News
Worldcoin introduces World Chain, a new blockchain initiative designed to prioritize human users, enhance efficiency and foster real-world utility in Web3 applications.
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Worldcoin News
Worldcoin is a cryptocurrency project that aims to provide global access to financial services through biometric identification. It was launched by Sam Altman, CEO of OpenAI; Alex Blania; and Max Novendstern in 2020.
The core idea involves scanning an individual’s iris using a specialized tool known as the Orb. By generating a distinct digital identity through this scan, duplicate registrations are avoided, and everyone gets a fair share of the Worldcoin (WLD) distribution, offering privacy-preserving technology that puts ownership directly in the hands of users worldwide.
Worldcoin faces significant criticism for its potential privacy violations, surveillance risks, and the ethical and logistical complexities of its global ambitions. Despite the criticism, Worldcoin shows how blockchain technology can address financial inclusion challenges for underbanked populations. Its emphasis on fair distribution and outreach to underserved populations has ignited significant discussions about how technology may promote economic opportunity.
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OpenAI CEO Sam Altman’s identity coin startup Worldcoin’s World App now has more daily users in April than its entire monthly user count to start 2024.
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Sam Altman’s Worldcoin is taking measures to improve the protection of user data and ensure that its platform is available only to people over 18.
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Coinbase’s institutional client-facing arm has announced that it will list perpetual futures contracts for Ordinals and Worldcoin as soon as April 11.
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The regulator ordered that Worldcoin cease collecting data from users in the country for 90 days, citing a high risk to citizens’ data protection rights.
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Worldcoin said it has now made components of the software behind its iris-scanning Orbs open-sourced, along with a new “personal custody” privacy feature for user data.
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A Kenyan government minister said the country has encountered pressure from the U.S. government to lift its suspension on Worldcoin’s activities.
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Worldcoin operates “lawfully in all of the locations in which it is available” and is designed to fully comply with related laws, the firm said.
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A third-party project audit reportedly claimed that Orb devices do not record users’ iris codes onto persistent memory and only transmit codes through end-to-end encrypted messaging.
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Sam Altman’s company will have to freeze its operations in Spain for the next three months.
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The world’s largest crypto exchange continues to grapple with ongoing legal challenges, particularly in the United States.
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After hitting 1 million daily users on WorldApp, Worldcoin is running into regulatory roadblocks.
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Demand for AI has soared this year, with some experts labeling the adoption of the technology as the Fourth Industrial Revolution.
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According to the PCPD, any personal data — including information from iris scans — controlled by Worldcoin “must be collected for a lawful purpose.”
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According to the verification project, more than five million people — roughly 0.06% of the world’s population — have created Worldcoin accounts.
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