Ramazan Eles 
The Worldcoin price is attempting to recover after a volatile week, with a recent uptick following the introduction of a new data storage solution.
Worldcoin Market Performance
Worldcoin (WLD) has experienced significant fluctuations recently. The token reached an all-time high (ATH) of $11.82 on March 10th before dipping to a weekly low of $7.24. Currently, the price sits at $8.25, reflecting a 3.22% daily increase.
Despite market volatility, the Worldcoin team has implemented changes to the platform in an effort to improve stability.
Worldcoin Price Analysis
While navigating price drops, Worldcoin maintains a relatively strong position. It holds the 81st rank on CoinmarketCap with a market capitalization exceeding $1.28 billion after a 3% surge. Additionally, the trading volume has jumped 35%, reaching $386 million.
Kenya’s persistent ban on Worldcoin, imposed in August 2023 due to privacy concerns, has contributed to recent price declines.
Introducing Worldcoin Personal Custody
Worldcoin operates on the unique principle that only humans can participate. Interestingly, the project’s creator, Sam Altman (CEO of OpenAI, known for ChatGPT and Sora), envisioned a privacy-preserving global identity network called World ID.
Previously, user verification required submitting biometric data. However, a new Personal Custody option allows users to retain biometric data on their mobile devices rather than the network. This is achieved through iris code generation during World ID creation by Orb. Orb verifies biometric information and transmits only a code to the network, safeguarding user privacy.
Orb is solely responsible for data curation, encryption, and authentication. It signs and transmits data packets to user phones, while public key creation also occurs on the mobile device. Orb utilizes these keys to establish the verification process.
Users can choose to delete biometric data upon ID creation or store it securely on their devices. Ultimately, only encrypted data resides on the user’s device, and a public key encrypts the information.
Potential Impact and Conclusion
The introduction of Personal Custody might influence the Kenyan government to reconsider its stance. While the battle between Kenya and Worldcoin continues, the price appears to be recovering after Friday’s 5% drop. The Personal Custody program empowers users to manage their data while upholding the core tenets of World ID.
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