The UK Information Commissioner’s Office will investigate ChatGPT founder Sam Altman’s Worldcoin (WLD) Crypto Project.
List Your Profile Links On CryptosHeadlines.com
“Become a Supporter of CryptosHeadlines.com! Send us your name and social profile links, and we will add your name along with your profile links to the Supporter Page as a proud supporter of CryptosHeadlines.com.
Supporter Page Link
The UK data regulator announced on Tuesday that it will examine the Worldcoin iris biometric project by OpenAI CEO Sam Altman to assess potential risks related to privacy and safety. Worldcoin was launched on Monday, prompting major crypto exchanges to list the WLD token.
However, the token’s price dropped as experts raised concerns about the project and urged the crypto community to refrain from buying WLD.
UK Data Regulator to examine Worldcoin
The UK Information Commissioner’s Office announced on July 25 that it will investigate the Worldcoin project, offering users digital identification and free WLD tokens in exchange for their iris scans.
A spokesperson for the Information Commissioner’s Office informed Reuters that they are aware of the launch of WorldCoin in the UK and will conduct further inquiries.
The spokesperson emphasized the need for organizations to have a clear lawful basis for processing personal data, especially when relying on consent, which should be freely given and withdrawable without detriment.
The Worldcoin project comprises the World ID system, iris-scanner Orb, and the World App wallet. With two million users already registered, the project is expanding its eyeball-scanning operations to 20 countries.
Despite privacy and safety concerns raised by several experts, Worldcoin co-founder Sam Altman believes that making their iris-scanning AI’s code open-source will alleviate these worries. Ethereum creator Vitalik Buterin has also expressed concerns over privacy and security, pointing out issues with the design, privacy, and security aspects of the Orb, as well as some of the company’s business decisions.
WLD Token Price Drops
After being listed on major exchanges like Binance, OKX, and Bybit, the Worldcoin (WLD) token price surged by over 75%. However, the price has since corrected following warnings from crypto experts. Interestingly, Sam Altman stated that Worldcoin has no plans for expansion in the US due to regulatory uncertainties.
The WLD price experienced a 43% drop from its peak of $3.58 and is currently trading at $2.02, with a 24-hour low and high at $1.92 and $2.92, respectively.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News and Threads App
