French privacy watchdog raises concerns over Worldcoin’s data collection; collaborates with Germany for investigation.

French privacy watchdog raises concerns over Worldcoin's data collection; collaborates with Germany for investigation.

The Blockchain Industry: Facing Legal Concerns and Mixed Reactions

The blockchain industry continues to evolve rapidly, with numerous projects aiming to revolutionize various aspects of our lives. One such project, Worldcoin, has recently garnered attention for its ambitious plan to create a “digital passport” called “World ID” by scanning the irises of millions of people worldwide. However, this project has faced legal concerns and mixed reactions within the crypto community.

Legal Concerns Surrounding Worldcoin’s Data Collection Methods

European regulators, including the French National Commission on Informatics and Liberty (CNIL) and the Bavarian state authority in Germany, have raised legal concerns about Worldcoin’s data collection methods. CNIL expressed doubts about the legality of this collection and the conditions for storing biometric data. The aim of Worldcoin’s project is to provide individuals with a means to verify their humanity and distinguish themselves from robots as artificial intelligence becomes more influential. However, the collection of sensitive biometric data has raised concerns surrounding data privacy, security, and data collection processes.

Challenges Faced by Worldcoin Despite Sign-Up Numbers

Worldcoin claims to have amassed a significant number of sign-ups during its trial period, amounting to 2.1 million users. The company’s website indicates that a unique human verifies a World ID every 7.6 seconds, leading to daily records. However, the actual sign-up numbers have not been as promising. Only about 200 people signed up on the first day at each of the three designated locations in Hong Kong, totaling just 600. Co-founder Sam Altman shared a video showing people in Japan lining up to provide their iris scans, but the slow adoption rate suggests challenges in attracting new sign-ups. Despite this, Worldcoin plans to increase the number of orbs in significant cities throughout the year to enhance its sign-up capacity.

Mixed Reactions and Attention from Regulators

Worldcoin’s project has sparked mixed reactions within the crypto community. Some users express concerns about the centralization of the project, while others view the proof-of-personhood as a necessary measure to address the growing presence of AI. Regulators are also taking notice of Worldcoin’s controversial project. The British Information Commissioner’s Office is investigating the project, recognizing the need for organizations to conduct a Data Protection Impact Assessment for collecting “high-risk” information. Ethereum co-founder Vitalik Buterin has also raised alarms, citing concerns about the potential exposure of sensitive personal information such as sex, ethnicity, and medical conditions through iris scans.

• Arbitrum DAO’s Grants Programs Formed
• XRP Ledger’s L2 Smart Contract Development Reaches Milestone
• Shiba Memu presale exceeds $1.2 million in a month, price prediction.

To address these concerns, Worldcoin asserts its compliance with data protection laws, including the GDPR and the UK Data Protection Act. The company has committed to cooperating with governing bodies and conducting a comprehensive Data Protection Impact Assessment in the UK with the assistance of a top-tier law firm. Additionally, Worldcoin has assured users that they will promptly address individual requests for deleting personal data.

Overall, the blockchain industry continues to face legal challenges and mixed reactions as it explores innovative solutions to various problems. While Worldcoin’s ambitious project aims to provide individuals with a secure “digital passport,” legal concerns and privacy issues surrounding their data collection methods need to be addressed to ensure trust and widespread adoption. As the industry progresses, collaboration between regulators, projects, and users will be crucial in shaping the future of blockchain technology.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!