Spain has issued a directive against Sam Altman’s altcoin project Worldcoin, halting its activities within the country. Thus, he took decisive action against Worldcoin’s activities. This action highlights growing global concern over the project’s use of an “orb” to collect personal data. Worldcoin’s controversial plan in terms of privacy and biometric data ethics has alarmed many countries. Meanwhile, the latest development dealt a blow to the altcoin price. Worldcoin’s native token has fallen.
Worldcoin’s controversial biometric data collection method
The Spanish data protection authority AEPD has expressly requested that Worldcoin immediately stop collecting personal data from individuals in Spain. Additionally, the regulator ordered a halt to further use of data already collected. AEPD’s directive underscores growing digital privacy concerns amid new technologies.
One of AEPD’s critical concerns involves the potential for minors to interact with Worldcoin’s technology. Concern last year led to new age verification tests being rolled out on the project to prevent exposure to underage users. Despite the efforts, Spain’s actions demonstrate a broader reluctance to engage in rapid, invasive data collection, particularly with biometric information.
Altcoin price performance
The impact of the news on the altcoin price was staggering. WLD dropped from $7.35 to $6.10 during the day. Although the token later recovered slightly, it is still moving in the red zone. At press time, WLD was trading at $6.61, down 9.91% on a daily basis. Despite the bullish sentiment in the market, WLD also saw a decline of over 13% on its weekly chart.
More about Worldcoin
cryptokoin.comAs you follow from , Worldcoin’s proposal, spearheaded by Sam Altman, aims to revolutionize the way personal identity and financial transactions are conducted in the digital age. Worldcoin aimed to securely verify identities through “orb” eye scans for more secure and efficient crypto transactions. However, the project’s use of data has sparked controversy around privacy, consent and ethics in the use of biometric data.
Spain’s AEPD action reflects a trend for regulators to scrutinize tech firms that handle sensitive data. It also underlines the need to balance innovation with the protection of privacy and fundamental rights. Worldcoin needs to carefully review data protection laws to avoid compromising user privacy and trust.
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