China Warns of National Security Risks from Iris Biometric Crypto Projects

The Chinese Ministry of State Security has issued a warning stating that cryptocurrency projects involving iris biometric data collection pose a threat to national security. While the agency did not name a specific company, the description likely pertains to World, formerly known as Worldcoin. The project behind World involves Tools for Humanity, a company co-founded by Sam Altman of OpenAI, the creators of ChatGPT. The project aims to develop a worldwide biometric identifier called World ID, intended for online personal verification. Operators in various countries scan individuals' irises with an Orb device, which records iris data as a code. Participants receive a small amount of WLD tokens in exchange. The Chinese authorities expressed concern over foreign companies issuing crypto tokens as a means to scan and collect biometric data, warning that the transfer of this data could jeopardize personal privacy and national security. They also pointed out the risk of espionage, where foreign spies might steal and forge biometric information to access sensitive areas or steal secrets, indicating a serious security concern associated with such biometric crypto projects.