Sam Altman’s Worldcoin is a cryptocurrency project that prioritises privacy and security by linking digital assets to real-world identities. The Kenyan market has been crucial to the success of a new cryptocurrency called WLD, which is exchanged for iris scans performed in sphere-shaped machines, media reports said.
A Worldcoin Foundation spokesperson claimed that in Kenya, tens of thousands of people waited in queue for two days to be verified and get a World ID. As a safety precaution, the project has suspended verification.
In order to better understand the Worldcoin privacy safeguards and guarantees, the team will be working with local authorities in Kenya to build an onboarding plan with tighter crowd control mechanisms during this time off.
According to reports from the local media, the Kenyatta International Convention Centre in Nairobi had massive lines of individuals eager to register for the initiative. Over a quarter of a million Nairobians will have signed up for Worldcoin by the end of 2022.
According to a company executive, the Kenyan office of Worldcoin has not abandoned aspirations to commence operations. They promised to work with authorities and other interested parties to ensure the procedure went smoothly and safely.
Though Worldcoin is not yet accessible in Kenya, the company’s attempts to get into the country’s market show the promise of identity-focused cryptocurrencies in rapidly developing economies like Kenya’s. Growing need for identity verification and digital transaction platforms like blockchain is reflected in the project’s popularity.
