Worldcoin’s Data Collection Activities Hits Pause In Spain – Here’s Why

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As an analyst with a background in data privacy and technology, I’m closely following the developments surrounding Worldcoin and its ongoing investigations by various data protection authorities across the globe. The recent decision to halt operations in Spain is not an isolated event but rather reflects a broader scrutiny of the company’s biometric data collection practices.

I, Worldcoin through Tools for Humanity Corporation, have chosen to suspend our activities in Spain until at least the end of 2024. This action follows an ongoing examination by the Spanish Agency for Data Protection (AEPD) into our data gathering and processing methods.

The Worldcoin project is currently facing closer examination in multiple international legal frameworks, as signified by this pause.

The investigation conducted by the Spanish Data Protection Agency (AEPD) is not unique; there have been comparable issues brought up by data protection regulators in other nations, such as Germany and Hong Kong.

Experts are scrutinizing the details and scope of Worldcoin’s biometric data gathering process, focusing on the acquisition of iris and facial scans, in order to establish a global digital identity system.

European Investigations Intensify

Based on the report, the Bayerische Landesamt für Datenschutzaufsicht (BayLDA) in Bavaria, Germany, is spearheading the European investigation. The BayLDA has signaled that they will soon finalize their discoveries and aim to make a determination consistent with the guidelines of all involved European data protection authorities.

The outcome of this decision significantly impacts how Worldcoin manages its European operations moving forward, with specific implications regarding the handling of the sensitive biometric information that the company gathers.

Back in March 2024, the Spanish Agency for Data Protection (AEPD) ordered Worldcoin to stop their data operations due to GDPR concerns. The reason being the necessity to protect personal data according to the European Union’s General Data Protection Regulation.

The Spanish National Court placed greater importance on safeguarding personal information than on a company’s business needs in making this decision.

Worldcoin Technological And Operational Adjustments

To address the regulatory hurdles it faces, Worldcoin has made some adjustments to how it manages data. The organization has publicly shared its biometric data system, which now employs secure multi-party computation (SMPC) technology for enhanced security.

With this technology, encrypted fragments of confidential information are dispersed among various entities, preventing any one party from gaining access to the entire dataset. By employing this method, we reduce the likelihood of data breaches and strengthen the protection of stored data as a whole.

As a crypto investor, I’m excited about the innovative solution the Worldcoin Foundation has come up with in partnership with tech experts from TACEO and Tools for Humanity. They’ve created a new implementation of Scalable Multi-Party Computation (SMPC) to tackle the challenges of scalability and cost. This means that complex computational tasks can be carried out across a network of computers without compromising security or efficiency. It’s an important step forward in making decentralized technologies more accessible and affordable for everyone.

The rising global need for biometric data processing capabilities makes this development noteworthy.

Furthermore, Worldcoin has enhanced its user experience by enabling people to safely remove previous iris codes and enforced rigorous checks for age verification and an option to decline iris scanning.

After the news broke about Spain halting operations for Worldcoin, there was only a slight dip in its price from its peak of $4.89 within the last 24 hours. At present, the asset is being traded at $4.76, representing a modest gain of 0.7% over the past day.

Worldcoin’s Data Collection Activities Hits Pause In Spain – Here’s Why

Featured image created with DALL-E, chart from TradingView

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2024-06-05 08:11