Worldcoin Sets Record for Single-Day Sign-Ups in Argentina
Worldcoin, a cryptocurrency project co-founded by Sam Altman, achieved a new milestone by signing up 9,500 people in Argentina in just one day. This translates to approximately one verified individual every 9 seconds. Despite ongoing investigations into the project’s data handling practices by authorities and data protection agencies, Argentina has proven to be a leading country for blockchain innovation and crypto adoption.
Main Key Points:
- Worldcoin achieved a record-breaking single-day sign-up of 9,500 individuals in Argentina.
- Argentina is recognized for its blockchain innovation and crypto adoption.
- Worldcoin’s unique approach to online identity verification using iris scans has garnered attention.
- The project is under scrutiny for its data handling practices.
- Global regulatory bodies, including those in France, the UK, Germany, and Kenya, have raised concerns and initiated investigations.
Worldcoin’s Data Privacy Investigations
Argentina’s authorities are currently investigating Worldcoin’s data handling practices, focusing on the collection, storage, and utilization of personal data. The Public Information Access Agency has stated its intention to thoroughly analyze the processes involved and take necessary measures to ensure compliance with security and privacy standards.
Global Scrutiny Beyond Argentina’s Borders
Worldcoin’s activities have also come under scrutiny in France, the UK, Germany, and Kenya. Privacy regulators and government agencies have raised questions about the legality of Worldcoin’s collection of biometric data. In Kenya, the interior ministry has suspended local Worldcoin activities to assess potential risks to public safety. The cryptocurrency project has been directed to cease additional processing of biometric data until a legal case is resolved.
Hot Take:
Despite the growing popularity of Worldcoin, its native token, WLD, has not reflected this in price gains. The cryptocurrency is currently valued at $1.2, experiencing a decline of more than 48% in the past month. Worldcoin’s ability to attract a large number of sign-ups in Argentina demonstrates the demand for its unique approach to online identity verification. However, the ongoing investigations and regulatory concerns highlight the importance of addressing data privacy issues and complying with security standards.
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