• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Colombian Watchdog Investigates Worldcoin for Potential Data Protection Breaches

user avatar

by Giorgi Kostiuk

a year ago


  1. Case in Colombia
  2. Issues in Other Countries
  3. Implications for Worldcoin

  4. Colombia’s watchdog, the Superintendence of Industry and Commerce (SIC), has launched an investigation into the decentralized identity project Worldcoin, backed by Tools for Humanity. The project is accused of violating Colombia’s data protection laws.

    Case in Colombia

    Worldcoin has deployed its Orb devices in 25 locations across Colombia, including the capital city Bogota, Medellin, Cartagena, and Barranquilla. The SIC's main concern is whether Worldcoin and Tools for Humanity are adhering to Colombia’s personal data protection rules, particularly regarding the collection and processing of sensitive information.

    If found guilty of breaching data protection laws, Worldcoin could face severe consequences. The SIC has the authority to impose economic sanctions on the project and may also shut down its operations in Colombia for six months or permanently.

    Issues in Other Countries

    Colombia isn’t the first country to scrutinize Worldcoin’s activities. In July 2023, the Kenyan government halted Worldcoin’s operations due to data protection concerns. Kenyan authorities were worried about how Worldcoin was handling the biometric data collected from over a million users.

    Earlier this year, Spain also took action against Worldcoin. The Spanish Data Protection Agency (AEPD) temporarily banned the project and demanded explanations regarding its biometric data handling processes.

    Argentina has also raised concerns about Worldcoin’s practices. Although no official ban has been imposed, critics argue that Worldcoin is exploiting vulnerable populations and are calling for government intervention to protect citizens from potential data misuse.

    Implications for Worldcoin

    If the allegations are proven true, the repercussions for Worldcoin could be significant. Economic sanctions and temporary or permanent shutdowns in multiple countries could severely affect the project's reputation and financial health.

    The situation surrounding Worldcoin is still developing, and the outcome of the Colombian watchdog’s investigation could have a substantial impact on the project’s future and its interactions with regulators worldwide.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

KBW Upgrades TeraWulf to Outperform on AI Pivot

chest

KBW has upgraded TeraWulf's rating to outperform and raised its price target to 24, reflecting a strategic shift towards AI and high-performance computing leasing.

user avatarAyman Ben Youssef

Robinhood Launches Tokenized Stock Trading Amid Controversy

chest

Robinhood launches tokenized stock trading for EU customers, but faces controversy as OpenAI disavows the tokens.

user avatarTando Nkube

Institutional Interest in Ethereum Shows Strength

chest

Institutional interest in Ethereum has shown signs of strength, with net inflows of about 679 million into spot ETH ETFs recorded on Tuesday.

user avatarKofi Adjeman

Mark Zandi Predicts Three Interest Rate Cuts by June

chest

Mark Zandi forecasts that the Federal Reserve will implement three interest rate cuts before June, each by 0.25 percentage points, due to job market weakness and inflation concerns.

user avatarLucas Weissmann

Political Pressure Influences Federal Reserve's Rate Decisions

chest

Political pressure from President Trump influences the Federal Reserve's rate decisions, raising concerns about its independence.

user avatarSatoshi Nakamura

JPMorgan Introduces a Tokenized Money Market Fund on Ethereum.

chest

JPMorgan has launched a tokenized money market fund called My OnChain Net Yield Fund (MONY) on the Ethereum mainnet, which invests in US Treasurys and Treasury-backed repos.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.