Argentina’s Public Information Access Agency has launched a data privacy investigation into Sam Altman’s Worldcoin.
Since its public debut, Worldcoin (WLD), a blockchain-based biometrics collection initiative, has accrued more significant regulatory setbacks than victories.
Argentina Joins Other Countries in Worldcoin Investigation
A government information agency in Argentina, the Public Information Access Agency, has investigated Sam Altman’s project over data privacy concerns. This is not a surprising development.
The Public Information Access Agency has stated that it will devote resources to investigating the Worldcoin project’s data collection procedures. In addition, the Agency said that it would investigate the protocol’s storage and use of personal data as part of this investigation.
In a press release shared with the public, the Agency disclosed that it would take unspecified measures to resolve any discovered anomalies. The Worldcoin initiative has been labeled a highly revolutionary protocol that can address some of the world’s most pressing biometric data issues.
The project utilizes a specially designed device called a “Orb” to scan the Iris of individuals who are intrigued. As claimed, these data are stored securely and offer users control over their data, with an accompanying incentive involving the distribution of WLD tokens.
The data collection model and the distribution of WLD tokens have generated much uncertainty, with more queries than answers. Other nations have also launched investigations into Worldcoin, with authorities in Kenya, France, and Germany topping the list of nations investigating the project for various violations.
Price Forecast For WLD
Recently, the token’s price has been significantly impacted by the string of crackdowns on Worldcoin by various nations. According to current on-chain data, the price of WLD has decreased by 8.26% over the past 24 hours to USD 1.705.
The token, which currently has a market capitalization of $211.69 million at the current market price, may soon face additional disadvantages. The Worldcoin protocol is still in its infancy. Despite targeted government crackdowns in some regions, the protocol’s adoption in other areas may help sustain its growth shortly.
