Despite an ongoing investigation into data privacy concerns, Worldcoin, co-founded by Sam Altman, has announced an impressive achievement with around 9,500 Argentinians successfully verifying their World ID in a single day.
This surge in Worldcoin sign-ups within Argentina, averaging at a remarkable rate of one verified individual every 9 seconds, led the World App, the project’s inaugural wallet, to briefly claim the coveted top position on Argentina’s App Store rankings.
Central to Worldcoin’s core concept is the streamlined process of online identity verification, driven by the utilization of iris scans.
Presently, the project’s data collection efforts span four major Argentinian cities: Buenos Aires, Mar del Plata, Cordoba, and Mendoza, effectively expanding its influence and accessibility.
The notable influx of sign-ups can be attributed to the project’s attractive incentive structure, offering participants $50-60 worth of cryptocurrency in its proprietary coin.
With a reported valuation of $3 billion, Worldcoin asserts that over 2.2 million individuals worldwide have joined its platform since its soft launch in late 2021.
Worldcoin Undergoes Data Privacy Probe Amidst Concerns
Worldcoin’s Recent Surge in Sign-Ups Amid Ongoing Argentine Authorities’ Investigation into Data Privacy Practices
Amid the ongoing investigation by Argentine authorities into Worldcoin’s data privacy practices, the country’s Public Information Access Agency has committed to a thorough examination of the collection, storage, and utilization of personal data.
Beyond Argentina, Worldcoin’s influence extends to other regions. In Kenya, the project initially achieved significant success, enrolling hundreds of thousands of customers. However, the government intervened and suspended Worldcoin’s operations due to data privacy concerns.
In December 2022, the city of Nairobi, Kenya’s capital, saw over a quarter of a million individuals signing up for Worldcoin.
Although Worldcoin’s goals of enhancing economic access for underserved populations are commendable, the project has encountered criticism over its data collection methods.
The use of iris scans as a secure means of identification has sparked privacy concerns among experts. Skeptics fear that the biometric data gathered could be prone to misuse, potentially resulting in privacy breaches and security vulnerabilities.
