Vitalik Buterin, the co-founder of Ethereum, recently praised Worldcoin for its dedication to tackling privacy concerns and reducing data usage in its system. This recognition comes when Worldcoin is under regulatory scrutiny, especially in Europe, over data privacy issues.
Despite facing these challenges, Buterin applauded Worldcoin’s steps to enhance its system design in response to privacy criticisms, highlighting the importance of such efforts in the crypto space. With regulations making noise, will it hit a new ATH? Let’s find out.
WLD Price To Hit $10, If?
In a recent X post, Vitalik Buterin thinks Worldcoin has listened to his privacy concerns and made changes. He likes how Worldcoin uses modern technology to make the design more effective for users.
One X user, Louis Anslow, joked about using German Orbs for scanning in Portugal in 2021. Vitalik Buterin, in response, praised Worldcoin for its continuous changes in the system to be more efficient with data. His support shows that Worldcoin might fix privacy issues well.
Dealing with Key Hurdles in the Project
However, Worldcoin is facing regulatory issues in Portugal, Spain, South Korea, and Kenya due to its biometric data collection methods, with Spain’s data agency directing the company to stop citizen data collection and retain existing data.
Last year, Vitalik Buterin raised concerns about Worldcoin’s biometric identity verification mechanism, citing potential privacy and security risks. He stresses a dire need to enhance the system’s privacy features to keep it safe. Keeping the progress aside, Buterin cautioned against overlooking design flaws and privacy issues that might impact the coin in the future.
In response to the criticism, Worldcoin has addressed regulators’ concerns by ending centralized data custody. Now, they want users to take control of their data.
Current Market Analysis
Despite regulatory challenges, Worldcoin’s native token, WLD, has witnessed a whopping surge of 400%. In March alone, WLD price experienced a 10% rise, reaching an all-time high of $11.82. While facing a descending price channel, WLD maintains upside momentum, supported by ongoing developments related to artificial intelligence (AI).
Technically the formation of a bullish flag pattern in WLD, suggests a potential minor pullback followed by an aggressive rally toward $12. Despite a 1% increase in the past 24 hours, trading volume has dropped by 40%, reducing trader interest in the short term. However, the positive sentiment surrounding Worldcoin’s technological advancements and Buterin’s endorsement could fuel further price appreciation in the long run.
