Worldcoin’s Eye-Scanning Crypto Project Under Investigation in France
An investigation has been launched into a crypto project in France shortly after its launch and attracting over two million users.
The project, known as Worldcoin (WLD), is facing scrutiny from France’s privacy watchdog, the CNIL, due to concerns surrounding the legality of its biometric data collection method using iris-scanning orbs.
Notably, Worldcoin was co-founded by Sam Altman from Open AI. CNIL has expressed doubts about the legality of Worldcoin’s data collection practices and the storage conditions for the biometric data.
However, the Worldcoin Foundation has defended its protocol, prioritizing individual privacy and adhering to current regulatory requirements. They claim that a new person is verified approximately every eight seconds, showing a high demand for the platform.
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To protect user privacy, Worldcoin employs zero-knowledge proofs (ZKPs), which are cryptographic techniques to verify data’s authenticity without revealing the actual data itself. This approach prevents cross-application tracking and ensures privacy for users.
In addition to the investigation in France, Worldcoin previously faced inquiries from a UK watchdog for similar concerns.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
