The Spanish data protection authority recently revealed that Worldcoin has agreed to suspend its operations in Spain until the end of the year. The announcement came from the Spanish Agency for Data Protection (AEPD) on June 4th, stating that Tools for Humanity Corporation, the company behind Worldcoin, will refrain from collecting and processing data until the investigations are concluded or until the end of 2024.
The investigation is being carried out by the data protection authority of Bavaria, Germany, known as Bayerische Landesamt für Datenschutzaufsicht (BayLDA). The BayLDA is actively progressing with the investigation and is expected to reach a decision soon, which will be in line with the other European supervisory authorities, including the Spanish authorities. In March 2024, the Spanish authorities instructed Worldcoin to halt its data collection and processing activities in Spain related to the Worldcoin project.
During the investigation period, Worldcoin has taken additional security measures, such as open-sourcing its biometric data system. Additionally, users now have the ability to securely delete old iris codes. The project has also implemented stricter controls to verify user age and the option to remove the iris code.
Spain and Germany are not the only countries expressing concerns about Worldcoin. The project was also ordered to cease operations in Hong Kong on May 22nd due to its retention of sensitive biometric data for up to 10 years. This data included face and iris images and was being used to train artificial intelligence (AI) models.
Despite regulatory concerns, Worldcoin has been experiencing growth in terms of its user base. In April 2024, it reached a significant milestone of 10 million users and 70 million transactions. The project gained attention when a man in Africa used its cryptocurrency to purchase approximately 13 goats. In the same month, Worldcoin announced the launch of its own blockchain network called World Chain, which focuses on prioritizing human users, improving efficiency, and enhancing real-world utility in Web3 applications.
Worldcoin also disclosed its plan to increase the supply of its token, WLD, by up to 19% within the next six months. This move aims to support the project’s expansion and development.
In conclusion, while Worldcoin faces ongoing investigations and regulatory scrutiny, it continues to gain momentum and attract a growing user base. The project’s recent developments, including the launch of World Chain and plans to increase token supply, demonstrate its commitment to innovation and progress.