The Worldcoin Foundation has expressed disappointment over Hong Kong regulatory authorities’ recent decision to ban its operations, emphasizing its dedication to lawful operations and compliance with data privacy regulations.
Worldcoin stressed its mission to prepare humanity for the age of artificial intelligence, advocating for enhanced privacy standards through methods like data minimization, user control over data, and advanced technologies such as personal custody, iris code deletion, and secure multi-party computation. The foundation argues these measures ensure user data is handled with the highest levels of security and privacy.
This response follows the Hong Kong privacy regulator’s finding that Worldcoin violated local privacy laws. The Privacy Commissioner, Ada Chung Lai-ling, stated that the collection of face and iris images by Worldcoin was “unnecessary and excessive,” contravening local rules.
Founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania, Worldcoin is a cryptocurrency project aiming to create a global digital identity platform using iris-scanning technology. In May 2023, the project raised $115 million in a Series C funding round led by Blockchain Capital, with participation from Andreessen Horowitz (a16z), Bain Capital Crypto, and Distributed Global.
Worldcoin maintains that its stringent data privacy and security measures are in place to protect users and that the Hong Kong ban overlooks the extensive safeguards implemented to comply with privacy laws.
Summary Review: The Worldcoin Foundation has firmly defended its operations and commitment to privacy standards in response to Hong Kong’s ban. The organization underscores its adherence to legal and data privacy regulations and emphasizes its advanced security measures designed to protect user information. Despite the setback, Worldcoin continues to advocate for its mission of preparing humanity for the age of artificial intelligence, demonstrating a strong commitment to lawful practices and the protection of personal data. The foundation remains optimistic about its global initiatives and future developments.
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