- Kresus has announced a partnership with the developers of Worldcoin.
- The partnership will help Kresus bolster its digital identity options amid the prevalence of bots.
- The partnership comes despite the controversies surrounding the Worldcoin project.
With the growing prevalence of bots and AI deepfakes, the need for verifiable digital identities has become more pressing than ever. Identifying this concern, Kresus, a mobile-first crypto platform focused on providing a secure and easy-to-use portal to all things Web3, has turned to the developers of the Sam Altman-backed Worldcoin for its World ID solution.
Kresus Embraces World ID
On Monday, January 29, Kresus unveiled a partnership with Tools for Humanity (TFH), the creators of the Worldcoin project, to integrate the World ID system into its “SuperApp” to help users create a verifiable digital identity.
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The platform’s integration of the World ID promises to take the platform’s digital identity options to new heights with Proof of Personhood (PoP). The idea behind this concept is to eliminate fake identities like bots by proving that there is a unique human behind each ID.
Worldcoin’s World ID system achieves this goal by employing a biometric verification system that generates unique identifiers from iris scans. With World ID, Kresus users would be able to prove their humanness without having to share personal information.
Commenting on the World ID integration, Kresus CEO Trevor Traina emphasized the importance of PoP to the future of Web3.
"Proof of personhood will become an essential component of the Web3 ecosystem. As such, this collaboration is an excellent enhancement to the work we have already done in supporting Web3 identity," he enthused.
Kresus’ integration of World ID comes despite the controversies and regulatory issues facing the Worldcoin project.
A Project Plagued With Concerns
Despite its potential to do away with bots and the promise to enable universal basic income, Worldcoin faces privacy and ethical concerns as members of the crypto community worry about the security of the user’s biometric data and whether the project is exploiting low-income populations with its promise of crypto rewards in exchange for registration.
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Along with these concerns, the project has also attracted the ire of regulators worldwide, who argue that the project has failed to meet registration requirements. For example, in the UK, a spokesperson for the Information Commissioner’s Office (ICO) previously told DailyCoin that the project had failed to conduct requisite data protection assessments or provide a legal basis for the need to process the data it collects.
On the Flipside
- Kresus has promised more details about its partnership with TFH.
- Despite the concerns surrounding Worldcoin, the project has processed nearly 3.2 million unique individuals per its website.
Why This Matters
Kresus integration of World ID represents a significant step towards using blockchain to solve the problems around identity in the digital age.
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