Weekly global World ID verifications increase by over 100% after Worldcoin’s launch
According to Worldcoin’s official blog, the launch of Worldcoin out of beta resulted in a significant increase in demand for the identity protocol. The rate of World ID verifications had already doubled once in 2023, and last week’s growth demonstrates a sustained increase in global demand for World ID. Alongside this increase, there was a three-fold increase in weekly active World App users and a more-than-ten-fold increase in weekly account creations.
Worldcoin faces criticism and scrutiny
Since its launch, Worldcoin has faced criticism and scrutiny. Some crypto veterans have expressed discontent about the release of its token, with the majority of the circulating supply going to market makers. Concerns have also been raised about the decentralization of Worldcoin’s iris-scanning orbs, as well as the potential security risks they pose. Additionally, the project has drawn the attention of state regulators, with activities being suspended in Kenya until associated risks can be assessed. Regulators in Germany, France, and the UK are also investigating the protocol’s handling of sensitive biometric data.
Hot Take
The launch of Worldcoin has generated significant demand for the identity protocol, as seen through the increase in World ID verifications. However, the project has faced criticism and regulatory scrutiny, highlighting potential concerns surrounding its token release and handling of biometric data. This suggests that while there is demand for such solutions, there are important considerations to address in order to ensure privacy, security, and fair distribution.
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