OpenAI CEO Sam Altman's Worldcoin to ‘build infrastructure, allow third parties to use the technology’
Also read: Potential Risks of Signing up for Worldcoin Addressing privacy concerns, Worldcoin's website assures that the project is "completely private," with biometric data either deleted or encrypted upon user preference. Nonetheless, regulators and privacy advocates have raised questions about the data collection and handling processes.
The Bavarian State Office for Data Protection Supervision, with jurisdiction in the European Union, began investigating Worldcoin in November 2022 due to concerns surrounding its large-scale processing of sensitive data. Michael Will, the president of the Bavarian regulator, emphasised the need for robust security measures and transparent explanations to comply with data protection requirements and said that Worldcoin's system should be "safe and stable".
Rainer Rehak, a researcher on AI and society at the Weizenbaum Institute in Berlin, expressed reservations about Worldcoin's technology, deeming it "irresponsible" and questioning its problem-solving capabilities. He added, “The bottom line is it's a big project to create a new consumer base for Web3 and crypto products." Also read: Open AI CEO Sam Altman's Worldcoin rallies on first day; around $145 million worth of token traded Many individuals interviewed at sign-up sites in Britain, India, and Japan cited the allure of receiving 25 free Worldcoin tokens, which the company offers to verified users.
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