- Spain has moved to block Sam Altman’s cryptocurrency project Worldcoin, the latest blow to a venture that has raised controversy in multiple countries by collecting customers’ personal data using an eyeball-scanning “orb.”
- Worldcoin has registered 4 million users, according to a person with knowledge of the matter. Investors poured roughly $250 million into the company, including venture capital groups Andreessen Horowitz and Khosla Ventures, internet entrepreneur Reid Hoffman and, prior to the collapse of his FTX empire, Sam Bankman-Fried.
- “I want to send a message to young people. I understand that it can be very tempting to get €70 or €80 that sorts you out for the weekend,” España Martí said, but “giving away personal data in exchange for these derisory amounts of money is a short, medium and long-term risk.”
- Sharing such biometric data, she said, opened people up to a variety of risks ranging from identity fraud to breaches of health privacy and discrimination.
This is the best summary I could come up with:
Spain has moved to block Sam Altman’s cryptocurrency project Worldcoin, the latest blow to a venture that has raised controversy in multiple countries by collecting customers’ personal data using an eyeball-scanning “orb.”
Mar España Martí, AEPD director, said Spain was the first European country to move against Worldcoin and that it was impelled by special concern that the company was collecting information about minors.
The Spanish regulator’s decision is the latest blow to the aspirations of the OpenAI boss and his Worldcoin co-founders Max Novendstern and Alex Blania following a series of setbacks elsewhere in the world.
At the point of its rollout last summer, the San Francisco and Berlin headquartered start-up avoided launching its crypto tokens in the US on account of the country’s harsh crackdown on the digital assets sector.
While some jurisdictions have raised concerns about the viability of a Worldcoin cryptocurrency token, Spain’s latest crackdown targets the start-up’s primary efforts to establish a method to prove customers’ “personhood”—work that Altman characterizes as essential in a world where sophisticated AI is harder to distinguish from humans.
The project attracted media attention and prompted a handful of consumer complaints in Spain as queues began to grow at the stands in shopping centers where Worldcoin is offering cryptocurrency in exchange for eyeball scans.
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