Outside Source
The company’s Circom technology has been tested by Deutsche Bank and HSBC, among others.
News
Billions Network has launched a digital identification platform that doesn’t require users to hand over their biometric data, a move the company says preserves privacy and goes against the grain of competing projects like Sam Altman’s World.
According to a Feb. 28 announcement, Billions Network has created a universally accessible verification platform for humans and AI agents that’s based on Circom, its zero-knowledge verification technology. The company claims that its verification system has already been tested by financial institutions Deutsche Bank and HSBC.
More than 9,000 projects, including TikTok and World, have used Circom technology, Billions Network said.
The platform was launched in response to the growing challenge users face in verifying their digital footprints in an age where AI deepfakes, Sybil attacks and scams are on the rise.
Billions Network also launched its platform in response to the growing concern around projects like World, formerly known as Worldcoin. The company’s controversial iris scans have sparked major privacy concerns and raised questions about widescale biometric data collection.
In response to these concerns, Brazil’s data protection watchdog recently put limitations on how World collects its biometric data.
Related: Microsoft is boosting capacity to support OpenAI’s GPT-4-5, GPT-5 models
Digital identity taking newfound importance
Projects like Billions Network and World are gaining traction at a time when bots and AIs are flooding the internet with low-quality content and misinformation — both of which threaten to reduce authentic user engagement.
As Cointelegraph reported, it’s estimated that between 5% and 15% of accounts on social media platform X are bots. At the same time, Facebook purges its platform of millions of fake user accounts every quarter.
Despite all the benefits of AI, the emerging technology is making crypto scams more scalable and profitable.
Source: Chainalysis
A February report by blockchain analytics firm Chainalysis said 2025 could be the worst year for crypto scams due to the growth of generative AI.
“GenAI is amplifying scams, the leading threat to financial institutions, by enabling high-fidelity, low-cost, and highly scalable fraud that exploits human vulnerabilities,” said Chainalysis’ Elad Fouks.
Magazine: Researchers accidentally turn ChatGPT evil, Grok ‘sexy mode’ horror: AI Eye
This article first appeared at Cointelegraph.com News
