AI Summary
According to Cointelegraph, Brazil's National Data Protection Authority (ANPD) ordered Tools for Humanity (TFH), the company behind the biometric technology of the World ID project, to stop offering cryptocurrencies or financial incentives to collect biometric data from Brazilian citizens. This directive, effective from January 25, comes after an investigation initiated in November following the launch of the World ID project in Brazil.
The ANPD's compliance division concluded that providing cryptocurrencies as compensation could undermine the validity of user consent when collecting sensitive biometric data. World Network, co-founded in 2019 by OpenAI's CEO Sam Altman, uses iris biometrics developed by Tools for Humanity, based in San Francisco and Berlin, to create a universal digital identity and a financial network through iris scanning technology.
Brazilian law stipulates that consent for the processing of sensitive personal data must be given freely, be informed, unequivocal, and specifically for the designated purposes. The ANPD expressed its concern about the possibility that financial incentives could unduly influence individuals' decision-making, particularly those in vulnerable situations. Furthermore, the authority highlighted the sensitive nature of biometric data, the irreversible nature of its collection, and the impossibility of deleting such data once collected.
In a related development, the German data protection authority, BayLDA, issued corrective measures in December for the digital identity project, requiring World Network to comply with the EU General Data Protection Regulation regarding the handling of biometric data.
World Network's native token, WLF, has experienced a drop of more than 8% in the last 24 hours, falling below $2. Since its launch in July 2023, the token has decreased by 83% from its all-time high of $11.74 in March, according to CoinGecko.#WorldCoin. $WLD