An eye-scanning biometric crypto project is plummeting after halting operations in Brazil, France and India.
Digital ID-focused crypto asset Worldcoin (WLD), co-founded by OpenAI CEO Sam Altman, says operations in the three countries have now been temporarily halted.
World Mint Foundation tells TechCrunch says the protocol remains committed to “working with partners around the world to ensure it meets regulatory requirements and provides a safe, secure and transparent service for authenticated people.”
Worldcoin’s Orb is a helmet-shaped peripheral device that scans people’s eyes to verify their identity.
To use it, traders must first download the Worldcoin app, purchase a compatible crypto wallet, and then visit an Orb to receive their identification or World ID.
According to TechCrunch, Worldcoin is still planning to onboard people in India and has recently undergone an update, allowing it to distinguish between bots and humans and integrate user world IDs into selection protocols such as Minecraft, Reddit and Telegram.
The project’s native altcoin WLD plummeted from an all-time high of $4.73 on December 17 to $3.59 at the time of writing, a drop of around 22%.
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Generated image: Midjourney