Eye-scanning crypto projects pose national security risks, China warns

Key Points

1. China's Ministry of State Security (MSS) highlighted risks associated with biometric data collection by crypto firms, citing potential threats to national security.

2. An unnamed overseas company, likely Sam Altman's Worldcoin, collects iris data in exchange for its WLD token and operates in 160 countries, excluding China.

3. Biometric data leaks are irreversible and can be misused, as such 'keys' are nearly impossible to replace once compromised.

4. Vitalik Buterin criticized rigid, single-trackable digital ID systems, advocating instead for pluralistic identity frameworks to avoid exclusion and centralization.

5. The MSS emphasized that while biometric identification offers convenience, it also carries significant risks if not properly managed.