Crypto Guru Warns About Worldcoin And Its CEO Sam Altman – Details

Prominent cryptocurrency influencer and YouTuber Ben Armstrong, popularly known as BitBoy, has warned against the newly launched controversial project, WorldCoin. In his latest video, BotBoy warned his 1.45 million subscribers about the Worldcoin CEO, Sam Altman, and his eyeball scanning.

According to the influencer, Altman’s World ID biometric verification method raises data privacy and legality concerns. He also noted that several data and privacy regulators are investigating WorldCoin’s operations. 

Worldcoin’s Operations And Personal Data Collection Method Seems Fishy

For context, the project founded by OpenAI founder, Sam Altman, launched in July and quickly rose to popularity. It quickly made headlines because users must submit biometric data through iris scans to receive a World ID. 

However, its questionable method of collecting user data has raised concerns among global data and privacy regulators. But despite these concerns, Worldcoin remains popular among the crypto community. 

As a result, the newly launched crypto network has onboarded over 2.1 million users. According to BitBoy, Altman said Worldcoin receives one new verified user per eight seconds. But while users keep signing up despite concerns about WorldCoin’s operations, some countries like Kenya have banned its operations. 

WLDUSD price chart
WLD’s price currently hovers around $1.58 in the daily chart. | Source: WLDUSD price chart from TradingView.com

Global Watchdogs Questions The Legality Of Project’s Iris Scanning

On August 2, Kenya’s Office of the Data Protection Commissioner ordered Worldcoin’s parent company, Tools for Humanity, to suspend personal data collection. According to reports, the agency ordered the company to stop collecting iris scans and facial recognition data in May. However, the company failed to obey the order. 

A few days later, Kenya’s Office of the Data Protection Commissioner raided Worldcoin’s Nairobi facility. They confiscated documents and equipment related to the company’s iris scanning and data collection.

Also, a superior authority, the Kenyan Ministry of Interior and Administration, suspended the project after its launch as the number of people lining up to scan their eyeballs for free crypto attracted the authorities’ attention.

Kenya is not the only country that expressed concerns and skepticism over the company’s iris scanning. Other privacy watchdogs, including the French Commission Nationale Informatique and Libertés (CNIL), have launched investigations into Worldcoin’s operations.

On July 28, Reuters reported that the CNIL said the legality of Worldcoin’s data collection process is questionable. Similarly, on July 31, the UK’s privacy watchdog, Information Commission Office (ICO), warned about the risk of such personal data collection.

The watchdog said organizations must conduct a Data Protection Impact Assessment (DPIA) before embarking on such data collection exercise. It noted that the crypto project must obtain consent from the ICO before embarking on such.

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In addition, the Argentinian Agency for Access to Public Information (AAIP) announced plans to investigate Worldcoin’s data collection. The agency wants to determine whether the crypto company complies with Aregntina’s personal data collection and protection law.

Featured image from Pixabay and chart from TradingView.com

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