[ad_1]
WorldCoin, the iris-scanning and cryptocurrency network led by Sam Altman, was this week banned by data protection regulator AEPD in Spain for up to three months. Due to regulatory concerns, cryptocurrency tokens are not available in the United States.
Worldcoin was launched in 2023 and operates differently from other cryptocurrencies in that it requires no upfront investment. Instead, Worldcoin offers cryptographic tokens in exchange for an eye scan with a custom scanner called an orb. The scan then establishes humanity and uniqueness, creating a digital passport the company calls World ID.
“Through World ID, WorldCoin can play an important role in proving humanity in an online world dominated by increasingly sophisticated artificial intelligence,” the company said in a blog post.
According to another Worldcoin blog post, “proof of identity” through eye scans is a way to differentiate humans from AIs and bots.
According to a 2022 MIT Technology Review study, more than 4 million users have already signed up for WorldCoin, with some initial sign-ups taking place in developing countries, and participants receiving cash and prizes. They were encouraged to provide biometric data in exchange for.
As reported by TIME, WorldCoin continued to encourage registration last year by offering 25 units of WLD cryptocurrency (worth about $179 today) to those who agreed to have their iris scanned with the orb.
Related: An OpenAI rival has developed a model that appears to have “metacognition” that has never been publicly disclosed.
Orb.Credit: World Coin
On Wednesday, AEPD Director Mar España Martí announced that Spain had taken the “precautionary” step of temporarily blocking WorldCoin due to concerns about WorldCoin’s collection of biometric data.
“All we have done is sound the alarm in Europe,” she said, “but this is an issue that…affects citizens of every country in the European Union.”
A WorldCoin representative told Entrepreneur that “WorldCoin is fully compliant with all laws and regulations governing biometric data collection and data transfer, including the European General Data Protection Regulation (“GDPR”). “There is,” he continued, saying:
“That is why we have been in consistent and ongoing dialogue with BayLDA, the EU’s main data privacy authority, for many months now. “We are disappointed in the avoidance and have little recourse but to file a lawsuit,” the suit said. “
The company took legal action against the order on Friday and suspended its services in Spain.
Countries around the world have scrutinized WorldCoin over privacy concerns, with Kenya first suspending WorldCoin in August. According to a Worldcoin representative, users in the United States will be able to create a World ID, but will not have access to Worldcoin’s cryptographic tokens. Her World ID locations in the US where users can find Her Orb and scan her eyes include sites in New York and Los Angeles.
The Orb eye scanner took Worldcoin three years of R&D to develop and will be improved this year to look “more friendly,” Worldcoin CEO Alex Blania told TechCrunch. .
Worldcoin tells users on its website that it does not share or sell personal data and that their biometric information is secure. Okta became the first major company to incorporate Worldcoin into its services, allowing users to sign in with their Worldcoin over the phone or via Orb.
Related: 5 things that will shape the crypto industry in 2023
[ad_2]
Source link
