Worldcoin Halts Orb-Verification Service in India, Brazil, and France
Worldcoin, the crypto project co-created by OpenAI CEO Sam Altman, has reportedly stopped its Orb-verification service in India, Brazil, and France. The service was launched just a few months ago in these countries. According to Worldcoin developer Tools For Humanity, the service was expanded to multiple markets for a limited time. Worldcoin uses Orb devices to scan people’s irises and provide them with a “World ID” as an incentive to sign up for the protocol.
Popularity and Regulatory Hurdles
Worldcoin gained popularity through its multi-city tour, attracting thousands of people to sign up and collect tokens. Currently, almost five million people have a World ID, with over 2.5 million having verified their humanness using the Orb. However, regulatory challenges have arisen in various countries. In August, the project was suspended in Kenya due to concerns about potential risks. Similar issues may have influenced the recent decision to halt the service in India, Brazil, and France.
Commitment to Regulatory Compliance
Despite these hurdles, Worldcoin remains committed to working with partners globally to ensure compliance with regulatory requirements and provide a safe and transparent service for verified humans. The company aims to meet regulatory standards while offering a secure experience.
World ID 2.0 and WLD Sales
Last week, Worldcoin announced integrations with popular platforms like Telegram, Reddit, Minecraft, Shopify, and Mercado Libre as part of its “World ID 2.0” upgrade. This update aims to differentiate between bots and verified humans online while preserving privacy through pre-built integrations with popular apps and services.
Mexico and Singapore will soon join the list of countries where people can find Orbs to register for the service. Currently, the devices are available in 12 countries, including the U.S., Germany, Spain, and South Korea.
Potential WLD Token Sale
Tools For Humanity, the developer behind Worldcoin, is reportedly in talks with multiple investors to raise up to $50 million through a discounted sale of WLD tokens. The potential price per token is $1, which would be a significant discount compared to the current spot price. However, no final terms have been agreed upon.
The startup has not yet responded to requests for comment on this matter.
Hot Take: Worldcoin Faces Regulatory Challenges but Continues to Innovate
Worldcoin’s decision to halt its Orb-verification service in India, Brazil, and France demonstrates the regulatory challenges faced by identity-focused crypto projects. Despite these setbacks, Worldcoin remains committed to meeting regulatory requirements and providing a safe and transparent service for verified humans. The recent “World ID 2.0” upgrade showcases their dedication to innovation and privacy preservation. Additionally, Tools For Humanity’s potential discounted token sale could provide new opportunities for investors interested in supporting Worldcoin’s mission. As the project navigates regulatory landscapes and expands its reach globally, it will be interesting to see how it evolves and overcomes future challenges.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats.