Worldcoin has agreed to halt operations in Spain until the end of 2024 or until the conclusion of an ongoing investigation.
The Spanish data authority announced that Worldcoin has legally agreed to refrain from resuming its operations in Spain until the end of the year.
Tools for Humanity Corporation, the firm that is responsible for the human identification and financial network Worldcoin, stated on June 4 that it will not resume collecting and processing data until the end of 2024 or until the final resolutions of an ongoing inquiry.
The Spanish Agency for Data Protection (AEPD) made this announcement. Bayerische Landesamt für Datenschutzaufsicht (BayLDA), the data protection authority of Bavaria, Germany, is now investigating the organization in relation to how it handles personal user data.
The release states that the BayLDA is actively pursuing the investigations and expects to conclude “soon” with a final decision that aligns with all relevant European supervisory bodies.
One of these entities is the Spanish government, which issued an order in March 2024 instructing Worldcoin to cease the collection and processing of personal data that it was carrying out in Spain as part of its Worldcoin initiative.
During the course of this study, Worldcoin has strengthened its security procedures by open-sourcing its biometric data system. Additionally, it has certified that users are now able to erase old iris codes in a secure manner. In addition to this, it included the possibility of deleting the iris code and the introduction of more thorough measures to verify users’ age.
Among the many nations that have expressed their disapproval of the Worldcoin program, Spain and Germany are only two of the prominent examples. After a finding that the project’s preservation of sensitive biometric data for up to ten years for the purpose of training artificial intelligence (AI) models, which included photographs of the face and iris, was not justifiable, the project was ordered to cease operations in Hong Kong on May 22.
Worldcoin gains momentum
The Worldcoin project has been gaining momentum in terms of its user base, despite the fact that industry regulators are concerned about Worldcoin’s activities.It passed a significant milestone in April 2024, when it reached 10 million users and 70 million transactions alike.
Additionally, it caught the attention of the media after a guy in Africa used his money to buy approximately thirteen goats. Additionally, in April, the project made an announcement about the launch of its very own “human-centric” blockchain network, known as World Chain.
We intentionally created this network to prioritize human users, enhance efficiency, and promote real-world utility in Web3 applications. Worldcoin has announced that it will increase the supply of its token, symbol WLD, by up to 19% within the next half year.