The UK data regulator, the Information Commissioner Office (ICO), has announced its intention to conduct further inquiries into the OpenAI crypto project, Worldcoin.

According to a report by Reuters, the ICO stated that it will examine Worldcoin, a crypto initiative designed to create a reliable method of distinguishing between humans and AI online. The project offers users the opportunity to scan their eyeballs in exchange for a digital identification called World ID and free cryptocurrency.

A spokesperson for the ICO confirmed, We have taken note of the launch of WorldCoin in the U.K. and will be making further inquiries. The ICO emphasized the need for organizations to have a clear lawful basis for processing personal data and that any reliance on consent must be freely given and revocable without negative consequences.

Worldcoin, backed by CEO Sam Altman, describes itself as a digital passport to verify human identity. It includes a privacy-focused digital identity (World ID) and, where permitted by law, a digital currency (WLD) provided simply for being human.

After the launch, the native token WLD saw a substantial price surge to $3.58, raising concerns among crypto traders and advocates. The token launch involved issuing 143 million WLD, with 100 million allocated to market makers and the rest distributed to investors who verified their identity by scanning their eyeballs during Worldcoin prelaunch phase.

During its initial trial, Worldcoin garnered two million user sign-ups and has plans to expand its operations, including iris scanning for identification, to 20 countries.

A Worldcoin spokesperson assured that the project is continuously assessing local laws and regulations to ensure compliance. They also claimed that the Worldcoin Foundation is fully compliant with all laws and regulations related to biometric data collection and transfer, including Europe General Data Protection Regulation (GDPR).

The ICO decision to investigate the Worldcoin project comes amid increasing concerns about data privacy related to eyeball scans. Speculators worldwide have raised questions about data storage, security measures, and the protection of users privacy rights.

As regulators around the world pay closer attention to these issues, the ICO announcement is a significant step in understanding the potential implications of Worldcoin operation.

#HotTopicDiscussion #GateioBountyCreator #ContentStar #GateioLive #GateioTurns10 #NewsMessenger #BountyCreator #CryptoObserves