Cryptos: Worldcoin also targets governments and companies

The Worldcoin (WLD) cryptocurrency has experienced unexpected popularity in several countries since its launch. The team behind the project obviously does not intend to rest on its laurels. Despite the controversies, she wants to expand as quickly as possible and wants to bet on governments and companies to realize this dream.

Governments and businesses will soon be able to take advantage of Worldcoin’s technology

The goal of Worldcoin, the revolutionary crypto project of Sam Altman is to reduce the risk of fraud and scam thanks to its biometric identification system, but also to democratize the use of cryptocurrencies. According to some sources, even if the project already enjoys remarkable enthusiasm, Worldcoin would like to register many more users. To do this, it plans to allow governments and businesses access to its iris scanning and identity verification technology.

“The idea is that we build this infrastructure and allow other third parties to use the technology,” says Ricardo Macieira, managing director for Europe of Tools For Humanity, the company behind the Worldcoin project. He clarified that the use of the digital identity system could pay off for companies, which would like to implement localized systems without collecting personal data from their customers.

An expansion despite the many criticisms

Worldcoin’s ambition to expand its operations to governments and corporations, comes in a somewhat unfavorable context. Indeed, the project has come under fire from some users and its data collection methods are under scrutiny from some regulators.

The Information Commissioner’s Office (ICO), which is the UK body responsible for regulating and protecting personal data, said it would carry out investigations into the project. In Germany, Worldcoin is also under scrutiny from regulators who suspect privacy issues. In Kenya, the authorities have been rather intransigent in banning Worldcoin from operating in the country.

Worldcoin is also raising regulatory concerns in France where regulators doubt its data collection methods. The project, which plans to expand in order to register many more users, will therefore have to solve its regulatory problems to increase its chances of seeing its dream come true.