Worldcoin(WLD), a project offering a “proof-of-humanness” system through iris scans, is facing an uphill battle with regulators despite claiming strong user backing in Spain.
This week, Worldcoin announced a suspension of services in Spain until year-end, joining a growing list of countries like Hong Kong, Kenya, and Portugal that have restricted its iris-scanning technology.
The project has been under scrutiny globally for data collection practices. In March, the Spanish Data Protection Agency (AEPD) ordered a halt to Worldcoin’s operations citing concerns about data gathering and potential user privacy violations. The AEPD received complaints, including allegations of collecting data from minors and lacking proper consent mechanisms.
Despite the shutdown, Worldcoin claims widespread user support in Spain. A recent survey of over 21,000 users reportedly showed nearly 90% want the service back, with a significant portion acknowledging the importance of technology like Worldcoin’s World ID in identifying real people online.
“We are encouraged by the overwhelming support from our Spanish user base,” said Thomas Scott, Chief Legal Officer for Tools for Humanity, the entity developing Worldcoin. “This survey suggests a strong understanding of the need for tools to combat online bots.”
Worldcoin aims to address the growing challenge of bots impersonating humans online. Their iris-scanning technology offers a unique biometric identifier to verify a user’s “humanness.” Interestingly, Worldcoin co-founder Sam Altman also leads OpenAI, a company at the forefront of artificial intelligence development – the very technology making bot detection more crucial.
However, user support hasn’t translated to smooth sailing with regulators worldwide. Portugal, for instance, ordered a halt to iris scans due to a lack of transparency around data usage.
Also Read: Worldcoin (WLD) Stumbles: Can Bulls Break Through Resistance or Face Further Downturn?
While Worldcoin enjoys reported user support in Spain, a global regulatory green light remains elusive. The project’s future hinges on resolving data privacy concerns and navigating a complex regulatory landscape.
The price of Worldcoin’s WLD token also reflects this uncertainty. Despite a brief rally, WLD currently trades at $4.94, down slightly.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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