- The French privacy agency, CNIL, is currently investigating the cryptocurrency project, Worldcoin (WLD).
- Worldcoin, a project led by OpenAI’s CEO Sam Altman, has recently launched its cryptocurrency, WLD.
- The Worldcoin project aims to create a new network for ID and finance, where consumers can obtain a ‘World ID’ by scanning their iris with a device called ‘Orb’.
Worldcoin, a high-profile cryptocurrency project, is under investigation by the French privacy agency, CNIL. The project, led by OpenAI’s CEO Sam Altman, recently launched its cryptocurrency, WLD, and aims to create a new network for ID and finance.
Worldcoin Under Investigation by French Privacy Agency
Worldcoin, a cryptocurrency project led by Sam Altman, CEO of OpenAI, is currently under investigation by the French privacy agency, CNIL. The agency has raised concerns about the legality of the project’s data collection mechanism, which uses biometric identification. The investigation has also revealed that the project is under the supervision of authorities in Bavaria, Germany, who are also conducting their own investigation with support from CNIL.
Worldcoin’s High-Profile Project
Worldcoin is a high-profile project that has attracted significant attention. The project was launched over three years ago with the goal of creating a new network for ID and finance. Consumers can obtain a ‘World ID’ by scanning their iris with a device called ‘Orb’. Altman recently reported that there are queues around the world for registration on Orb. The project team insists that they have built a system that can protect privacy and comply with regulations.
day 3 of @worldcoin launch, crazy lines around the world. one person getting verified every 8 seconds now. pic.twitter.com/vHRu1sWMT3
— Sam Altman (@sama) July 26, 2023
Worldcoin’s Cryptocurrency Launch
Worldcoin recently launched its cryptocurrency, WLD, which is now listed on exchanges such as Binance. The project began its official ID verification in Germany last month, and the core product of the project has been designed and developed in the country over the past three years. This week, it was also reported that the UK’s Information Commissioner’s Office (ICO) is investigating the project. The ICO stated that Worldcoin needs to assess the impact it will have on data protection before it starts handling ‘high-risk’ data, which is a critical element of its business.
Conclusion
In conclusion, Worldcoin is a high-profile cryptocurrency project that is currently under investigation by privacy agencies in France and the UK. Despite these investigations, the project has launched its cryptocurrency, WLD, and continues to attract significant attention. The project’s goal of creating a new network for ID and finance, where consumers can obtain a ‘World ID’ by scanning their iris with a device called ‘Orb’, is a unique approach in the cryptocurrency market.
