The UK Information Commissioner’s Office (ICO) will examine the user verification process of Sam Altman’s Worldcoin project. This is reported by Reuters.
“We have flagged the launch of Worldcoin in the country and will investigate further,” a spokesperson told the publication.”
Worldcoin’s core product, the World ID protocol, is based on zero-disclosure evidence. It is a mobile tool that allows people to authenticate themselves by scanning their retina or phone number.
The launch of Worldcoin raises questions for the regulator about the protection of user data. Under ICO rules, companies are required to carry out robust security checks when processing biometric data. If a firm identifies high risks, it must consult with the Authority.
When operating in the UK, organisations need to have a basis for processing personal data. The process itself requires a mandatory clearly stated user agreement.
“Worldcoin and developer Tools for Humanity adhere to the strictest privacy regulations and requirements in the markets where the product is available. In some jurisdictions, we continue to evaluate local laws and regulations to ensure compliance,” the project stated.”
The company noted that they always ask users’ consent when collecting biometric data.
Recall that on 24 July, Worldcoin announced the official launch and release of the native token WLD. The listing of the new coin has already been supported by crypto exchanges Binance, Bybit and OKX.
Later, Ethereum co-founder Vitalik Buterin spoke about the main risks of Sam Altman’s project. Among them, he singled out security, centralisation and inaccessibility of the technology.