Worldcoin opens WLD token reservations to unverified customers

August 11, 2023 10:28 PM AEST | By Invezz

Worldcoin opens WLD token reservations to unverified customers — Image source: Invezz

Worldcoin facing increased regulatory handles

The Worldcoin project launched its mainnet and native token on July 24 comprising three essential components: the Worldcoin ID, the Worldcoin App, and the Worldcoin token (WLD). Initially, WLD tokens were given to users who agreed to scan their irises using the Orb in order to construct a biometric data-based ID system.

The project claims to provide a global database for people to distinguish them from robots in the future. Its claim is based on the prediction that artificial intelligence (AI) will become so pervasive in the future that it will be difficult to distinguish between actual people and online bots, and that the World ID will replace other ID systems as the standard.

The project had signed up nearly 2 million users before it went public, but the user response has been underwhelming since then. The developers said that the response has been highly encouraging, with long waits, but they withheld the precise number of users who have claimed their WLD tokens.

However, the project is already dealing with a number of regulatory issues and investigations about its operations. The latest handle was in Kenya where the project was put on hold due to the way data was collected. Kenya’s government is particularly worried about Worldcoin obtaining vital identification data, such as iris scans in exchange for a digital ID.

In addition to the suspension in Kenya, Worldcoin is also facing regulation problems in France, Argentina and the UK.

The post Worldcoin opens WLD token reservations to unverified customers appeared first on Invezz.

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