Growing concerns over privacy lead to global bans on Worldcoin

Privacy advocates and regulators are expressing concern over the increasing adoption of Worldcoin, an AI-centric identification project with its own cryptocurrency. The project claims that over 5 million people have already participated in scanning their irises using a silver sphere the size of a bowling ball. Users who undergo online ID verification are rewarded with 25 WLD, worth about $115. Worldcoin’s goal, according to founder Sam Altman, is to create a global financial and identity network based on proof of personhood. However, the project has faced backlash from privacy advocates, including Edward Snowden, and lukewarm support from the crypto community. Regulators in several countries have also begun banning the project due to concerns over the collection of biometric data. The safety of biometric data is a major concern for privacy advocates, as it is difficult to change or obscure. Regulators in India, South Korea, Kenya, Germany, Brazil, Spain, and Hong Kong have all taken action against Worldcoin. The project has responded to regulatory pressure by offering more transparency and security, including open-sourcing its Orb software and implementing features like “Personal Custody” and the ability to delete old iris codes. However, it will need to address regulators’ and users’ concerns to prove that its product is safe and guarantees privacy.