Privacy Wars: Worldcoin's Struggle for Acceptance Amidst KYC Backlash

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sayu9072.1 K2 years ago5 min read

Worldcoin has been a project that has gained a lot of attention ever since it came into existence and it has been very popular right since then the user base that it gained in such a short amount of time was very significant and very big without any doubts. They had very Revolutionary ideas that they wanted to implement in the market and they also had started of doing that process but the things that they were including in the procedure of getting people on board was something that had a lot of people back out of it.

The KYC procedure of getting yourself enrolled in the project was something that gained a lot of attention because it was something that involved a lot of data which people believed was a direct invasion of privacy in the manner it was been done as it involved getting your Iris photographs and a lot of other processes as well which included that your data will be completely available as a open source activity on the blockchain that they were about to be building.

There was quite a lot of protest about the same thing regarding privacy in different parts of the world by different authorities and individuals who are very influential in the market were talking about the same fact that it is something that will be harming the privacy of the users. Despite all of this there were numerous registrations across the world at the same time there was a lot of Government so were thinking of banning the project completely and also made sure that they were banned as well.

Just recently a parliamentary panel in Kenya called the IT regulator of its country and made their request to shut down the operations of the project of Worldcoin within the country until some more strict rules and regulations are put in place about cryptocurrencies and digital assets as well as all the projects that are involved with it.

The government however did already suspend all of the activities of the project in the country in early August because of the privacy allegations that were against it over the users who were subjected to Iris scanning for getting the digital ID and get themselves enrolled in the project. There are a lot of other branches of the project itself as there is Quetta bit of sister projects that are involved with the main 1 and all of them are under scrutiny in different parts of the world as well such as Britain Germany and France, testing and looking into all of them as well because of the same allegations.

After the August suspension that the Kenyan government placed on the project, there was still an online presence of the Worldcoin project and right now they have decided that they are completely going to cut off every connection that can be made with the project online such as by making sure that the IP addresses of the website and the related website are completely disabled and the virtual platforms for every tool for the project is also disabled from the service of the country and cannot be accessed.

Apart from that the physical presence of the company within the country is also going to be made sure that they do not exist as well such as the office places as well as the registration orbs that were put in place by the company are to be completely put to rest a** of now until there is a proper Framework for regulations of virtual assets within the country.

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The registration for the project was done by a very amazing tact take which saw a huge number of registrations being done everything will day there was a monetary award as well which was about $50 in terms of the coin itself that was given to every successful registered user as well as their was a very big queue that was seen in every single registration place and the scanning of iris was also one of the talking points.

The parliamentary panel has also requested the government that they are needed to develop regulations for Crypto acids which is going to be dictating the real rules as well as the ones that they need to be following which the companies need to follow as they are providing services that are something of very high risk and need some jurisdictions to be involved in all of those activities

It will be quite interesting to note how things are going to turn out in the following years are so after the new regulations or the upgraded ones are put in place within the country as well as what going to be the fate of the world coin project itself because it is also under the heavy screw in different parts of the world and also facing Bans in many countries as well because it has gained a very huge number of user base it will be very interesting to see that how they are going to utilize that as well