TL;DR
1.Worldcoin's WLD token soars 140% as World App hits 1M daily users.
2.Worldcoin: UBI vision with iris scanning rewards.
3.Worldcoin under scrutiny: Privacy concerns spark investigation.
4.Worldcoin faces regulatory hurdles amid WLD token surge.
5.OpenAI unveils Sora text-to-video tool amid Worldcoin's rise.
Worldcoin (WLD) token, a project co-founded by OpenAI CEO Sam Altman, has experienced a remarkable surge, increasing by over 140% in the past week. This surge coincides with the milestone achievement of the Worldcoin wallet app, named "World App," reaching over 1 million daily users.
Launched in July 2023 by Sam Altman and Alex Blania, Worldcoin aims to establish a "privacy-preserving" digital identity verification system. Users are rewarded in WLD tokens for scanning their irises, forming part of the project's vision to introduce Universal Basic Income (UBI) worldwide by providing a small amount of WLD tokens to everyone upon identity verification.
Worldcoin’s price has surged more than 172% in the past two weeks. Source: CoinGecko
Despite its ambitious goals, Worldcoin has faced controversies, particularly concerning privacy issues related to its iris-scanning devices called "Orbs." In response, the Office of the Privacy Commissioner for Personal Data (PCPD) in Hong Kong initiated an investigation into Worldcoin's operations, citing significant risks to personal data privacy.
Worldcoin's activities have attracted regulatory scrutiny in various jurisdictions, leading to service suspensions in Kenya and the halting of iris scans in India. Despite these challenges, the native WLD token has seen a remarkable increase of over 141% in value over the past week, reflecting a broader rally in the cryptocurrency sector.
Coinciding with Worldcoin's surge, OpenAI has introduced notable advancements. On Feb. 16, the organization unveiled Sora, a text-to-video generator enabling users to create video clips from text inputs. Additionally, OpenAI CEO Sam Altman announced plans to raise $7 trillion to support the firm's semiconductor chip development efforts, drawing attention within the tech industry.
While Worldcoin celebrates significant milestones and OpenAI drives innovation, regulatory challenges and privacy concerns loom over the project's future. The surge in Worldcoin's token value reflects market optimism, but ongoing controversies underscore the need for careful consideration and resolution of privacy issues.
Worldcoin grapples with legal challenges over its data practices as it faces potential fines, yet WLD's market resilience shows the unpredictable nature of cryptocurrencies.
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