I am absolutely baffled how this project wasn't instantly shut down the moment it was announced.
Aside from the fact there's no evidence any form of service will be provided, the whole thing seems like a giant breach of data waiting to happen. Nothing about this is ethical, nor a good idea.
Same goes for all of these crypto driven projects, they all follow the same pyramid scheme scam formula where the only one actually benefitting from it all is the creator of the project. Yet they all publish these buzzword filled whitepapers stating how they're going to change the world.
When it comes to potentially sensitive information (which is especially true for any identifying information), the first rule of security is that everything is need-to-know only. You don't need my biometric information in order to legally identify me, therefore you are not collecting my data.
Honestly, this is probably a better solution than you might have guessed. Especially when it comes to fake inflation price hikes.
Companies have this way of shit-testing the economy to see what you're willing to pay. If there isn't a significant reduction in turnover rates, then say hello to the new prices!
Prime example being NVIDIA with their bogus GPU pricing. Turns out that their shit still sells at $2000 a GPU, and people seem way to quick to accept this as the new reality.
If we all agreed that $2000 GPUs, $3000 laptops and $1500 phones are bullshit, those price points wouldn't exist. Unfortunately we live in a world where normies are more interested in fancy features and the general public is incapable of estimating specs based on their needs. Which leaves all of us being played for absolute fools by companies manipulating the supply chain.