France’s data privacy regulatory agency is currently investigating the Worldcoin (WLD) project, known for its controversial use of iris-scanning biometrics.

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As of July 28, the Commission Nationale de I’informatique et des Libertés (CNIL), an agency in France safeguarding data privacy, has initiated an investigation into Worldcoin.

The French regulator expressed apprehensions about Worldcoin’s data collection approach, stating that the legality of this collection appears dubious, as well as the conditions for storing biometric data.

This investigation comes in response to concerns surrounding the controversial use of iris-scanning biometrics by the Worldcoin (WLD) project.

The CNIL revealed that it is collaborating with German authorities in the investigation, and the UK’s data regulator also plans to conduct “further investigations” concerning the Worldcoin project.

Since its launch on July 24, Worldcoin, co-founded by OpenAI CEO Sam Altman, has received mixed reviews, with some praising the initiative and others offering criticism.

Ethereum co-founder Vitalik Buterin, who previously shared his opinion on Worldcoin, highlighted four main risks associated with the project’s proof-of-personhood (PoP) system: privacy, security, centralization, and accessibility.

Although Worldcoin garnered over two million pre-sign-ups, interest appears to have dwindled. However, Sam Altman asserted that there have been long lines of people eager to use the iris-scanning technology, with one user being verified every eight seconds.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#NFT #Web3 #Blockchain #WORLDCOIN #WLD $WLD

Worldcoin’s token gains over 250,000 holders in just two days since launch. Optimism’s Layer-2 blockchain surpasses Arbitrum in daily transactions after six months, per Dune Analytics.

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Optimism outperforms Arbitrum in daily transactions on July 25, with 844,290 transactions versus Arbitrum’s 630,534. The surge is driven by the launch of Worldcoin (WLD), the AI-powered cryptocurrency by Sam Altman, built on the Optimism blockchain.

Worldcoin, despite facing considerable scrutiny at its launch, has gathered over 250,000 holders. The project distributed tokens through an airdrop, rewarding users who had their eyes scanned at specific locations worldwide.

Optimism’s native token (OP) has surged by 4.5% in the last 24 hours, showing resilience against the anticipated sell pressure resulting from a token unlock scheduled for this Sunday.

Optimism’s daily active wallets totaled 51,062, while Arbitrum surpassed it with 63,893 wallets, despite handling more on-chain transactions.

Velodrome, the decentralized exchange (DEX), has seen a 39% increase in Total Value Locked (TVL) to $258 million in the past month, contributing to the activity on Optimism.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#NFT #Web3 #Blockchain #WORLDCOIN #Arbitrum $WLD

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Kenyan authorities are cautious about allowing the Worldcoin project to gather iris data to ensure the security of citizens is not compromised.

The new cryptocurrency and digital identity project, Worldcoin, encountered a difficult start in Kenya, as the government suspended all local activities associated with it.

Minister’s Announcement: Kenya’s Minister of Internal Security, Kithure Kindiki, used Facebook on August 2 to announce the suspension of Worldcoin’s activities. The decision was taken until relevant public agencies could certify the absence of risks to Kenyan citizens.

The authorities have initiated inquiries and investigations involving relevant security, financial services, and data protection agencies. These efforts aim to establish the authenticity and legality of the activities linked to Worldcoin.

The Minister of Internal Security emphasized that the Kenyan government’s primary concern lies in Worldcoin’s collection of vital identification information, such as iris scans, in exchange for a digital ID.

Warning to Parties Involved: The statement issued on Facebook warned that “appropriate action” will be taken against any individual or entity involved in furthering, aiding, abetting, or being connected with the activities described above. This suggests that the government is prepared to take decisive measures to address the situation.

The Worldcoin project, co-founded by Sam Altman, CEO of OpenAI, officially launched on July 24, 2023, following three years of development.

Worldcoin aims to address the challenge of distinguishing humans from online bots as AI technology advances. To achieve this, the startup introduced a digital ID system based on “proof-of-personhood.” This system involves scanning an individual’s iris to create a unique digital ID called the World ID.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Web3 #Blockchain #Kenya #WORLDCOIN $WLD

In the dynamic realm of digital currencies, WLD has emerged as a beacon of innovation, offering a fresh perspective on the possibilities of blockchain technology. As we delve into the world of WLD, we discover a host of features that distinguish it from its counterparts and contribute to its rising prominence in the cryptocurrency space.Decentralization and Security:At the core of WLD's architecture lies the principle of decentralization, leveraging a robust blockchain to ensure transparency and security. By operating on a distributed ledger, WLD minimizes the risk of single points of failure, enhancing the resilience of the network against malicious attacks and unauthorized alterations. This commitment to decentralization aligns with the foundational ethos of many cryptocurrencies, providing users with greater control over their assets.Innovative Consensus Mechanism:WLD stands out with its implementation of a unique consensus mechanism designed to address scalability and energy efficiency challenges. This mechanism not only ensures the integrity of transactions but also positions WLD as an environmentally sustainable alternative in the cryptocurrency landscape. The platform's commitment to reducing its ecological footprint aligns with the growing awareness of the environmental impact of blockchain technologies.Utility Beyond Transactions:While WLD serves as a medium of exchange, its utility extends far beyond simple transactions. The platform supports smart contracts, self-executing agreements with the potential to revolutionize various industries. From decentralized applications (DApps) to supply chain management, WLD opens the door to a myriad of real-world applications, contributing to the broader adoption of blockchain technology.Community-Driven Governance:WLD distinguishes itself through its emphasis on community-driven governance. Token holders actively participate in decision-making processes, proposing and voting on protocol changes. This democratic approach not only fosters a sense of community ownership but also ensures that the platform evolves in response to the diverse needs and perspectives of its user base.Challenges and Growth Opportunities:Like any innovative technology, WLD faces its share of challenges, including regulatory uncertainties and scalability concerns. However, these challenges present opportunities for growth and refinement. The resilience of the WLD community and its commitment to overcoming obstacles contribute to the ongoing evolution of the platform.In conclusion, WLD represents a compelling addition to the ever-expanding landscape of digital assets. With its focus on decentralization, innovative consensus mechanisms, and community governance, WLD is poised to influence the trajectory of blockchain technology. As the cryptocurrency space continues to evolve, WLD stands as a testament to the potential of decentralized and sustainable solutions in reshaping the future of finance.Unveiling the Potential of WLDCOIN: A Cryptocurrency Set to Redefine the Digital EconomyIn the fast-paced world of cryptocurrencies, WLDCOIN has emerged as a promising player, bringing a unique set of features and values to the digital asset landscape. As we explore the distinctive characteristics of WLDCOIN, it becomes evident that it has the potential to redefine how we perceive and engage with digital currencies.Decentralization and Security:At the heart of WLDCOIN is its commitment to decentralization, operating on a blockchain that ensures transparency, security, and trust. The decentralized nature of WLDCOIN mitigates the risks associated with centralization, providing users with greater control over their financial assets. Through the use of advanced cryptographic techniques, WLDCOIN secures transactions, making it resistant to fraudulent activities.Innovative Blockchain Technology:WLDCOIN leverages innovative blockchain technology to facilitate efficient and secure transactions. The underlying blockchain is designed to handle a high volume of transactions while maintaining the integrity and immutability of the ledger. This scalability positions WLDCOIN as a practical solution for everyday transactions, as well as more complex applications within the digital economy.Eco-Friendly Approach:In response to growing environmental concerns associated with blockchain technology, WLDCOIN takes a conscientious approach to energy consumption. The platform employs eco-friendly consensus mechanisms, minimizing its carbon footprint. This commitment to sustainability aligns with a global movement towards environmentally responsible blockchain solutions.Real-World Applicability:Beyond its role as a medium of exchange, WLDCOIN demonstrates versatility in its applications. The platform supports smart contracts, enabling automated and trustless execution of agreements. This feature opens the door to a range of use cases, including decentralized finance (DeFi), supply chain management, and tokenization of real-world assets. WLDCOIN's adaptability positions it as a robust and multifunctional player in the digital economy.Community Engagement and Governance:WLDCOIN places a strong emphasis on community engagement and governance. Token holders actively participate in decision-making processes, allowing for a decentralized and democratic evolution of the platform. This inclusive approach fosters a sense of community ownership and ensures that the platform adapts to the evolving needs of its user base.Challenges and Opportunities:While WLDCOIN holds great promise, it also faces challenges typical of emerging technologies, including regulatory uncertainties and the need for broader adoption. However, these challenges present opportunities for growth and improvement, and WLDCOIN's commitment to overcoming obstacles is evident in its proactive approach to innovation and community collaboration.In conclusion, WLDCOIN emerges as a cryptocurrency with a distinctive blend of decentralization, innovation, and community-driven values. As the digital economy continues to evolve, WLDCOIN stands poised to play a significant role in shaping the future of finance and decentralized applications.#WLD #WORLDCOIN #WLDCOIN #Binance