- Uncertainty and a precipitous decline in WLD prices were also caused by the announcement.
- Worldwide Coin’s iris verification program was the center of attention.
Another roadblock has emerged on the issue of “breaching privacy” for Sam Altman’s Worldcoin. The project has been directed by Spain’s data protection authority, the AEPD, to cease collecting personal data in the country and to cease using the data it has already gathered, according to Financial Times. Uncertainty and a precipitous decline in WLD prices were also caused by the announcement.
Participants in the program scan their iris images in return for digital IDs and a free cryptocurrency. These claims, however, based on worries about data collecting and privacy, are not new.
Ongoing Regulatory Scrutiny
An earlier inquiry into Worldcoin was launched by the PIPC of South Korea in response to complaints over the collection and use of personal data, particularly that pertaining to iris and facial scans. Specifically, the panel was worried about potential breaches of the Personal Information Protection Act.
The Hong Kong Privacy Commissioner’s Office (PCPD) has also launched an inquiry along these lines. At six Worldcoin locations in Hong Kong, the PCPD investigated potential privacy risks. “Involves serious personal data privacy risks,” the translated statement from the privacy regulator said about Worldcoin.
One thing has been consistent across all of the inquiries into Worldcoin. Globally, the iris verification program was the center of attention. One kind of biometric data that is considered very private is iris scan results. Personal information that is biometrically recorded is often considered sensitive due to its uniqueness, immutability, and distinctness.
Worldcoin is already under regulatory investigation for using the same iris biometric. As a result of this regulatory concern, it withdrew its Orb-verification service from the French, Brazilian, and Indian markets.
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