Worldcoin Reports Record Single-Day Sign-Ups in Argentina Despite Data Scrutiny

Updated: 31 August 2023

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Worldcoin, a cryptocurrency project centred on identity and co-founded by Sam Altman, set a record for single-day sign-ups in Argentina this month.

Worldcoin signed up 9,500 people in Argentina in a single day, it said in an Aug. 31 blog post. That translates to roughly one verified individual every 9 seconds. The achievement came despite ongoing investigations into the project’s data handling practices by Argentina’s authorities and data protection agencies worldwide.

Argentina is one of the world’s leading countries for blockchain innovation & crypto adoption. That reputation was reinforced recently, as demand for World ID led to 9.5K Orb verifications in 24 hours—a new global record. https://t.co/DEMx1Yda2O

— Worldcoin (@worldcoin) August 31, 2023

The project, which was officially launched on July 24, has garnered attention for its unique approach to online identity verification using iris scans. Worldcoin’s Orbs have been accessible in cities that include Buenos Aires, Mar del Plata, Cordoba, and Mendoza.

Worldcoin Data Privacy Investigations Cast a Shadow

The project remains under scrutiny from regulatory bodies concerned about data privacy. Argentina’s authorities have initiated an investigation into Worldcoin’s data handling practices, specifically focusing on the collection, storage, and utilization of personal data.

The Public Information Access Agency in Argentina has stated its intention to thoroughly analyze the processes involved and to take necessary measures if any issues are identified. “Appropriate actions will be taken to address any identified issues and ensure that the company complies with security and privacy standards,” it said.

In line with the current laws in Argentina, projects such as Worldcoin are obligated to register with the Argentine Agency of Access to Public Information. This registration entails providing a comprehensive account of their data collection and storage procedures.

Global Scrutiny Beyond Argentina’s Borders

Scrutiny of Worldcoin’s activities extends beyond Argentina’s borders. France’s privacy regulator has raised questions about the legality of Worldcoin’s collection of biometric data, while the United Kingdom’s Information Commissioner’s Office and Germany’s Bavarian State Office of Data Protection Supervision have also expressed reservations and initiated investigations.

The global concerns regarding its data practices have even reached Kenya, one of the countries where the project had been launched. The Kenyan interior ministry recently announced the suspension of local Worldcoin activities in order to assess potential risks to public safety. Reports from local media indicate that more than 350,000 individuals in Kenya have registered for Worldcoin scans.

In the most recent update, a Kenyan High Court directed Worldcoin and its collaborators to cease any additional processing of biometric data until the legal case involving the cryptocurrency project is resolved.

Despite its reported growing popularity, Worldcoin’s native token, WLD, hasn’t translated this into price gains. As per CoinGecko data, the cryptocurrency is presently valued at $1.2, more than 48% down in the past month.