An eye-scanning biometric crypto project is plummeting after reportedly withdrawing from Brazil, France and India.
According to a new one report by TechCrunch, digital ID-focused crypto asset Worldcoin (WLD), co-founded by OpenAI CEO Sam Altman, is exiting the three countries just months after launching its Orb verification services.
Lily Gordon, a spokesperson for the company that oversees Worldcoin, told TechCrunch that 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 offers for verified 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.
In a follow-up email to TechCrunch, Gordon stated that Orb services will be “temporarily scaled back” in India and the other countries, although no exact reason was given.
However, 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 about 22%.
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Generated image: Midjourney