Bittime - Sam Altman and Alex Blania, the main minds behind the Worldcoin project, recently met with Malaysian leaders. The goal is to improve relations with the government while demonstrating their commitment to protecting user data and privacy.
Blania, CEO and co-founder of Tools of Humanity, the main developer of Worldcoin, met with representatives of the Malaysian Digital Ministry last Tuesday.
"(We) met with Nordstar and their impressive portfolio companies, including... Worldcoin," Malaysia Digital Economy Corporation wrote in a post. They also shared photos of the meeting attended by Blania.
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This meeting took place after Blania and Altman, who is also one of the founders of Tools of Humanity, had a video call with the Prime Minister of Malaysia, Anwar Ibrahim, last Friday. Blania then re-shared Ibrahim's upload on Tuesday as a thank you.
Also read: The Conspiracy Behind Worldcoin: Myths and Facts
This meeting between Worldcoin representatives and Malaysian officials signals their efforts to show seriousness in addressing data collection and privacy issues. Worldcoin also wants to work more closely with regulators and governments.
Why is Worldcoin being monitored?
Last month, Worldcoin was temporarily banned in Spain and Portugal. This is because both countries ordered the project to stop collecting users' personal data.
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Worldcoin offers crypto assets, in the form of WLD tokens, to users who are willing to scan their irises to create a World ID. Iris scanning and how Worldcoin will manage this biometric data is a major concern for privacy activists.
Worldcoin's problems in Spain and Portugal are nothing new. After they started offering WLD tokens to new users, many of whom came from developing countries, Worldcoin came under scrutiny by regulators in several countries including Germany, France, Argentina, and Kenya.
Also read: Crypto Today: Worldcoin (WLD) Launches World Chain Later This Year!
Early last month, South Korea also announced an investigation into the project's collection of sensitive information.
One of the big reasons why Worldcoin's troubles are in the spotlight is because of Altman's closeness to the project. Altman was previously known as the CEO of OpenAI, developer of the renowned artificial intelligence (AI) platform, ChatGPT.
An internal Worldcoin source said he was surprised by the amount of government attention that came from the start. They feel unprepared for the high level of interest and scrutiny.
However, top government officials still expressed interest in talking to Worldcoin amid growing curiosity and concerns around artificial intelligence, including threats such as deepfakes.
Earlier this year, Tools of Humanity took steps to strengthen ties with the government. They appointed former US Ambassador to Austria, Trevor Traina, as head of global affairs.
"Policymakers understandably have a lot of questions," Traina said in a blog announcement.
"They expect us as Worldcoin contributors to ensure the project runs safely according to its mission, and our job at TFH is to ensure those expectations are met."
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In March, Worldcoin launched “Personal Custody,” a new initiative that allows new World ID users to opt-out of storing and encrypting their biometric data.
Tools of Humanity Head of Product, Tiago Sada, said this step should provide peace of mind for users. Check Crypto Prices Today:
A few weeks later, the project stated that people who had registered for World ID could ask Worldcoin to permanently delete the numeric "iris code" created when their eyes were scanned.
The project also said it would take age verification more seriously to prevent people under 18 from registering.
The measures were "developed in consultation with third-party privacy and security experts, and based on preliminary assessments and questions raised by data protection authorities in some places where Worldcoin is available," the project said at the time.
According to their website, Worldcoin has issued over five million World IDs.
How to Buy Worldcoin (WLD) on Bittime
You can buy and sell Worldcoin (WLD) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Worldcoin (WLD) is available on Bittime with the market pair WLD/IDR. To be able to buy WLD IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Worldcoin (WLD) on Bittime.
Monitor price chart movements of Worldcoin (WLD), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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Worldcoin Soars 140%, Reaches 1 Million Users Despite Controversy
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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