Co-founded by Sam Altman, CEO of OpenAI, Worldcoin crypto is a new digital currency that aims to create a large-scale financial and identity network, open to everyone, regardless of users’ geographic or economic location. Sharing your biometric data in exchange for cryptocurrencies: although the “deal” may seem preposterous, it is in essence the proposition of Worldcoin, this new service requiring authentication by a scan of the iris of the eye.
A crypto like no other
The company, which has claimed more than 2 million irises scanned in more than thirty countries since the launch of its test phase, is determined to increase its number of users at an accelerated pace, by offering new registrants a financial incentive. However, the worldcoin cryptocurrency has fallen over 67% since its launch in late July. The company behind this crypto faces a lot of controversy, especially when it comes to privacy. More and more government agencies have opened investigations into the Worldcoin crypto. Overview.
Crypto situation in France
Just after its launch, the National Commission for Information Technology and Liberties (CNIL) opened an investigation into the Worldcoin crypto, indicating that the collection of biometric data “seemed questionable”.
Worldcoin in Germany
A German data monitoring agency has been investigating Worldcoin since late last year. It highlights concerns about the large-scale processing of sensitive biometric data. Financial regulator Bafin is also investigating crypto, according to German business daily Handelsblatt.
Britain
Britain’s data regulator said in July it would review the digital asset. “We take note of the launch of this new crypto named “ Worldcoin “in the UK and we will do further research,” the Information Commissioner’s Office said.
A complicated situation in Kenya
In August, Kenyan authorities suspended Worldcoin operations in the country. In a press release, the government explained on August 2 that it had launched investigations relating in particular to “ lack of clarity regarding the storage and security of sensitive data ” And “ lack of appropriate supervision » from this immense database.
Crypto situation in Portugal
The Portuguese data regulatory authority, the CNPD, has inspected Worldcoin’s local data collection operations. At the same time, she was in contact with the Bavarian data protection authority in Germany. The CNPD will make the results of its investigation public. on time“.
Bitcoin and Argentina, what about Worldcoin?
In Argentina, where Worldcoin says there is strong interest in the project, data regulator Agencia de Acceso a Informacion Publica (AAIP) said last month it was investigating the crypto over collection, storage and the use of personal data.
In a letter dated August 7, AAIP requested more detailed information from the project. In particular on risk mitigation and on “ legal basis for processing personal data“.
At the time of writing this article, the author held the following position: Denver Dubois – Description: Freelance Writer.
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