Why was Sam Altman's Worldcoin banned in Spain?
$WLD Spain recently banned Worldcoin, the cryptocurrency company owned by Sam Altman, insisting that the project cease its unique method of collecting personal data via an eye scanning device nicknamed “the orb.”
This action by AEPD, Spain's data protection watchdog, constitutes a decisive step against Worldcoin's operations in the country.
The regulator's ultimatum demanded a complete halt to data collection and use of data already collected. Worldcoin, created by Altman alongside Max Novendstern and Alex Blania in 2019, ventured into the mining industry. crypto with a proposal to offer its tokens in exchange for users allowing their eyes to be scanned by the orb.
This initiative aimed to create a foolproof system for differentiating humans from machines, especially as AI continues to blur these lines. However, the project's approach to collecting personal data has sparked controversy in various countries.
What led to this includes Worldcoin's attempt to navigate the regulatory environment of the cryptocurrency industry. By forgoing the launch of its tokens in the United States due to strict regulatory oversight, Worldcoin also found itself locked out of major markets like China and India.
Additionally, regulators in Kenya have already shut down the project and the UK Information Commissioner's Office has signaled its intention to investigate Worldcoin's practices.
#btc #crypto #histoire #Alert #Help