Worldcoin Foundation has made a significant move to enhance data protection by releasing an open-source system that prioritizes the security of sensitive information. This innovative system, available on Github, aims to establish a new standard for data protection, including biometric data. Worldcoin's approach utilizes secure multi-party computation (SMPC), a cutting-edge cryptography method that distributes data securely across multiple parties, providing enhanced protection.

The Worldcoin project, which provides cryptocurrency (WLD tokens) to users who sign up and undergo an eyeball scan for digital identification, has migrated to this new system. As a result, the foundation has deleted previously collected iris codes, demonstrating its commitment to data security. SMPC ensures that data is divided into multiple parts, stored in different locations, and can be thought of as sharing a secret for increased protection.

The Worldcoin Foundation, in collaboration with TACEO and Tools for Humanity, has successfully developed a new SMPC implementation that addresses previous scale and cost constraints. As biometric data becomes increasingly required by various organizations, the need for secure protection of personal data has become more pressing. Worldcoin Foundation's move comes after facing scrutiny from several nations regarding its data collection practices.

The project's main developer, Tools for Humanity, co-founded by OpenAI CEO Sam Altman, has taken steps to address concerns related to data collection and storage.