World

Worldcoin

World ID

Worldcoin, the digital identity project co-founded by OpenAI CEO Sam Altman, is shifting its focus from Europe to Asia and other regions, according to an executive.
Fabian Bodensteiner, managing director of Worldcoin Europe and a founding team member, said Worldcoin is concentrating on markets where governments are more open to emerging technologies.
Speaking at the Sifted Summit — a Financial Times-backed event focused on European startups — Bodensteiner reportedly <a data-ct-non-breakable="null" href="https://sifted.eu/articles/worldcoin-europe-gdpr" rel="null" target="null" text="null" title="null">claimed</a> that European markets are not a large focus for Worldcoin. He said:
<blockquote>
 &nbsp;“We just see a larger dynamic in other regions of the world and because we’re not 1,000 employees we need to prioritize where we see the biggest business opportunities.”&nbsp;
</blockquote>
<h2 id="worldcoin-focuses-on-apac-and-latam-adoption">Worldcoin focuses on APAC and LATAM adoption</h2>
According to Bodensteiner, countries in the Asia-Pacific (APAC) region, such as Japan and Malaysia, and Latin American jurisdictions like Argentina, look more promising in terms of technology adoption.
He noted that Worldcoin is working with several prominent game publishers in APAC to integrate Worldcoin’s technology into their platforms.
<figure>
 <img alt="Europe, Privacy, Germany, Worldcoin" src="https://s3.cointelegraph.com/uploads/2024-10/01926696-beff-7801-a2c9-b95d2056d96f" title="">
 <figcaption style="text-align: center;">
 Worldcoin’s first World ID verification in Argentina. Source: <a data-ct-non-breakable="null" href="https://x.com/worldcoin/status/1840044546031321279" rel="null" target="null" text="null" title="https://x.com/worldcoin/status/1840044546031321279">Worldcoin</a>
 </figcaption>
</figure>
“As we enter a market like Malaysia, the goal is not only to make it accessible to consumers,” Bodensteiner <a data-ct-non-breakable="null" href="https://theedgemalaysia.com/content/advertise/worldcoin-preparing-malaysia-for-the-age-of-ai" rel="null" target="null" text="null" title="null">said</a> in late September. Worldcoin’s presence in the country is also about reaching out to local businesses and explaining the concept of integrating its “digital passport” known as World ID.
He said Worldcoin is collaborating with local platforms, including Malaysia’s national applied research and development center, Mimos, and the e-government services app, MyEG Services.
<h2 id="worldcoin-remains-committed-to-the-eu-market">Worldcoin remains committed to the EU market</h2>
Despite shifting focus to other regions, Worldcoin is continuing its operations in Europe, though the project has faced challenges. 
Launched in July 2023, Worldcoin is a for-profit cryptocurrency project that uses iris biometrics developed by Tools for Humanity, co-founded by Altman.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/worldcoin-singapore-investigation-money-laundering-terrorism-financing" rel="null" target="null" text="null" title="null">Singapore probes illegal Worldcoin accounts and token sales</a>
A German data protection authority, the Bavarian State Office for Data Protection Supervision (BayLDA), <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/german-government-watchdog-launched-worldcoin-probe" rel="null" target="null" text="null" title="null">initiated a probe into Worldcoin in July 2023</a>, citing concerns over biometric data collection. The BayLDA is reportedly expected to deliver a regulatory decision on Worldcoin’s operations in Europe later in October.
<figure>
 <img alt="Europe, Privacy, Germany, Worldcoin" src="https://s3.cointelegraph.com/uploads/2024-10/01926696-5655-7ad5-8d05-31932477ca20" title="">
 <figcaption style="text-align: center;">
 Fabian Bodensteiner (left) and Phillip Sippl. Source: NN Group
 </figcaption>
</figure>
Authorities in other European countries like <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/worldcoin-spain-activity-suspension" rel="null" target="null" text="null" title="null">Spain</a> and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/portuguese-regulator-bans-worldcoin-90-days" rel="null" target="null" text="null" title="null">Portugal</a> temporarily suspended Worldcoin operations in 2024 over concerns about processing sensitive data.
Still, Worldcoin successfully <a data-ct-non-breakable="null" href="https://worldcoin.org/blog/announcements/world-id-humanness-verification-launches-poland-help-increase-trust-online" rel="null" target="null" text="null" title="null">launched</a> operations in Poland in September and <a data-ct-non-breakable="null" href="https://worldcoin.org/blog/announcements/world-id-verification-launches-austria-increasing-proof-humanness-access-europe" rel="null" target="null" text="null" title="null">started</a> World ID verifications in Austria in July.&nbsp;
Despite encountering some difficulties in Europe, Worldcoin remains committed to its conversation with European regulators, according to Bodensteiner.
“We want to make it work here; we don’t just want to leave Europe and dodge things,” he said.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/advanced-ai-system-already-self-aware-asi-alliance-founder-agi/" rel="null" target="null" text="null" title="null">Advanced AI system is already ‘self-aware’ — ASI Alliance founder</a>

Europe not a top priority for Sam Altman’s Worldcoin, exec says

Table of Contents

Cointelegraph

Other articles published on Oct 7, 2024

Scammers Halt Activities Targeting TON Network Users

Coinpedia Fintech News

Is Len Sassaman Still a Satoshi Contender?

Bitcoin Price Nears $64K: What's Next?

Arkham Uncovers Bitcoin Wallet with $72.5 Million

Shiba Inu ETF To Go Live Before DOGE? Wall Street Experts Spark Speculation

Join our free newsletter for daily crypto updates!