- Worldcoin, a crypto project using eye-scanning technology, is under investigation in France for its biometric data collection methods.
- Despite the investigation, Worldcoin Foundation maintains that its protocol meets regulatory requirements and is designed to protect individual privacy.
- Worldcoin, co-founded by Open AI’s Sam Altman, has signed up over two million users since its launch and uses zero-knowledge proofs to preserve user privacy.
Worldcoin, a revolutionary cryptocurrency project that employs eye-scanning technology, is reportedly under scrutiny by France’s privacy watchdog, the CNIL, Reuters reports. This investigation comes shortly after the project’s launch, which has already attracted over two million users. The probe centers around the legality of Worldcoin’s biometric data collection, specifically its use of iris-scanning orbs.
Worldcoin, the brainchild of Open AI’s Sam Altman, has been flagged by CNIL due to concerns over the conditions for storing biometric data. The watchdog has labeled the legality of Worldcoin’s data collection as “questionable”. Despite this, the Worldcoin Foundation remains confident, stating via email that its protocol is designed to safeguard individual privacy and complies with current regulatory standards.
Worldcoin’s user base is growing rapidly, with a new person being verified every eight seconds. The protocol uses zero-knowledge proofs (ZKPs), a cryptographic method that allows users to prove specific data is true without revealing the data itself. This ensures user privacy and prevents cross-application tracking.
Earlier this week, Worldcoin faced similar scrutiny from a UK watchdog. Despite these challenges, Worldcoin continues to trade actively, with its current price at $2.18.
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