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WorldCoin is an iris scanning and cryptocurrency network led by Sam Altman. Banned will be unavailable in Spain this week for up to three months due to data protection regulator AEPD in the united states. Due to regulatory concerns.
World Coin has been released 2023 It works differently than other cryptocurrencies because it does not require advance 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 your humanity in an online world dominated by increasingly sophisticated artificial intelligence,” the company wrote. in a blog post.
according to another World Coin Blog Post“Proof of identity” through eye scanning is a way to distinguish humans from AI and bots.
According to the 2022 MIT Technology Review, more than 4 million users have already signed up for WorldCoin, with some initial sign-ups taking place in developing countries, and participants can redeem cash and prizes. They were reportedly encouraged to provide biometric data. investigation.
according to time According to the report, WorldCoin continued to encourage registration last year by offering 25 units of the virtual currency WLD (worth about $179). today) to those who have consented to having their iris scanned. Orb.
Related: An OpenAI rival has developed a model that appears to have “metacognition” that has never been publicly disclosed.
Orb.Credit: World Coin
AEPD Director Mar España Martí announced on Wednesday that the Spanish government had taken “precautionary” measures due to concerns about the company’s collection of biometric data.
“What we have done is to sound the alarm in Europe,” she said. Said“But this is an issue that…affects nationals of all countries of the European Union.”
WorldCoin responded to the ban by saying AEPD was “circumventing EU law” and “spreading inaccurate and misleading claims about our technology,” according to the report. Reuters. On Friday, the company It has been submitted A legal challenge to this order resulted in the temporary suspension of services in Spain.
Worldcoin has decided not to launch a cryptocurrency/World ID project in the United States due to the following reasons: Regulatory uncertainty Around crypto. Countries around the world have scrutinized WorldCoin over privacy concerns, with Kenya being the first to suspend it. August.
The Orb Eye Scanner was three years in the making by WorldCoin and will be improved this year to make it look “more friendly,” WorldCoin CEO Alex Branier said. Said Tech Crunch.
World Coin tells users on the website We guarantee that we do not share or sell your personal data and that your biometric information is secure. Octa became the first major company to incorporate Worldcoin into its services, allowing users to sign in with Worldcoin via phone or orb.
Related: 5 things that will shape the crypto industry in 2023
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