DeFi

Worldcoin

Planet

<blockquote>
 UPDATE (1 February 2024): This news report has been updated with comments and clarifications provided to DeFi Planet by the WorldCoin team, and its headline has been adjusted for accuracy (“Privacy Watchdog Raises Alarms on Data Privacy Breach” was replaced with “Privacy Watchdog Raids Offices Amidst Data Protection Investigation”. This is to clarify that there is no conclusion of a “breach” of privacy laws yet.
</blockquote> 
<div class="intro-text"> 
 Hong Kong’s Privacy Commissioner’s Office (PCPD) has stated that Worldcoin poses serious risks to users’ personal data privacy and may have violated several privacy regulations in the region.&nbsp; 
</div> 
The privacy watchdog released a <a href="https://www.pcpd.org.hk/english/news_events/media_statements/press_20240131.html">statement </a>on Wednesday, January 31, 2024, which announced that it was investigating whether or not the Sam Altman-led blockchain project’s operations, particularly its collation of sensitive personal data, was in contravention of the region’s Privacy Ordinance provisions. 
<figure id="attachment_12670" aria-describedby="caption-attachment-12670" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-12670" src="https://defi-planet.com/wp-content/uploads/2024/01/PCPD-Updated.png" alt="The Office of the Privacy Commissioner’s Statement Regarding the Investigation of Worldcoin." width="604" height="643" srcset="https://defi-planet.com/wp-content/uploads/2024/01/PCPD-Updated.png 604w, https://defi-planet.com/wp-content/uploads/2024/01/PCPD-Updated-282x300.png 282w, https://defi-planet.com/wp-content/uploads/2024/01/PCPD-Updated-600x639.png 600w" sizes="(max-width: 604px) 100vw, 604px">
 <figcaption id="caption-attachment-12670" class="wp-caption-text">
 The Office of the Privacy Commissioner’s Statement Regarding the Investigation of Worldcoin. Source: <a href="https://pcpd.org.hk/english/news_events/media_statements/press_20240131.html">Official Website</a>
 </figcaption>
</figure> 
The PCPD’s statement comes after it began an investigation into Worldcoin’s operations. The investigation, which was initiated under a court warrant, has seen the agency search six premises of the project in different locations in Hong Kong. The investigation is focused primarily on Worldcoin’s iris verification process, as the PCPD recognized iris data as a component of biometric information. 
The development team of Worldcoin emphasized its dedication to compliance with relevant laws, including The Hong Kong Personal Data (Privacy) Ordinance, and insisted that no data breach has occurred.&nbsp; In a statement released to DeFi Planet, Worldcoin stated the following: 
<blockquote>
 “Worldcoin was established to help create access and participation in the global digital economy while preserving privacy. Worldcoin does not seek to know who a person is, just that they are human and unique. As such, any information used to verify unique humanness is promptly deleted by default. 
 Worldcoin welcomes regulators, including the Office of the Privacy Commissioner for Personal Data (PCPD), and consumers to inquire and seek information or clarifications about its programs available to the people in their communities, cities, countries or regions. The Worldcoin Foundation is committed to full compliance with all relevant laws and regulations governing the processing of personal data in the markets where Worldcoin operates. This includes, but is not limited to, The Hong Kong Personal Data (Privacy) Ordinance. Despite reports, no data breach has occurred.”&nbsp;
</blockquote> 
Worldcoin was <a style="color: #0000ff;" href="https://defi-planet.com/2023/10/lessons-in-privacy-from-the-controversial-worldcoin-project/">launched with the intention of providing universal access to the global economy</a> through a combination of AI, blockchain, and cryptocurrencies. For a limited-time, a grant of 25 Worldcoin (WLD) tokens, was offered to all Worldcoin account holders during the Worldcoin launch in July 2023 (referred to as the “Genesis Grant”’). Worldcoin account holders could claim it with their World ID, or reserve it to be claimed within 12 months of verifying at an Orb.&nbsp; Individuals who fully verify their uniqueness at an Orb may claim free WLD tokens via their World App, so long as they are located in a jurisdiction where the WLD token is available. Verified users are able to claim a grant for 10 WLD after verification at an Orb. &nbsp; 
Worldcoin has always insisted that the project’s objective is not to identify individuals but to verify their human and unique status, and that any information used for the verification is promptly deleted by default. The project has been under regulatory scrutiny in a number of countries since its<a style="color: #0000ff;" href="https://defi-planet.com/2023/07/worldcoin-launches-wld-token-world-id-for-over-two-million-users/"> impressive launch in August 2023</a>. The Kenyan government <a href="https://defi-planet.com/2023/08/kenya-suspends-worldcoin-project-over-data-privacy-concerns/">suspended </a>its operations within a few days of its launch in the country over privacy concerns. Regulators worldwide have also conducted multiple <a style="color: #0000ff;" href="https://defi-planet.com/2023/07/uk-data-regulator-to-investigate-worldcoin-over-privacy-concerns/">investigations</a> centered around the project’s collection of biometric data. 
<a style="color: #0000ff;" href="https://techcrunch.com/2023/12/20/worldcoin-is-no-longer-offering-orb-verification-in-india-brazil-and-france/">According to a report by TechCrunch</a>, Worldcoin temporarily suspended its Orb services in India, Brazil, and France in December 2023 to address regulatory issues. The platform said that this suspension was temporary and plans to reintroduce services in these markets more strategically in 2024. 
Meanwhile, the PCPD has encouraged Hong Kong citizens to report any complaint against the project as it continues its investigation. The agency also cautioned the public to be careful with whom they divulged their sensitive and private data. 
WorldCoin (WDC) is currently trading at $0.007496 with a 24-hour trading volume of $816.27, according to <a style="color: #0000ff;" href="https://coinmarketcap.com/currencies/worldcoin/">CoinMarketCap</a>. 
&nbsp; 
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The post <a href="https://defi-planet.com/2024/01/worldcoin-faces-scrutiny-in-hong-kong-privacy-watchdog-raids-offices-amidst-data-protection-investigation/">Worldcoin Faces Scrutiny in Hong Kong: Privacy Watchdog Raids Offices Amidst Data Protection Investigation</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Worldcoin Faces Scrutiny in Hong Kong: Privacy Watchdog Raids Offices Amidst Data Protection Investigation

DeFi Planet

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