Following the temporary ban in Spain, Worldcoin (WLD) published a report arguing that the cryptocurrency project protects user privacy.
The report was published today following a Spanish court's decision earlier this week to uphold a ban on Worldcoin's operations in the country.
Worldcoin's procedures, which use an iris scanning system to verify that users are truly human, were audited by security firm Trail of Bits. The audit was commissioned by Tools for Humanity, a major contributor to the project and founded by OpenAI CEO Sam Altman.
In the audit conducted by Trail of Bits, it was determined that Worldcoin's Orbs that read human eye irises do not store personal information. Instead, the only data loaded from the device is the user's “iris code”. Users whose irises are scanned by Orb are rewarded with Worldcoin's native WLD token.
According to Worldcoin's website, the project has already received more than 4.2 million registrations.
Tools for Humanity Chief of Staff Vlada Labzeyeva emphasized the importance of privacy and security for the project. “Privacy and security are at the heart of the Worldcoin project's mission to build the largest decentralized identity network of real people to improve online trust and access to the global economy,” Labzeyeva said.
*This is not investment advice.