Big news from Kenya as #Worldcoin , the identity-centric #crypto project co-created by Sam Altman, gets suspended.
Kenya's Ministry of the Interior voiced concerns over the potential risks this venture may pose to its citizens. The announcement leaves hundreds of thousands of Kenyan customers in limbo.๐
The Impact on Nairobi ๐
This decision is a serious blow for Worldcoin as Nairobi, the capital city of Kenya, has been a pivotal market.
Nairobi contributed over a quarter-million sign-ups in 2022, indicating a significant demand for the project. The suspension thus poses an unprecedented challenge for Worldcoinโs expansion plans. ๐๐ง
The Kenyan government's apprehension stems from Worldcoin's registration process, which involves the collection of eyeball/iris data. Activities of Worldcoin and any similar entities are suspended until relevant public agencies confirm the absence of any risk to the public. ๐๐
Orb Production and the Road Ahead ๐ฎ
Despite the setback, Worldcoin is ramping up production of its retina-scanning orbs, which it bills as a means of online identity verification. Registered users can also claim a portion of the project's #WLD token. ๐๐ฐ
Worldcoin's Global Reach ๐
Worldcoin, chiefly developed by the San Francisco-based startup Tools for Humanity, has garnered over 2 million users globally, predominantly in the Global South. The impact of this suspension on Worldcoin's future growth is yet to be seen. Stay tuned for further updates! ๐ฐ๐