The Kenyan parliamentary committee wants Worldcoin completely shut down. Sam Altman, the chief executive officer of OpenAI, conceived of this biometric cryptocurrency program. The committee was formed in August 2023 to examine Worldcoin’s Kenyan operations in detail. The order was issued on October 2, 2023, to protect the interests of the Kenyan populace from illicit activity.
As per information gathered on September 3, 2023, the program is refusing the aggregation of personal data belonging to the residents of Kenya despite asking them to refrain from doing so.
Additionally, the committee instructed the concerned officials to conduct investigations into the company’s affairs regarding fraudulent acts, along with closing all aspects of the program.
According to the directions issued, as well as an official court order, the Worldcoin web platform has yet to cease its registrations involving the Kenyan populace. The official report indicates that the government is concerned about the general population. The Kenyan government is aware of the magnitude of the mission of accounting for orbs in the country. The current issue is that they have little to no control over the number of individuals utilizing the iris authentication process.
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Considering this to be a priority issue, Kenyan policymakers are emphasizing that there is no real requirement for executing an effective structure regarding digital assets and virtual asset suppliers. They now insist that regulatory factors be enforced to prevent cyber fraud and address taxation needs.
In the opinion of policymakers, the unlicensed scenario related to crypto assets is decentralizing the international monetary method, which will indeed pose a legal problem.
In the same way, on August 3, 2023, Kenya declared the closure of Worldcoin, considering the large volume of registrations.
Worldcoin came into existence with the goal of being able to separate actual humans from AI bots. This is the prime reason behind the crypto program going in for retinal authentication technology and managing to register a whole lot of interested parties. The project, however, remains a constant in the eyes of the skeptics.
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Although many nations are attentively examining the program, Germany, Argentina, and the United Kingdom do not appear to be the least concerned.
