Worldcoin, a crypto startup, has temporarily suspended its operations in Nairobi CBD on August 1 due to disturbances. Despite this setback, thousands of Kenyans have been enthusiastically participating in the Worldcoin cryptocurrency trade at the Kenyatta International Convention Centre (KICC) in Nairobi.
The crypto technology at the heart of Worldcoin involves scanning one’s iris in exchange for cash, and it has gained significant popularity in Kenya. On Tuesday, long queues were witnessed leading to KICC, stretching all the way to City Hall, as people eagerly signed up for the trade.
Upon scanning their eyeballs, participants are rewarded with free tokens known as WLD. Remarkably, WLD 25 tokens translate to Ksh. 7786, which further incentivizes Kenyans to take part in the trade.
Despite the increasing interest, the Office of Data Protection Commissioner (ODPC) has cautioned against potential risks associated with Worldcoin’s data processing practices. Data Commissioner Immaculate Kassait has called for heightened vigilance among users when signing up for Worldcoin. The ODPC is aware that Worldcoin processes sensitive personal data and expects the company to demonstrate proper safeguards under the Data Protection Act of 2019.
To address privacy concerns, Worldcoin, a project initiated by OpenAI CEO Sam Altman, claims on its website that the project is “completely private.” The company assures that data is either deleted or users can choose to have it stored in encrypted form.
In light of the criticism and data protection scrutiny, the commission is actively assessing Worldcoin’s practices to ensure they comply with the law. Despite the controversy, Kenyans remain undeterred and continue to participate in the cryptocurrency trade, intrigued by the innovative technology and potential financial rewards.
