- Argentina joins the list of countries that are currently investigating the Worldcoin Project. Apparently, this project is raising concerns among many countries, including Argentina.
- According to Argentina’s Agency for Access to Public Information (AAIP), citizens of the country should know what Worldcoin is using their data to do. Hence, the project is under investigation for compliance.
Worldcoin is a crypto project that is very popular due to their out of the box concept. Crypto projects usually ensure their users’ identity through the KYC (know your customer) process. Apparently, this particular crypto project is trying this out but with another technology. Furthermore, this project wants to use the Worldcoin orb technology to get users’ identities. But it brings them to their current trouble. AAIP announced ongoing investigations against Worldcoin. Apparently, the reason behind the investigations is around the technology the crypto project is using.
Argentina Launches Investigations Against Worldcoin
Investigations started against Worldcoin due to the type of technology they wield. This crypto project says they want to connect the world together by creating a digital economy. Moreover, in this digital economy, everyone around the world will have access to financial freedom. But there’s a two-way process for this crypto project.
They also want to be a blockchain where the verification of human identity happens. To achieve this ambitious aim, this crypto project intends to use a new technology different from what we have seen. For instance, If you use crypto exchanges for the first time, you must complete your KYC. Your KYC will help verify your identity by scanning your face or fingerprint. However, Worldcoin is taking it to a new level by adding a technology they call Orb. With this Orb, they will scan a user’s iris before verifying them.
This is something AAIP is against. They want this crypto project to explain what they intend to do with the data they collect from citizens.
Argentina Wants More Clarity on User’s Safety
For many countries investigating Worldcoin, such as England, France, And Kenya, their biggest concern is the effect of the Orb on citizens. The same thing applies to Argentina, as they want clarity on what this crypto project plans to do with users’ data.
Furthermore, Argentina wants to know if this project complies with the regulatory rules and regulations. Hence, they are launching investigations to find out. If Argentina finds out this crypto project is breaking regulatory rules, they may ban it from the country. The same thing happened in Kenya, where police officers had to remove the Orb technology to determine its content.
“Citizens have the right, whenever personal data is provided, to have clear and accessible information in relation to the assignment, use and purpose for which the data is collected and processed, especially with regard to sensitive data, such as biometric data,” AAIP said.
Conclusion
Worldcoin seems to have a unique vision for the crypto industry, but many countries are not collaborating with them. In fact, countries like France, England, and Kenya have ongoing investigations against the project. Now, Argentina launched its own investigations to know if this project complied with their rules.
