- Worldcoin has seen rapid user growth, reaching 4 million registered users in under a year after launching and integrating with major platforms like Reddit and Minecraft.
- Regulators in several countries have launched investigations into Worldcoin’s data collection practices, concerned about privacy violations from iris scanning and international data transfers.
- Despite privacy concerns, Worldcoin’s token price has held up well, rising 246% in the past month thanks to positive market conditions and OpenAI developments. Regulators continue monitoring as Worldcoin expands.
Worldcoin has seen incredible growth in a short period of time. The blockchain-based project allows individuals to validate their identity through iris scanning and receive a World ID credential. According to its website, registered users have reached almost 4 million in less than a year after launch. Over 600,000 accounts were created in the past week alone.
Integrations Boost Adoption
The project has integrated with several prominent online platforms, including Minecraft, Reddit, Telegram, Shopify, and Mercado Libre. These milestones likely contributed to Worldcoin’s impressive adoption rate.
Scrutiny Over Data Collection Practices
However, Worldcoin has faced scrutiny from regulatory bodies over its data handling. Authorities in South Korea, Hong Kong, France, Germany, Britain, and Kenya have taken interest, with some halting user registrations.
On February 29th, South Korea’s Personal Information Commission announced an investigation into potential privacy law violations. The commission will look into how Worldcoin gathers, handles, and transfers sensitive biometric data internationally. Any violation of local regulations could lead to immediate regulatory action.
WLD Price Remains Strong
Despite the privacy concerns, the price of Worldcoin’s WLD token has held up well thanks to positive market conditions and developments at Worldcoin’s sister company OpenAI. WLD is up 246% in the past 30 days, though it has corrected slightly in the past day.
Regulators Continue Monitoring
As Worldcoin expands, more jurisdictions are monitoring its data practices. However, strong growth and integration achievements show the project retains significant momentum. It remains to be seen how increased regulatory scrutiny will impact Worldcoin moving forward.
