A German data watchdog has been investigating OpenAI CEO Sam Altman's Worldcoin project since late last year due to concerns over its large-scale processing of sensitive biometric data, the regulator's president told Reuters.
Worldcoin, which launched last week, requires users to give their iris scans in exchange for a digital ID and, in some countries, free cryptocurrency as part of plans to create a new "identity and financial network".
Will said the Bavarian state regulator is the lead authority investigating Worldcoin under the European Union's data protection rules because Tools For Humanity, the company behind Worldcoin, has a German subsidiary there."These technologies are at first sight neither established nor well analysed for the specific core purpose of the processing in the field of transferring financial information," Will said.
Worldcoin did not immediately respond to a request for comment. Its website describes its network as "privacy-preserving" and says personal data is stored in encrypted form. Since the project's launch, people have been getting their faces scanned by a shiny spherical "orb" in sign-up sites around the world including in France, Germany and Spain. Worldcoin says 2.1 million have signed up, mostly during a trial period over the last two years.
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