IRISnet(IRIS)

Hong Kong's Privacy Commissioner advised caution regarding Worldcoin while urging vigilance in protecting data.

The Central Bank of Ireland added Ripple's Irish subsidiary to its list of registered VASPs.

Despite facing a rough patch with global regulators, the iris-scanning Web3 project Worldcoin has seen over 4 million users download its mobile application.

To date, Irish authorities managed to recover approximately 4 million euro of the 20 million euro that were lost in banking scams since January 2023.

Kraken obtained a registration from Spain's central bank, while its Irish subsidiary secured a license.

Tether has invested a whopping $420 million to purchase thousands of GPU chips for a German crypto mining firm through an Irish shell company.

Worldcoin, the controversial project created by OpenAI CEO Sam Altman and launched in July, has attracted over 2.3 million global users.

The iris-scanning project saw a surge of signups in Argentina, registering an average of one user every nine seconds.

Iris Energy has invested $10 million in the latest generation Nvidia GPUs to explore generative AI while it continues to focus on Bitcoin mining.

In an opinion piece in The Wall Street Journal, Brian Brooks and Charles Calomiris claim that U.S. stablecoin legislation is crucial to re-dollarizing the world.

Identity and financial public network, Worldcoin has revealed plans to allow companies and governments everywhere to use its ID system. Worldcoin Growing Worldwide According to Ricardo Macieira, the general manager for Europe at Tools For Humanity (the San Francisco and Berlin-based company behind Worldcoin), the company will allow more users worldwide to sign up for its ID system. The company requires users to provide iris scans to obtain a digital ID and, in some regions, receive free cryptocurrency. It will also allow other organizations and governments worldwide to use its iris-scanning and identity-verifying technology. With a recent funding round that raised $115 million from venture capital investors like Blockchain Capital, a16z crypto, Bain Capital Crypto, and Distributed Global, Worldcoin plans to continue its expansion into Europe, Latin America, Africa, and other receptive regions. Enabling Third-Party Use In the future, Worldcoin intends to open-source the technology behind its iris-scanning orb, allowing others to benefit. Companies could pay to use Worldcoin's digital identity system, enabling secure and privacy-conscious applications. This technology's various potential use cases highlight the need for a global identity and financial public network. Worldcoin's website outlines potential applications for its technology, such as distinguishing between humans and artificial intelligence, facilitating global democratic processes, and paving a path toward universal basic income. However, the realization of these outcomes is not guaranteed. Privacy Concerns Despite Worldcoin's claims of being "completely private," regulators and privacy advocates remain concerned about the data collection practices. The Bavarian State Office for Data Protection Supervision initiated an investigation in November 2022 due to concerns about the large-scale processing of sensitive data. French regulator CNIL is also investigating Worldcoin. Furthermore, it has been suspended by the Kenyan government, citing privacy and security concerns. Despite concerns from privacy campaigners, Worldcoin claims that 2.2 million users have signed up, with data watchdogs in Britain, France, and Germany investigating the project. Worldcoin Commits To Privacy Compliance The Worldcoin Foundation, based in the Cayman Islands, asserts its compliance with all laws governing personal data and pledges cooperation with regulatory bodies to address privacy and data protection concerns. Worldcoin's future remains uncertain as it navigates regulatory scrutiny and addresses privacy concerns. However, with its ambitious expansion plans and potential applications, the company continues to be a notable player in the evolving landscape of digital identity and cryptocurrency. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Identity and financial public network, Worldcoin has revealed plans to allow companies and governments everywhere to use its ID system. Worldcoin Growing Worldwide According to Ricardo Macieira, the general manager for Europe at Tools For Humanity (the San Francisco and Berlin-based company behind Worldcoin), the company will allow more users worldwide to sign up for its ID system. The company requires users to provide iris scans to obtain a digital ID and, in some regions, receive free cryptocurrency. It will also allow other organizations and governments worldwide to use its iris-scanning and identity-verifying technology. With a recent funding round that raised $115 million from venture capital investors like Blockchain Capital, a16z crypto, Bain Capital Crypto, and Distributed Global, Worldcoin plans to continue its expansion into Europe, Latin America, Africa, and other receptive regions. Enabling Third-Party Use In the future, Worldcoin intends to open-source the technology behind its iris-scanning orb, allowing others to benefit. Companies could pay to use Worldcoin's digital identity system, enabling secure and privacy-conscious applications. This technology's various potential use cases highlight the need for a global identity and financial public network. Worldcoin's website outlines potential applications for its technology, such as distinguishing between humans and artificial intelligence, facilitating global democratic processes, and paving a path toward universal basic income. However, the realization of these outcomes is not guaranteed. Privacy Concerns Despite Worldcoin's claims of being "completely private," regulators and privacy advocates remain concerned about the data collection practices. The Bavarian State Office for Data Protection Supervision initiated an investigation in November 2022 due to concerns about the large-scale processing of sensitive data. French regulator CNIL is also investigating Worldcoin. Furthermore, it has been suspended by the Kenyan government, citing privacy and security concerns. Despite concerns from privacy campaigners, Worldcoin claims that 2.2 million users have signed up, with data watchdogs in Britain, France, and Germany investigating the project. Worldcoin Commits To Privacy Compliance The Worldcoin Foundation, based in the Cayman Islands, asserts its compliance with all laws governing personal data and pledges cooperation with regulatory bodies to address privacy and data protection concerns. Worldcoin's future remains uncertain as it navigates regulatory scrutiny and addresses privacy concerns. However, with its ambitious expansion plans and potential applications, the company continues to be a notable player in the evolving landscape of digital identity and cryptocurrency. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Worldcoin, a new crypto project offering digital IDs via iris-scanning, has been suspended by the Kenyan government over privacy and security concerns. Kenyan Government Suspends Worldcoin’s Activities Only 10 days after the official launch of Worldcoin, the project has already been suspended in one of the few countries where the company’s iris-scanning device Orb was available. Kenya was one of the first countries to open registration for World ID back in 2021. It is also reportedly one of the regions that got the highest number of sign ups. Initially, Worldcoin listed around 18 Orb-locations that would open in Kenya but in the end left only one – Kenyatta International Convention Centre. Tens of thousands of Kenyans flocked to the Orb to get their iris scanned and receive the World ID. They may have also been motivated to undergo the procedure by the 25 WLD (equivalent to around 7,000 shillings) Worldcoin promised to give everyone for the identity verification. However, despite the platform's high demand in the country, the Kenyan government decided to suspend all Worldcoin’ activities on Wednesday, August 2. The Ministry of Interior and National Administration of Kenya reported that relevant agencies need to “certify the absence of risks to the general public whatsoever”. "Relevant security, financial services and data protection agencies have commenced inquiries and investigations to establish the authenticity and legality of the aforesaid activities, and the safety and protection of the data being harvested, and how the harvesters intend to use the data,” Kithure Kindiki, Kenya’s Cabinet Secretary for the Ministry of Interior and National Administration, said in the statement. Worldcoin officials haven’t yet commented on the news. Worldcoin Continues to Face Backlash The controversial crypto project has been heavily criticized after its launch and received both applause and judgment. Even though only Kenya has officially suspended Worldcoin’s services so far, the company has been under scrutiny from a number of other countries, especially in Europe. France and the UK have recently reported that their privacy watchdogs are investigating the project to verify the security of the data it collects. On the day of the Worldcoin’s launch, Ethereum co-founder Vitalik Buterin has also published a long essay about Worldcoin in particular and the biometric proof of personhood in general. He listed four major risks with the project’s system related to privacy of the collected data and accessibility of the Orb device. WLD Token Gains 7% in the Last 24 Hours The Worldcoin token has shown growth in the past week, gaining about 7% just in the last 24 hours, according to CoinMarketCap. However, WLD still struggles to return to its $3.1 mark it reached on the day of its release. The token is hovering at $2.44 at the time of writing. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

2023 has brought forth a promising array of young projects that are capturing the attention of enthusiasts and investors alike. These breakthrough initiatives encompass a diverse range of areas, offering innovative solutions to some of the most pressing challenges faced in the virtual space. From an innovative social media gamified approach and decentralized personal identification system to advanced infrastructure solutions for seamless interaction with the blockchain, these projects are paving the way for a more accessible, secure, and interconnected crypto ecosystem. As the world continues to embrace the potential of blockchain technology and cryptocurrencies, these five projects stand out for their ambitious visions and disruptive approaches. With a shared commitment to pushing the boundaries of what's possible, they hold the potential to redefine how we engage with the digital realm and leverage the power of decentralized networks. In this exploration of the most noteworthy young projects in the crypto industry for 2023, we delve into the cutting-edge innovations that are shaping the future of finance, identity management, and decentralized applications. Cheelee Cheelee, a Web3 GameFi short video platform that rewards users for watching the feed, changes the way people make money on social media. Cheelee uses the Attention Economy concept to give everyone a new way of earning an income and a living wage, regardless of age, occupation, or socioeconomic background, and has the potential to redefine the social media industry while helping solve the problem of job automation by AI. "Cheelee is a game-changing Web3 GameFi short video platform that reshapes the landscape of social media platforms and rebalances the power which was earlier concentrated in the hands of platform owners, bloggers and advertisers. Our platform is not just about watching short videos; it's about empowering users to become more active in their virtual journey," CPO Cheelee Yury Kardonov explains. To inspire new users to learn its money-making mechanisms, the app gives them a free pair of Starting Digital glasses. Users that upgrade these glasses can increase their initial investment by more than X2. Cheeleers manage to earn up to several thousand dollars monthly with this tool, as seen from their reports on the platform's socials. Cheelee is going to blow up in 2023 with its governance token, $CHEEL, which has been steadily increasing in value and shows great promise because of its limited supply, high utility, and possible access to almost 5 billion social media users around the world. Cheeleeis already available on App Store and Google Play. WorldCoin Meet Worldcoin, a unique cryptocurrency project with a mission to verify people's identities online and combat the problem of bots and fake virtual profiles created by AI. Their special system, Proof-of-Personhood, works by scanning your eyes to ensure you are who you claim to be, preventing multiple accounts and stopping fraud. "A very central one is, how can you prove that you are a real human (not a bot) and have not yet claimed your free share of the currency, without revealing personal information about yourself like your name or email. Making this work in a scalable and fraud-proof way is hard," explains Alex Blania, co-founder of Worldcoin and Chief Executive Officer (CEO) of the project. Founded in 2019 by Sam Altman (CEO of OpenAI), Max Novendstern, and Alex Blania, and supported by venture capital firm Andreessen Horowitz, Worldcoin uses a distribution method similar to universal basic income (UBI) to encourage users to join their network. They offer their cryptocurrency as a reward to users who get their iris scanned using Worldcoin's orb-shaped iris scanner. Worldcoin has been highly successful in raising funds, starting with $25 million in October 2021 and an additional $100 million in just six months, boosting the token's value to an impressive $3 billion. And they didn't stop there, announcing another $115 million in funding in May 2023. As of January 2023, Worldcoin celebrated reaching 1 million sign-ups, with more than 115,000 new users in December 2022 alone. Their user base is diverse, coming from various countries like Argentina, Chile, India, Kenya, Portugal, Spain, and Uganda. By July 2023, they expanded to over 2 million users, and their World App is rocking with over 500,000 monthly active users. Arkham Intelligence Introducing Arkham Intelligence, a company focused on blockchain intelligence. Their platform is designed to reveal information about the real-world entities and individuals connected to cryptocurrencies, giving valuable insights into the cryptocurrency ecosystem. The goal is to remove anonymity from the blockchain and shed light on the identities behind cryptocurrency transactions. "Our industry has been plagued with bad actors who survive by hiding in the shadows. Crypto intelligence brings them into the light, and that’s what our platform and our research have always done," Arkham CEO Miguel Morel tweeted. In July 2023, Arkham Intelligence launched a bounty marketplace, enabling people to buy and sell on-chain cryptocurrency data. To facilitate these trades, they introduced the ARKM token as the main currency on the Arkham Intelligence exchange. Currently, as of July 2023, the ARKM token is being traded at $0.75 with a market cap of $113 million. For example, two savvy users of the Arkham platform recently earned a substantial reward of nearly $6,000 for successfully uncovering Do Kwon's wallet. The initial request to track the wallets of the former head of Terraform Labs was placed on the on-chain data marketplace, Arkham Intel Exchange. Two online detectives took up the challenge and accomplished the bounty hunt with great success, providing evidence that several addresses indeed belong to the businessman. As a result, they were rewarded with 9519 ARKM tokens, equivalent to approximately $5971. Fetch.ai Fetch.ai is an open-source machine learning platform, decentralized and based on a distributed ledger. It offers secure access to AI for smart and autonomous services. They've also made Agentverse, a web3 virtual hub, letting users create autonomous agents easily, no matter their technical skills. The platform's smart ledger combines blockchain with direct acrylic graph (DAG) tech. Transactions can be assigned to different routes, forming a fragmented network. New routes can be created if existing ones get overloaded. Fetch.ai uses UPoW (useful proof-of-work/proof-of-beneficial work), a mix of proof-of-work, proof-of-stake, and other mechanisms. FET is the primary value exchange on Fetch.ai. It's essential for network exchanges, staking, and rewarding node operators. FET unlocks various operations on the network and acts as the main payment method. It's also needed to find, create, deploy, and train autonomous economic agents. Fetch.ai's disruptive nature stems from its ability to challenge the status quo in machine learning, blockchain technology, and decentralized applications, offering new solutions and possibilities that can potentially reshape industries and user experiences. Arbitrum Arbitrum, developed by Offchain Labs in 2018, is a Layer 2 scaling solution for Ethereum. Its purpose is to address the Ethereum network's limitations, like slow transaction speeds and high fees during busy times. By reducing work and data storage on Ethereum's mainnet(Layer 1 or L1), Arbitrum aims to decrease network congestion and transaction costs, enhancing the speed and scalability of Ethereum smart contracts. "Our mission at Arbitrum is to scale Ethereum without compromising on security. Notice that we're focused on the result, not the tool. On the end, not the means," wrote Steven Goldfeder, co-founder and CEO of Offchain Labs. Arbitrum enables users to perform transactions off the main network, which are later verified and grouped before being added to the main chain. This process helps ease congestion and lower gas fees on Ethereum, benefiting decentralized finance (DeFi) projects like Sushiswapand Aave, which utilize Arbitrum to offer efficient swaps with lower gas fees. The platform supports the Ethereum Virtual Machine (EVM), allowing seamless integration with existing Ethereum tools and infrastructure for DeFi developers. To gain exposure to the Arbitrum network, individuals can consider the governance token, ARB. Holders of ARB tokens can participate in the protocol's decision-making processes, including proposing and voting on upgrades or changes. Additionally, ARB tokens are used to pay for transaction fees on the Arbitrum network. Despite being launched in March 2023, the ARB token has already reached a market capitalization of over one billion dollars. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Kenyan authorities want to make sure that Worldcoin poses no risks to the security of citizens before it allows the project to gather iris data.

The Worldcoin launch has sparked a new debate on the future of decentralized identity, artificial intelligence and whether iris-scanning is the only way forward.

Authorities in the United Kingdom and France have also reportedly cited concerns over Worldcoin's data collection methods, which involve collecting iris scans from users.

In the wake of Worldcoin's recent launch, the project's biometric data collection process has come under the scrutiny of France's privacy watchdog, CNIL. The innovative crypto project, led by ChatGPT-founder Sam Altman, requires users to provide iris scans in exchange for a unique digital ID and, in certain countries, free cryptocurrency. According to a breaking report from Reuters, CNIL has expressed concerns over the legality of this process, particularly the conditions for storing biometric data. The crypto firm had also been recently under the eye of UK's data watchdogs, a few weeks after it disclosed collaboration with Auth0 in Berlin. Worldcoin's Approach to User Identity: A Double-Edged Sword? Worldcoin, which boasts 2.1 million users predominantly from a two-year trial period, operates a global network of 'orbs,' shiny spherical devices capable of scanning users' irises. Despite this novel approach to establishing user identity, or "proof of personhood," the project's method has been perceived as questionable, leading to an investigation by Britain's data regulator this week. CNIL, in response to a Reuters query on Worldcoin, stated that "The legality of this collection seems questionable, as do the conditions for storing biometric data." Further, CNIL's investigations indicated that jurisdiction over the project lies with the Bavarian state authority in Germany, now conducting the investigation with CNIL's support. Worldcoin Foundation's Stance on Privacy Concerns In response to these legal concerns, the Worldcoin Foundation, a Cayman Islands-based entity and self-proclaimed "steward of the Worldcoin protocol," maintains that its project is designed to protect individual privacy. The foundation also claims to have built a robust privacy program and is committed to meeting regulatory requirements. "The Worldcoin Foundation complies with all laws and regulations governing the processing of personal data in the markets where Worldcoin is available," the foundation said in an email. Notably, the regulator sspecified that the project is supervised in the European Union by the Bavarian State Office for Data Protection Supervision and will continue to cooperate with governing bodies on requests for more information about its privacy and data protection practices. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

No crypto project since Facebook's Libra has generated such hue and cry from within the crypto community. Is it right to be concerned by Sam Altman's iris-scanning uber-ambitious UBI project?

Following the launch of the highly anticipated Worldcoin project on Monday, Hong Kong witnessed hundreds of sign ups, but the WLD token slightly pulled back. How Worldcoin Kicked Off On July 24, a digital identity verification provider called Worldcoin officially started the rollout of its services. The launch of the project was long-awaited in the crypto community and has been talked about since 2021. Worldcoin was co-founded by ChatGPT creator Sam Altman and aims at using the blockchain technology to tackle some AI-related issues. The main platform’s product is World ID, sort of a “digital passport” that can prove that a user online is a real person and not a bot. To get a World ID, one needs to have their iris scanned by a company’s device called Orb at one of the offered locations. So far, Worldcoin made their Orbs available in 35 cities across 20 different countries, with 124 open locations in total. According to the data of the first project’s day, the largest number of people visiting Orbs was registered in Hong Kong. It was reported that around 600 people visited Orbs (200 per one of the three locations) in Hong Kong on Monday, with at least another 500 showing up on Tuesday. Heatherm Huang, co-founder of the Measurable Data Token blockchain firm, one of the three Orb operators in Hong Kong, said that nearly half of the total sign-ups for Worldcoin on Monday was recorded in Hong Kong. That means that around 1,000 people in total had their iris scanned by an Orb on the Worldcoin’s launch day. Compared to the number of 2 million pre-signups for World ID which was achieved on July 13, 1,000 Orb visits on the opening day doesn’t seem like a lot, although it might be too early to draw any conclusions. To encourage more users to register for World ID, the company even promised to give away 25 WLD (equivalent to around 60 USD at the time of writing) to anyone who visits an Orb. So, after getting their iris scanned, one can get both a World ID and 25 WLD in their World App wallet. Worldcoin Faces Criticism Despite all the perks and seemingly good intentions behind the project, Worldcoin has received its share of backlash lately. Many have expressed their concerns over the level of privacy and security World ID can offer. Ethereum co-founder Vitalik Buterin named four main risks related to the Worldcoin’s system, while the UK watchdogs said they would be “making further enquiries” regarding the project. WLD Awaits a Catalyst to Gain Value The WLD token started off at a price of $3.3 on Monday, dropped to $2.1 on the next day, and still hasn’t grown much since then. It looks like the coin needs a push to surpass its $3 mark again. WLD is currently trading at $2.33 according to CoinMarketCap. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The controversial crypto project’s new sign-ups have dwindled and numbers pale in comparison to the 2 million sign-ups before the launch of the project.

Worldcoin has a "high probability of failure," according to Slow Mist's founder.

Worldcoin, the high-tech cryptocurrency initiative supported by Sam Altman, might soon find itself under the scrutiny of data protection regulators in the UK. The development comes in the wake of Worldcoin's global debut on Monday. The Information Commissioner’s Office, responsible for upholding information rights and data privacy in the UK, conveyed to Reuters: "We are aware of Worldcoin's launch in the UK and will be making further enquiries." Worldcoin's distinctiveness lies in its innovative, orb-shaped cameras, or 'orb stations', which capture iris images to distinguish humans from AI online. Worldcoin assures users that this process maintains their privacy. As a trade-off for their biometric data, users receive a unique 'WorldID' and the native Worldcoin cryptocurrency at no charge. Worldcoin's Market Debut and Regulatory Challenges Renowned crypto platforms such as Binance, Huobi, and OKX have included Worldcoin (WLD) in their listings. On its launch day, WLD surged to a peak of $3.30. However, the initial euphoria proved short-lived as the token dipped more than 35%, dropping to $2.10 the following day. Despite launching in 35 cities across 20 countries on Monday, Worldcoin chose to steer clear of the US due to regulatory uncertainties and potential misuse of cryptocurrencies. In response to its digital ID and cryptocurrency's availability, Worldcoin expressed optimism, stating, "We hope that in regions with unclear regulations, like the US, measures will be taken so more people can benefit." Co-founder Alex Blania, in an interview with Bankless, mentioned that the specifics of the token's distribution remain undisclosed due to potential legal challenges in the US. He stated, "Many details can't be discussed here because of regulatory uncertainty in the United States." Worldcoin's Crypto Vision At the helm of Worldcoin are OpenAI CEO Sam Altman and Alex Blania, who have been nurturing the project for over three years. The fundamental premise behind Worldcoin is to provide a viable means of verifying human identity online while preserving users' privacy. This need has been accentuated by the rapid evolution of AI technology, sparking concerns about its potential to replace human jobs and blur the distinction between humans and AI bots on the internet. Worldcoin offers a unique digital proof of personhood, known as World ID. Users obtain a World ID through an innovative biometric verification device called an Orb. The Orb scans users' irises, providing a biometric confirmation of their human identity. Universal Basic Income and Beyond Notably, Worldcoin has also disclosed its plans for establishing what's been dubbed as the Universal Basic Income (UBI) service, funded by its AI efforts. The service, where permitted by local laws, will allow users to receive Worldcoin's digital currency (WLD) merely for their verified human status. It's evident that Worldcoin's roll-out has generated ample interest in the crypto world, with personalities like Vitalik Buterin weighing in on its biometric proof of personhood concept. Privacy Concerns and Regulatory Challenges This ambitious venture intertwines the realms of biotechnology, AI, and cryptocurrency in a bid to tackle some of society's pressing issues. On the outset, however, Worldcoin will undoubtedly have to address potential concerns around privacy, security, and regulatory compliance to gain widespread acceptance. Worldcoin's innovative approach, which fuses biometric data with cryptocurrency distribution, has attracted both attention and scrutiny. The project now faces the challenging task of assuaging data privacy concerns while navigating the complex regulatory landscape across different countries. How it manages these challenges could set precedents for the fusion of biotechnology and cryptocurrencies in the future. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Sam Altman’s identity-verifying Worldcoin Orb is available worldwide as the network launched on Monday.