UK regulator to examine Worldcoin’s activities

The UK Information Commissioners Office (ICO) will study the user verification process in Sam Altmans Worldcoin project. Reuters reports.

“We noted the launch of Worldcoin in the country and will conduct further investigations,” said to the publication a spokesperson for the agency.

The main product of Worldcoin—the World ID protocol—is based on zero-knowledge proofs. It is a mobile tool that allows people to undergo identity verification via iris scanning or a phone number.

Worldcoin’s launch raises questions for the regulator about user data protection. Under ICO rules, companies are required to conduct reliability checks on security systems when processing biometric data. If a firm identifies high risks, it must consult with the ICO.

In the United Kingdom, organisations must have a lawful basis for processing personal data. The process also requires a clearly stated user agreement.

“Worldcoin and the developer Tools for Humanity adhere to the strictest privacy rules and requirements in the markets where the product is available. In some jurisdictions, we continue to assess local laws and rules to ensure their compliance,” said заявляли representatives of the project.

The company noted that it always asks for user consent when collecting biometric data.

On July 24 Worldcoin announced the official launch and the release of the native token WLD. The listing of the new coin has already been supported by crypto exchanges Binance, Bybit and OKX.

Later, Ethereum co-founder Vitalik Buterin outlined the main risks of Sam Altman’s project. Among them, he highlighted security, centralization, and the technology’s inaccessibility.