Spain Blocks Worldcoin Project Over Data Privacy Concerns, WLD Token Slides 7%
2024年3月8日 - 6:00AM
NEWSBTC
The cryptocurrency project Worldcoin, spearheaded by Sam Altman,
has faced another setback as Spain takes steps to block the
venture. The Spanish data protection regulator, AEPD, has ordered
Worldcoin to immediately halt the collection of personal
information within the country and cease using the data it has
already gathered. Concerns Over Worldcoin Eyeball-Scanning
Data Collection According to a Financial Times report, the AEPD
expressed concerns about the project’s use of an eyeball-scanning
“orb” to collect customers’ data. The regulator is expected to
announce a “precautionary measure” on Wednesday, and Worldcoin has
been given 72 hours to demonstrate compliance with the order.
Worldcoin, co-founded by Altman in 2019, has offered its
cryptocurrency tokens to individuals worldwide in exchange for
consent to scan their eyes with an orb. The scans serve as a means
of identification, aiming to establish a reliable mechanism to
distinguish between humans and machines as artificial intelligence
advances. However, the Spanish regulator’s action adds to a
series of setbacks faced by Altman and his co-founders, Max
Novendstern and Alex Blania, who have encountered resistance in
various countries. Related Reading: Solana DeFi Landscape Thrives
With Record $11 Billion Trading Volume Last year, Worldcoin faced
opposition from authorities in Kenya, resulting in an order to
cease operations. Additionally, the project refrained from
launching its crypto tokens in the United States due to the
country’s stringent regulations on digital assets. The report
further notes that major global markets such as China and India
have also not made the Worldcoin token available. The UK’s
Information Commissioner’s Office had also expressed intentions to
investigate Worldcoin. Consumer Complaints In Spain While some
jurisdictions have questioned the viability of Worldcoin’s
cryptocurrency token, Spain’s recent action specifically targets
the project’s core objective of establishing a method to verify
customers’ “personhood.” Altman acknowledged the possibility of
Worldcoin existing without its in-house cryptocurrency, as the
start-up faces growing scrutiny. Worldcoin has reportedly
registered approximately 4 million users, and investments totaling
around $250 million have come from venture capital firms such as
Andreessen Horowitz and Khosla Ventures and prominent individuals
like Reid Hoffman and Sam Bankman-Fried. The project gained
media attention and sparked consumer complaints in Spain,
particularly as queues formed at shopping center stands where
Worldcoin offered cryptocurrency in exchange for eye scans. In
January, the data protection watchdog in Spain’s Basque Country,
known as AVPD, warned about the eye-scanning technology used by
Worldcoin in a mall in Bilbao. The AVPD deemed it subject to
biometric data protection rules and called for a risk assessment.
As a result of Spain’s regulatory action, the native token of
Worldcoin, WLD, has experienced a 7% decline within the past 24
hours. WLD Halts 200% Price Surge Worldcoin’s native token,
WLD, has halted its 200% upward trend over the past 30 days as the
focus shifts to Bitcoin (BTC), which recently achieved a new
all-time high (ATH) on Tuesday. Despite the significant uptrend in
the past month, WLD has experienced a 5.8% price correction in the
last seven days. Furthermore, the token’s market capitalization has
slipped below the $1 billion mark and currently stands at $997
million. However, the advancements in artificial intelligence (AI)
technology developed by Sam Altman’s projects hold the potential to
influence the token’s price in the future significantly.
Related Reading: Why Did Bitcoin Price Crash 10% After Reaching
$69,000 All-Time High? Despite being down by 26% from its ATH of
$9.44, the ongoing technological advancements in this field
indicate that the token’s prospects remain promising. Moving
forward, it remains to be seen how the project’s founders will
respond to the regulatory measures taken in Spain and how these
actions will ultimately impact the token’s future price trajectory.
Featured image from Shutterstock, chart from TradingView.com
Worldcoin (COIN:WLDUSD)
過去 株価チャート
から 4 2024 まで 5 2024
Worldcoin (COIN:WLDUSD)
過去 株価チャート
から 5 2023 まで 5 2024