Analysis Crypto by Thebittimes.Com

South Korean authorities are set to probe Sam Altman’s Worldcoin following complaints about the unorthodox methods the iris-scanning firm uses to collect its data. According to South Korea ’s Personal Information Protection Commission, its investigation, which began on February 29, will establish if Worldcoin has breached the Personal Information Protection Act. The authority said “if violations are confirmed ,” it will “take action in accordance with relevant laws and regulations.” The press release, translated via Google, said the South Korea Worldcoin investigation will look into “the overall collection and processing of sensitive information and overseas transfer of personal information.” It also noted that Worldcoin and ‘affiliates’ are reportedly collecting facial and iris data in 10 locations across South Korea .  Worldcoin’s orb revamp hopes to be less Black Mirror, more Apple Read more: Worldcoin can damage economy and amplify fraud, Kenya MPs hear ...

Hong Kong has launched an investigation into the identity verification project Worldcoin, highlighting potential severe risks to personal data privacy . On Jan. 31, Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) announced that it had conducted raids on six premises associated with Worldcoin in Hong Kong, seeking documents and information related to its operations. The probe centers on Worldcoin’s use of iris-scanning technology, which the commission fears may contravene the personal data ( privacy ) ordinance’s stipulations on handling sensitive personal data. Worldcoin’s method involves orbs that scan users’ irises to verify their identities, a process that has raised concerns over the security and use of biometric data. Ada Chung Lai-ling, Hong Kong’s privacy commissioner for personal data, urged the public to be cautious about sharing sensitive personal information, especially through activities like iris scanning. Th...

Renowned for his remarkable achievements with the ChatGPT launch, Sam Altman, the CEO of OpenAI, is once again grabbing attention. This time, it’s due to his crypto venture. Following a three-year endeavor, facing various digital-asset market fluctuations and substantial financial investments, the iris biometric crypto currency project, Worldcoin , has now been officially launched. Altman added, “Worldcoin is an attempt at global scale alignment, the journey will be challenging and the outcome is uncertain.” The Worldcoin project is now live. pic.twitter.com/xZXG4w56Ps — Worldcoin (@worldcoin) July 24, 2023 Additionally, on July 23, users were presented with a notification urging them to update the mobile app. This further resulted in the app’s functionality being temporarily blocked. The message displayed read, “It’s time. Join us in the World App. July 24, 2023, 11 am.” Also Read: OpenAI CEO Sam Altman Raises $115M for ...