Worldcoin Foundation open-sourced a secure multi-party computation (SMPC) system to enhance biometric data protection and confirmed that users can now securely delete old iris codes.

Worldcoin beefs up security by open-sourcing biometric data system

As organizations increasingly rely on biometric data for various applications, from access to physical spaces to financial services, the frequency and impact of data breaches continue to escalate.

On May 15, the Worldcoin Foundation, the organization behind the Worldcoin iris biometric cryptocurrency project, announced that it open-sourced its secure multi-party computation (SMPC) system.

The new SMPC system, which is responsible for encrypting iris codes into secret shares held by multiple parties, enables the Worldcoin Foundation to permanently delete iris codes generated through its previous uniqueness-checking system.

Remco Bloemen, the head of protocol at the Worldcoin Foundation, told Cointelegraph that this development, open-sourcing the SMPC system, offers a potential solution for “enhanced biometric data security.”

"With the development and open sourcing of a new secure multi-party computation (SMPC) system, Worldcoin Foundation aims to continue to increase the robustness of the Worldcoin protocol while also setting a new standard for security. "

The Worldcoin Foundation said that its SMPC approach is even more effective against quantum computing.

According to a Fortune Business Insights analysis published on April 29, the market for biometric systems worldwide is expected to increase from $30.77 billion in 2022 to $76.70 billion by 2029.

In the meantime, data breaches increased significantly (20%) between 2022 and 2023, doubling the number of people impacted, according to research by Stuart Madnick of MIT.