Worldcoin founder Sam Altman said his crypto project is facing huge operational challenges. This is what he’s talking about told at the Token 2049 Summit in Singapore.
An important task of Worldcoin is to introduce identification technology to the masses and overcome the psychological barrier of users. Some still refuse to undergo retinal scan verification. However, Altman is optimistic in this regard.
Worldcoin continues to communicate with regulators
During the same summit, Worldcoin co-founder Alex Blania noted that communicating with regulators and policymakers around the world has become a core part of his work since launching the project.
He added that the project is gradually gaining momentum and expanding, while simultaneously communicating with a large number of regulators. However, Blania also reiterated that Worldcoin does not save data after the iris scan is completed.
Privacy issues
Probably one of the reasons for the frequent communication of Worldcoin representatives with regulators is concerns about the confidentiality of user data. Thus, the German regulator began proceedings against the American startup in November 2022. The project’s activities also attracted the interest of the British Information Commissioner’s Office.
And the Ministry of Internal Affairs of Kenya completely suspended the work of the project in the country. A few days later, officers, supported by interagency officials, went to Worldcoin’s offices with a search warrant. The reason was the fact that Tools for Humanity, the parent company of Worldcoin, did not disclose its true intentions during registration.
Source: Cryptocurrency
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