Worldcoin, the controversial cryptocurrency project aiming to distinguish humans from AI, has taken another step in its European expansion. The foundation announced on Wednesday the launch of its iris-scanning orbs in the Austrian capital, Vienna. This move brings the project closer to its goal of verifying millions of individuals worldwide and distributing its native token, WLD.
The expansion into Austria follows a similar deployment in neighboring Germany, marking a significant stride for Worldcoin in the continent. However, the project has faced considerable regulatory challenges. Spain recently extended a ban on Worldcoin until the end of the year, while Portugal imposed a temporary halt on biometric data collection. Concerns over data privacy have prompted scrutiny from multiple government agencies.
Despite these hurdles, the Worldcoin Foundation remains optimistic. It cited a survey indicating that a majority of users in Spain and Portugal believe the project can positively impact digital interactions. In response to privacy concerns, the foundation has implemented measures such as allowing users to delete their biometric data and preventing underage sign-ups.
Also Read: Worldcoin (WLD) Price Up 6.13% After Hitting 3-Month Low: Can Bulls Charge WLD To $3?
A critical component of Worldcoin’s ecosystem is its upcoming Layer 2 network, World Chain. Designed to scale the project and improve transaction speeds, World Chain is expected to launch later this summer. Developers can already test the network, and the foundation anticipates a migration of Worldcoin users from its current base on OP Mainnet.
While Worldcoin’s expansion into Austria is a notable development, the project’s future hinges on its ability to navigate regulatory challenges and reassure users about data privacy. As the cryptocurrency market remains volatile, the performance of WLD, currently trading at $2.22, will also be a key indicator of the project’s overall success.
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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