Worldcoin Under Investigation: Argentina Probes Crypto Project’s Data Use

• Argentina’s data privacy government agency is investigating Worldcoin (WLD) over how it collects, stores and uses personal data.
• France’s privacy watchdog, the CNIL, and the UK’s data regulator, the Information Commissioner’s Office (ICO), are also looking into the project.
• Worldcoin utilizes iris scanners to verify users’ identities and deploys 1,500 of its iris-scanning orbs to 35 cities worldwide this summer and fall.

Argentina Investigating Crypto Project Worldcoin (WLD)

The Agency of Access to Public Information (AAIP) in Argentina is investigating how the Worldcoin Foundation collects, stores and uses personal data in Argentina. This follows similar investigations by France’s privacy watchdog, the CNIL, and the UK’s data regulator, the Information Commissioner’s Office (ICO).

Worldcoin’s Use of Iris Scanners

Worldcoin utilizes iris scanners to verify users’ identities. According to their website , they aim to provide “privacy-preserving” IDs through a digital WLD token that is received by users “simply for being human”.

Deployment Plans for Orbs

The project plans on deploying 1,500 of its iris-scanning orbs to 35 cities worldwide this summer and fall in order to meet global demand for ID.

Price Action of WLD Token

The WLD token was first launched last month and currently ranks 156th in terms of market cap at $1.69 per token at time of writing. It has seen a 7% decrease in value over the past 24 hours.

Conclusion

In light of recent investigations from authorities in multiple countries around the world, it remains unclear what impact these probes will have on WorldCoin’s future development or prospects as an investment asset class moving forward.