Worldcoin, co-founded by OpenAI CEO Sam Altman, has registered over 2 million people for a World ID. Despite the project's suspension, it maintains a virtual presence in Kenya. However, concerns have been raised about the potential misuse of private iris scan data. The Kenyan Capital Markets Authority has warned that Worldcoin is unregulated in the country and has expressed concerns over the registration process.
Key takeaways:
- A Kenyan parliamentary panel has urged the country's IT regulator to shut down the Worldcoin cryptocurrency project until additional restrictions are established, citing privacy concerns around the scanning of individuals' iris in exchange for a digital ID.
- The panel has also called for a ban on relevant IP addresses and a halt to Worldcoin's virtual platforms, and for Tools for Humanity Corp. and Tools for Humanity GmbH Germany (Worldcoin) to suspend their physical presence in Kenya until a legal framework for virtual assets and service providers is developed.
- Worldcoin, which aims to create the world's largest digital identity and financial network, has registered more than 2 million people for a World ID. However, Kenya's Capital Markets Authority warns that Worldcoin commodities are unregulated and that over-the-counter crypto token fraud is possible.
- Privacy experts have raised concerns about the risk of private iris scan information getting into the wrong hands, and the Office of the Data Protection Commissioner (ODPC) in Kenya has requested that users of Worldcoin exercise increased caution.