News
The digital identification project faces regulatory headwinds in the form of bans and legal scrutiny in several countries.
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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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Worldcoin’s Orb Mini device was met with mockery across Crypto Twitter, as critics questioned its ethics and usefulness.
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Indonesia’s Digital Ministry is seeking public input to its probe into World’s local operators, alleging suspicious activity and registration violations.
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The OpenAI CEO's eyeball scanning crypto project is going live in six US cities and has also partnered with credit card giant Visa to offer a card.
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World, formerly known as Worldcoin, is a digital ID project that uses iris scans to create a digital identity.
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The company’s Circom technology has been tested by Deutsche Bank and HSBC, among others.
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With the advent of Web3, decentralized identity solutions (DIDs) are considered key for securing users’ digital footprint.
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World Network, the iris-scanning digital ID project formerly known as Worldcoin, can no longer offer crypto incentives to Brazilians.
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In contrast to World’s iris scanning, Humanity’s palm scans are more user-friendly and maintain a high level of security, according to Humanity’s founder.
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Although World has reached a significant milestone, regulatory headwinds across jurisdictions remain a challenge for the project.
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German regulators demand compliance changes from World ID after a biometric data investigation.
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World’s seemingly playful jab at Spotify comes as the firm faces scrutiny.
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Explore World Network, World ID and how Orb protects personal data with secure biometric verification.
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Institutional demand is driving a significant increase in onchain loans across DeFi protocols.
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World, formerly Worldcoin, says its World Chain will privilege verified human users over bots by giving them priority access to block space and an allowance of free gas.
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