The Worldcoin Foundation expressed disappointment with the recent ban imposed by regulatory authorities in Hong Kong, highlighting its commitment to operating lawfully and complying with data privacy regulations.
A spokesperson for the Worldcoin Foundation stated that the organization is dedicated to abiding by all laws and regulations related to data collection and usage, ensuring full compliance with Hong Kong’s personal data (privacy) ordinance.
Emphasizing its goal of preparing society for the era of artificial intelligence, Worldcoin outlined its strategy of enhancing privacy standards through methods such as data minimization, user control over data, and advanced technologies like personal custody, iris code deletion, and secure multi-party computation. These measures are aimed at guaranteeing the highest levels of security and privacy for user data.
In response to the ban in Hong Kong, which was based on concerns raised by the region’s privacy regulator regarding the handling of biometric data, Worldcoin reiterated its commitment to privacy and security. The Privacy Commissioner, Ada Chung Lai-ling, found that the collection of face and iris images by Worldcoin was deemed unnecessary and excessive, leading to violations of local privacy laws.
Following the investigation, the Office of the Privacy Commissioner for Personal Data directed Worldcoin to cease all operations involving the scanning and collection of iris and face images in Hong Kong. This enforcement notice was issued after Worldcoin was found to have failed in informing participants of their data access and correction rights, further breaching privacy regulations.
Established in 2019 by Sam Altman, Max Novendstern, and Alex Blania, Worldcoin is a cryptocurrency project focused on developing a global digital identity platform utilizing iris-scanning technology. The project recently secured $115 million in a Series C funding round led by Blockchain Capital, with contributions from Andreessen Horowitz (a16z), Bain Capital Crypto, and Distributed Global.
As Worldcoin faces regulatory pressure, the project is taking steps to boost its token supply, aiming to navigate the challenges posed by regulatory authorities while continuing to prioritize user privacy and data security.