Worldcoin, a project focused on human identity verification by using retinal scans for identity verification, has come under scrutiny from authorities in the United Kingdom, France, and Germany. Concerns have been raised about the project's data collection methods, specifically the collection of iris scans from users.
The Bavarian State Office for Data Protection Supervision (BayLDA) initiated an investigation into Worldcoin due to worries regarding the handling of biometric data. According to a Reuters report from July 31, 2023, BayLDA began its probe in November 2022. The President of BayLDA, Michael Will, expressed concerns about the use of such technologies in transferring financial information, as they were neither established nor thoroughly analyzed, posing potential risks to Worldcoin users.
Apart from BayLDA's inquiries, the French National Commission on Informatics and Liberty also questioned Worldcoin's data collection methods, labeling them as "questionable." Similarly, the Information Commissioner's Office in the United Kingdom raised similar concerns over the project. The company behind Worldcoin, Tools For Humanity, has a subsidiary in Germany but has managed to attract interest from users across various countries.
Since the launch of Worldcoin's token in July, co-founder Sam Altman reported an impressive rate of one person getting verified every 8 seconds through iris scans worldwide. The project has garnered attention from major figures in the cryptocurrency community, including Ethereum co-founder Vitalik Buterin and Block CEO Jack Dorsey, who have discussed potential benefits, such as aiding those affected by the collapses of Three Arrows Capital and FTX.
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