Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Worldcoin Waves White Flag in Europe, Targets Asia Instead

Worldcoin Waves White Flag in Europe, Targets Asia Instead

DailyCoinDailyCoin2024/10/08 08:51
By:DailyCoin
This article was amended on October 8 at 08:00 BST to include a Worldcoin representative's comment.
  • Multiple jurisdictions are investigating Worldcoin.
  • Germany‘s data regulator is due to report its findings on Worldcoin.
  • Worldcoin announces focusing on Asia and Latin American markets.

Digital identity is becoming increasingly important as more services move online and AI deepfakes become increasingly sophisticated. Worldcoin’s World ID protocol offers proof of identity solutions via retinal or face-scanning technology, creating a mathematical representation of the individual’s biometric data.

Despite its global ambitions, Worldcoin recently announced a strategic pivot, shifting its focus away from Europe to prioritize expansion in Asia and Latin America markets.

Worldcoin Looks to Asia, LATAM

Worldcoin’s managing director, Fabian Bodensteiner, recently stated that European expansion is no longer a top priority for the company. Instead, the company will now focus its expansion efforts on Asian and Latin American markets.

Sponsored

Bodensteiner explained that “we’re not 1,000 employees” and must prioritize markets most open to emerging technologies with the biggest growth potential.

However, Bodensteiner emphasized that this shift doesn’t mean a full withdrawal from Europe. He clarified that Worldcoin aims to “stay in the conversation” and remain engaged with the European market despite the strategic pivot.

Worldcoin reached out to Dailycoin stating that the firm is devoted to its goal of proving humanness. The representative added that the company “remains committed to the European market as evidenced by recent launches in Austria and Poland and upcoming EU launches in the coming months.”

EU Net Closing?

Despite issuing over 6.6 million World IDs globally, Worldcoin continues to face mounting scrutiny from regulators, with concerns over its data practices growing.

Recent complaints from authorities in France, Germany, Portugal, and Spain were handed to Bavaria’s data protection authority, BayLDA, for investigation under General Data Protection Regulation (GDPR) rules.

A key issue for Worldcoin is its ability to comply with GDPR, particularly users’ right to delete personal data. The company’s future in the EU remains uncertain, and it has not been able to adapt its processes to accommodate deletion requests.

Although the BayLDA was initially expected to release the findings of its investigation in mid-July, that deadline has passed without an official report. The results of this investigation, however, are anticipated soon .

On the Flipside

  • Malaysia is integrating Worldcoin technology with its digital identity infrastructure.
  • Worldcoin‘s goal is to enable access to a global economy.
  • Worldcoin is not available in Africa .

Why This Matters

With Worldcoin quietly deprioritizing Europe before BayLDA’s verdict, the writing may be on the wall for blockchain biometric digital ID projects in the EU.

Worldcoin announces expanding into three new countries.
Worldcoin Expands World ID Availability to Fight AI Bots

Crypto firms spend a record amount on Premier League sponsorship.
Premier League Crypto Deals Surge 10X as Gambling Ban Looms

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Toncoin (TON) and Chainlink (LINK) show strong market positions, but Web3 ai’s AI-driven platform and sub-$0.001 price point may offer greater potential for exponential growth.Toncoin (TON): Leveraging Telegram’s Ecosystem for GrowthChainlink (LINK): Technical Indicators Point to Potential BreakoutWeb3 ai: Affordable Entry with AI-Driven Security ToolsClosing Thought

Coinomedia2025/05/24 23:40
Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Ethereum Set to Soar Past $4,000 Again

Ethereum eyes a comeback above $4,000 with a projected 55% surge amid rising market optimism.What’s Driving the Ethereum Rally?Could Ethereum Break Past Its All-Time High?

Coinomedia2025/05/24 23:40
Ethereum Set to Soar Past $4,000 Again

Lark Davis: Best Time to Make Money in Crypto

Crypto analyst Lark Davis says this is the best time to make money in crypto. Here’s why you should pay attention now.Why This Window Matters So MuchHow to Lock In for Maximum Gains

Coinomedia2025/05/24 23:40
Lark Davis: Best Time to Make Money in Crypto

Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift

Explore the top rated cryptos to buy in 2025, featuring BlockDAG’s limited-time 'Double Your BDAG' offer, and why Tron, Polygon, and Polkadot are gaining strong attention this year1. BlockDAG (BDAG)2. Tron (TRX)3. Polygon (MATIC)4. Polkadot (DOT)Closing View on Key 2025 Contenders

Coinomedia2025/05/24 23:40
Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift