Worldcoin, the pioneering cryptocurrency project by the American artificial intelligence company, is currently engaged in discussions with the Kenyan government. The cryptocurrency venture, initially suspended in Kenya on August 2, has been navigating a path to recovery, especially considering the substantial adoption it experienced in Nairobi.
Insiders from the government, opting for anonymity, disclosed that a tentative agreement has been reached. This agreement paves the way for Worldcoin to recommence its activities, subject to adherence to a new set of guidelines. The source revealed, “Operations are set to resume in early 2024. Worldcoin is working directly with regulators to meet Kenya’s requirements, particularly as the Assembly considers new regulations. Stipends will remain and will expand to locations across the country.”
Worldcoin faced the suspension due to concerns about data security and privacy, particularly surrounding the extensive uptake of its services in Nairobi. The project involved scanning individuals’ eyeballs through an Orb in exchange for a digital identity called World ID.
Launched globally on June 24, Worldcoin initially encountered challenges regarding the security of biodata collected from Kenyans during its verification process. The Kenyan government, keen on ensuring compliance with the law, suspended all Worldcoin-related activities until concerns about potential security risks were addressed.
Alex Blania, Worldcoin’s CEO, had acknowledged the pause in World ID verifications in Kenya earlier and expressed optimism about resolving government concerns, paving the way for a potential return to operations in the country.
In September, Kenya’s Interior Cabinet Secretary, Kithure Kindiki, underscored the government’s commitment to a thorough forensic analysis of the hardware components used in data collection for the Worldcoin project.
Worldcoin has since undergone updates to World ID 2.0, implementing measures to distinguish between bots and verified humans online. The new version also introduces support for integrations with various platforms including Minecraft, Reddit, Telegram, Shopify, and Mercado Libre.
- Tags: Bitcoin, cryptocurrency, Kenya
