CryptoMediaClub
Friday, July 4, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Worldcoin Faces Ongoing Investigation by German Privacy Regulator Over Data Collection Practices

03.08.2023
A A
0
128
VIEWS
ShareShare

As the cryptocurrency market continues to evolve, Worldcoin, a project founded by Open AI’s Sam Altman, finds itself under investigation by one of Germany’s top privacy regulators, the Bavarian State Office for Data Protection Supervision. The investigation, which began in November 2022, is still ongoing, according to a recent report by Reuters on July 31.

At the heart of the investigation are concerns surrounding Worldcoin’s ambitious goal to process “sensitive data at a very large scale.” The project aims to establish a decentralized “identity and financial network” and recently launched on July 24, deploying 1500 physical “orbs” in cities worldwide. These orbs scan people’s eyes to create a unique Worldcoin ID, rewarding participants with 25 Worldcoin and a distinct identification on the network.

However, Europe’s strict data protection rules have raised significant concerns among privacy regulators. The German watchdog is spearheading the investigation due to the presence of Tools for Humanity, the company behind the Worldcoin project, having a subsidiary in Germany. This has also drawn the interest of other European authorities, who have sought information as the project falls under German regulator’s oversight.

Privacy regulators in the UK and France have launched their own investigations into Worldcoin, with French authorities collaborating with their German counterparts. The primary concerns revolve around the security and explicit consent for collecting sensitive biometric data, as well as the overall soundness and security of the underlying technology.

Responding to the investigation, President Michael Will of the Bavarian State Office for Data Protection Supervision expressed doubts about the technologies involved, stating they appear unestablished and inadequately analyzed for the specific purpose of transferring financial information.

In defense, Worldcoin’s website and whitepaper claim that the collected data is stored in encrypted form, and the project utilizes zero-knowledge proof technology for verification. Previously, Worldcoin assured CryptoSlate that it was fully compliant with European data rules and subject to supervision by the Bavarian State Office for Data Protection Supervision. However, it remains uncertain if the project was aware of the ongoing investigation.

As of press time, Worldcoin and Tools for Humanity have not responded to requests for comments regarding the investigation.

While the situation poses challenges for Worldcoin, the ongoing developments in the cryptocurrency market present potential opportunities for investors. As the regulatory landscape evolves, projects that successfully navigate data protection concerns and comply with stringent standards may gain significant traction. Investors should closely monitor the outcomes of the investigation and the actions taken by Worldcoin and other cryptocurrency ventures in response to regulatory scrutiny.

The post Worldcoin Faces Ongoing Investigation by German Privacy Regulator Over Data Collection Practices appeared first on BitcoinWorld.

Share10Tweet6ShareSharePin2

Related Posts

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift
Blockchain

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift

04.07.2025
0

Skip to content

Read moreDetails
Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

03.07.2025
Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

03.07.2025
Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

30.06.2025
Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

25.06.2025
Load More
Next Post
Coinbase’s Layer 2 Network, Base, Witnessing Explosive Growth in DeFi Activity

Coinbase’s Layer 2 Network, Base, Witnessing Explosive Growth in DeFi Activity

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

CryptoProcessing.com Simplifies Mass Payouts

CryptoProcessing.com Simplifies Mass Payouts

9 months ago
Number of Active Addresses on Ethereum and L2 Protocols Grew by 127%

Number of Active Addresses on Ethereum and L2 Protocols Grew by 127%

11 months ago
FTX investor Temasek pours $10M into algorithmic currency system Array

FTX investor Temasek pours $10M into algorithmic currency system Array

2 years ago
Cyprus Extends Suspension of FTX’s European Arm by Another Six Months

Cyprus Extends Suspension of FTX’s European Arm by Another Six Months

8 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Chinese Tech Giants Plan to Issue Yuan-Pegged Stablecoins

Why Is Crypto Down Today? – July 4, 2025

MARA’s $5.4B Bitcoin treasury grows to 50k BTC as miners adopt a HODL strategy

Binance Launches Crypto Payments on French Riviera

Binance Launches Institutional Loans With Up to 4x Leverage, Zero Interest Offers

Solo Bitcoin Miner Strikes Gold, Nets Nearly $350,000 from Single Block

Trending

Why a handful of altcoins are surging over 30% as Bitcoin trends sideways
Analysis

Why a handful of altcoins are surging over 30% as Bitcoin trends sideways

04.07.2025
0

While the broader crypto market remains subdued, with both Bitcoin and Ethereum posting slight losses, a select...

Bitcoin Price Prediction – Senator Lummis Pushes Tax-Free BTC Spending Bill: Is This the First Step Toward Mass Adoption?

Bitcoin Price Prediction – Senator Lummis Pushes Tax-Free BTC Spending Bill: Is This the First Step Toward Mass Adoption?

04.07.2025
Polymarket bettors forecast 75% chance Bitcoin reaches $120k in 2025 as prediction volume jumps 30%

Polymarket bettors forecast 75% chance Bitcoin reaches $120k in 2025 as prediction volume jumps 30%

04.07.2025
Chinese Tech Giants Plan to Issue Yuan-Pegged Stablecoins

Chinese Tech Giants Plan to Issue Yuan-Pegged Stablecoins

04.07.2025
Why Is Crypto Down Today? – July 4, 2025

Why Is Crypto Down Today? – July 4, 2025

04.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz