News

Kenya to Suspend Sam Altman’s Worldcoin

The Kenyan government is concerned about Worldcoin, the cryptocurrency of OpenAI founder Sam Altman.

Kenya to Suspend Sam Altman’s Worldcoin

The Ministry of Internal Affairs of this African country on Wednesday, August 2, published a press release containing information that the process of using Worldcoin in Kenya was suspended due to a government investigation.

Interior Minister Kithure Kindiki, in a press release on the department’s Facebook page, said that the country’s leadership is concerned about the ongoing activities of the organization, which calls itself Worldcoin and registers citizens in its functional system by collecting identification by scanning the eyeball.

The currency of the head of OpenAI was presented at the end of July. Initially, it announced its intention to collect biometric data of citizens using Orb. The need for this action was explained by the procedural importance of identity verification before issuing tokens.

The media reports that Kenya has become the first country to suspend the use of Worldcoin. But this is not the first country to express concern and initiate proceedings in this regard. The Information Commissioner’s Office (ICO) of the UK has stated that it will approve the launch of the cryptocurrency only after conducting an additional investigation.

In response to the statement of the British regulator, Worldcoin said its commitment to comply with all laws on data processing in the markets of its presence. The company also noted that the token has been designed to protect privacy since its creation.

The firm said the project implemented a privacy-focused design and developed a robust privacy program. Previously, the probability of external impact on data protection and the mechanism for timely response to individual requests for the deletion of personal information were carefully assessed.

The basis of the Worldcoin mission is cryptography and artificial intelligence. These two technologies diverge in the space of public and commercial opinion. Artificial intelligence is currently writing the history of successful development, and cryptography is perceived by many as something uncertain in terms of real benefits.

In the USA, the new cryptocurrency has not been launched. In this country, the official position initially indicated that there is no certainty about the token. Against this background, Sam Altman made a statement that 95% of the world’s population does not live in the United States, which is why the USA does not create or destroy such projects.

As we have reported earlier, Worldcoin Wallet App Surpasses 1M Downloads.

Serhii Mikhailov

2257 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.