Worldcoin announced that it is testing facial recognition technology for its World App. The popular project will initially try the new feature in certain locations. With these developments, the altcoin price is showing an upward movement.
Popular altcoin project will test facial recognition technology!
Proof-of-Humanity project Worldcoin (WLD) has announced that it will be rolling out facial recognition technology for World App users. According to the project, the new feature will perform “a special 1:1 facial comparison that only allows people who have verified their World ID on a globe to access the World App.” This measure is designed to increase the security of people using the app’s functions, such as online purchasing, financial transactions, and secure logins. The World App digital wallet has around 15 million users worldwide. The organization says that around 6.7 million people have officially verified their “identity” via Worldcoin’s iris-scanning globes. Worldcoin allocates WLD tokens to users who scan their irises to prove their identity. The main developer behind the project, Tools For Humanity, is led by OpenAI CEO Sam Altman. Worldcoin plans to pilot facial recognition via the World App in select locations initially.
Altcoin price performance
In light of these developments, the WLD price continues to move upwards. Thanks to the positive market sentiment, the altcoin has seen double-digit gains. At the time of writing, WLD was trading at $1.62, up over 11% on the day. Furthermore, the token’s trading volume has also increased by a remarkable 55%, reflecting the interest in the token from investors and traders.
Worldcoin’s new efforts serve a broader strategy to boost the altcoin project’s image among government regulators. Worldcoin has recently attracted attention with launches in Poland, Austria, and Malaysia. However, the project has come under scrutiny in some jurisdictions, such as Colombia, where last month the country’s regulator accused Worldcoin of violating privacy laws.
Meanwhile, Worldcoin, which faced a temporary ban in Spain earlier this year, stopped storing and encrypting people’s biometric data after the ban. Various measures were taken to provide users with more “peace of mind.” The altcoin project maintains that it always prioritizes personal privacy. It also states that biometric data is only used to verify that a person is human during the World-ID creation process. However, the distribution of crypto tokens in return for people scanning their pupils has worried government agencies, especially in Europe, where data privacy is sensitive.
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