By Nermeen Nabil Khear 
WorldCoin has hit a major milestone. It claims to have verified 10 million users on its network. This success led to the project’s multiplication.
It awakened the interest of the supervisory authorities, who think it might violate privacy and data protection rights. Now, let’s examine what makes WorldCoin unique and the challenges it is facing.
What is WorldCoin?
WorldCoin is an identity management solution. It guarantees a user’s identity based on the biometric details that they supply, which they capture through a network of orbs. The aim is to get the ‘proof of personhood,’ which shows that the entity operating the account is a human and not an AI program.
According to this company, when AI becomes widespread, society will need a reliable method to identify individuals and control private data and its use.
10 million verified humans on World Network.
Thank you
pic.twitter.com/wQPWxsnERm
— World (@worldcoin) January 10, 2025
The World team said, “As AI progresses, it will be our responsibility to work and build on AI and accept that demonstrating our capability and intent will be essential in creating the new symbiosis between man and machine as co-creators.”
Regulatory Scrutiny and Bans
Despite its rapid growth, WorldCoin has faced challenges from regulators around the world. Kenya, Spain, Portugal, and Hong Kong have sounded alarms about invasion of privacy and abuse of biometric information, with South Korea not far behind. WorldCoin is inactive in Kenya due to security issues. Spain and Portugal have halted its usage for proof of violation of data protection laws.
PORTUGAL TO SAM ALTMAN’S WORLDCOIN: STOP SCANNING EYEBALLS FOR CRYPTO
Portugal’s data regulator (CNPD) has ordered Sam Altman’s iris-scanning project, Worldcoin, to halt biometric data collection for 90 days.
The CNPD flagged major privacy concerns, including data… pic.twitter.com/mKjZXShcnj
— Mario Nawfal (@MarioNawfal) January 12, 2025
The last hit was in South Korea due to an alleged violation of personal data protection rights, for which WorldCoin received a fine of $829,000. The scrutiny is a gentle reminder that with great benefits comes unique consequences, such as privacy and ethical issues.
Conclusion
With WorldCoin getting to 10 million users, new sustainability challenges arise. It is advancing with its goals of providing a reliable digital identity solution in a world that is becoming augmented by AI. However, it faces rising legal risks across various countries where the business operates, for example.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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