The first major issue with this currency is privacy leakage.
The second major issue is the lack of a closed-loop business model.
The third major issue is unlimited unlocking.
On the eve of the Lunar New Year, the Hong Kong Office of the Privacy Commissioner for Personal Data launched an investigation into Worldcoin for allegedly collecting customer iris data in violation of regulations. The office searched six locations of 'Worldcoin' in Hong Kong, including Yau Ma Tei, Kwun Tong, Wan Chai, Cyberport, Central, and Causeway Bay, based on a court order.
The Hong Kong Privacy Commissioner urges citizens to be vigilant and not to casually provide biometric personal information. Worldcoin claims to use blockchain technology to build a globally applicable personal identification system and a globally usable cryptocurrency. According to intelligence, participants in the project need to scan their iris information through iris scanning devices set up at different locations, register their identity, and obtain virtual currency for free. The Hong Kong Privacy Commissioner stated that iris information is a form of biometric identification data, is unique and unchangeable, and can be considered sensitive personal data. Once leaked, it can have severe consequences. The Hong Kong Privacy Commissioner specifically pointed out that it is currently paying attention to the operations of 'Worldcoin' in Hong Kong, which involves serious personal data privacy risks, and believes that the relevant agencies collecting and processing sensitive personal data may involve violations of privacy regulations.
