A Hong Kong regulator sent the Worldcoin Foundation an enforcement notice on Wednesday, directing it to cease all cryptocurrency project operations in the country due to a risk to privacy and personal data.
Citing a risk to privacy and personal data, a Hong Kong regulator on Wednesday served the Worldcoin Foundation with an enforcement notice ordering it to stop all cryptocurrency project operations in the nation.
The Office of the Privacy Commissioner for Personal Data (PCPD) also stated that Worldcoin ought to cease using its gadgets to scan and gather iris and facial photographs of the general public. Additionally, it labeled the data acquisition as “excessive and unnecessary.”
Worldcoin offers a digital ID and free cryptocurrency to those who have their irises scanned by one of its “orb” devices. According to its website, over 5 million individuals from over 160 countries have volunteered to have their irises scanned. However, the project has come under fire for its methods of gathering, storing, and using.
The Worldcoin Foundation expressed that it was “disappointed by the views released by the regulatory authorities in Hong Kong.”.
“Worldcoin operates lawfully and is designed to be fully compliant with all laws and regulations governing data collection and use, including the Personal Data (Privacy) Ordinance of Hong Kong, among many other similar statutes across other markets,” it stated in a statement sent by email.
Worldcoin, which OpenAI CEO Sam Altman co-founded, claims to be working toward a number of ambitious use cases on its website, such as separating human beings from artificial intelligence bots, in order to establish a worldwide identity and financial network similar to India’s Aadhaar biometric ID system.
Also read: Unveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity
Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter
About us:
CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK.
CIO News is a proprietary of Mercadeo Multiventures Pvt Ltd.
