Worldcoin faces investigation over data collection and exploitation concerns in Kenya
Kenya's Office of the Data Protection Commissioner (ODPC) had instructed Worldcoin, the crypto startup founded by Sam Altman's parent company Tools for Humanity, to stop collecting facial recognition and other personal data in May due to concerns about privacy intrusion and lack of consent. The ODPC has filed a petition with the High Court to preserve the data collected by Worldcoin while investigations into security, privacy, and legality are ongoing. <br>
The number of WLD tokens currently claimed has reached 16,120,716
DuneAnalytics data, the number of claimed Worldcoin WLD tokens has reached 16,120,716, with 519,616 claiming addresses, and the average profit per WLD token claimant is currently $55.95.
Worldcoin: Global PoP Solutions Like World ID Can Unlock a New Generation of Products and Services
Worldcoin officials announced that they are building the world's largest human identity and financial network with the support of the global developer community. Using World ID, developers can prevent robot programs in a powerful way and allow users to show their verified personality proof. World ID and other global PoP solutions can unlock a new generation of products and services, including:
Worldcoin Allows Unverified Users To Reserve WLD Tokens, Which Can Be Redeemed Within One Year After Verification
August 11th, Worldcoin announced the launch of a reservation function. Even if users have not verified their World ID, they can immediately start reserving WLD tokens. They only need to visit Orb within the next 12 months to exchange them.
Worldcoin: World ID open source is free for developers to use, has integrated pip, Talent, auth0
On August 10th, Worldcoin tweeted that the current protocols integrating World ID include Web3 payment product pip, Web3 social and economic platform Talent Protocol, and identity verification and authorization platform auth0. Worldcoin stated that its World ID is open-source, license-free, and available for developers worldwide to use for free.
Argentine Data Protection Agency Announces It Is Investigating Worldcoin Project
August 10th, the Argentine data protection agency (AAIP) announced that it is investigating Worldcoin's handling of personal data, and will carefully analyze the collection, storage, and use of personal sensitive data such as biometrics related processes and practices.
In addition, appropriate measures will be taken to address any issues found and ensure that the company complies with security and privacy standards.
Analyst Predicts Deep Correction for Sam Altman’s Worldcoin, Updates Outlook on Solana and Two Other Altcoins
Altcoin Sherpa, a well-known analyst, has expressed bearish sentiments towards Worldcoin (WLD), the AI-based crypto project co-created by ChatGPT founder Sam Altman. The analyst predicts that WLD is likely to experience a 40% devaluation from its current price after losing the 0.618 Fibonacci level. Altcoin Sherpa also shared his thoughts on Solana (SOL), Maker (MKR), and Rollbit Coin (RLB), stating that SOL is currently in an area of interest, MKR is his favorite setup, and RLB looks primed for a rally up to its immediate resistance at $0.126.
Worldcoin Mobile App Faces Technical Difficulties as User Base Surges
The Worldcoin mobile app, created by Sam Altman, experienced technical difficulties due to high traffic as the number of unique users approaches 2.2 million. The project uses iris-scanning technology for identity verification and has faced regulatory scrutiny over privacy concerns. The app is currently under maintenance, according to World App's support team. The project has also faced pushback in Kenya, where it was the most downloaded mobile app last week. Despite introducing a unique World ID that allows users to verify their identity without sharing personal information, the German data watchdog is investigating the Worldcoin crypto project, which has been the subject of critical analysis by Forbes.
Police Raid on Worldcoin Warehouse in Nairobi Leads to Seizure of Machines Suspected of Storing User Data
Kenyan police have raided a warehouse belonging to Worldcoin, a controversial cryptocurrency project, and seized machines suspected of storing user data. The raid was conducted with a search warrant at the project's offices on Mombasa Road. The Office of the Data Protection Commissioner accused Worldcoin's parent company, Tools for Humanity, of failing to disclose its true intentions. Last week, Worldcoin was suspended in Kenya due to regulatory concerns regarding the security and storage of sensitive data, inadequate information on cybersecurity safeguards, and the handling of citizen data by private actors without an appropriate framework.
Worldcoin's Global ID Verifications Double Despite Regulatory Troubles
Despite facing regulatory scrutiny in multiple countries, Worldcoin reported a doubling in demand for its global World ID verifications during the first week of its launch. The release of new Orbs worldwide contributed to this increase in verifications, and the designated wallet for the project, World App, saw a three-fold increase in active users and a ten-time increase in weekly account creations. However, the WLD token's value dropped 11% in the last seven days and the project has faced criticism for its reliance on biometric data to verify identities. Worldcoin claims to comply with local laws regarding personal data collection in all operating markets.
