitely raises privacy concerns.

  • 

  • Critics argue that it compounds data protection issues, especially when it comes to the collection and storage of biometric information.😬

• Annie

  • That makes sense.

  • Are there any measures in place to protect this sensitive data?🛡️

  
• 

  Joy

  • WorldCoin has introduced an SMPC system designed to protect sensitive data.

  • But the addition of facial recognition has still raised concerns about data management and protection.🔒

• Annie

  • Hmm, I see.

  • Are they planning to make the technology more transparent?🌐

  
• 

  Joy

  • Yes, they plan to open source the technology later to increase transparency.

  • But critics say this could pose additional risks if not managed properly.😕

• Annie

  • That's a double-edged sword, isn't it?

  • How many users does WorldCoin have now?📊

  
• 

  Joy

  • WorldCoin has surpassed 6.6 million global users and their expansion is accelerating.🚀

• Annie

  • Wow, that's a lot!

  • So, do you think this news is good or bad for the market?📉📈

  
• 

  Joy

  • Honestly, I think it's more of a bad news.

  • The privacy concerns and potential risks with biometric data management could outweigh the benefits, at least for now.😟

  • To sum up, this article is considered a 😱Bearish for investors!!