SEC Extends Deadline for Broker-Dealers to Meet Daily Reserve Rule
Worldcoin Faces Scrutiny Over Biometric Data Practices in South Korea
(Originally posted on : Crypto News – iGaming.org )
In South Korea, there is more attention being paid to the Worldcoin initiative, which uses biometric data for identification verification. An investigation into Worldcoin’s biometric data gathering methods in South Korea has been launched by the authorities of that nation.
The Personal Information Protection Commission has opened an inquiry into Worldcoin. The commission is in charge of overseeing data privacy regulations and making sure that data protection rules are followed. Ko Hak-soo, the organization’s chairman, received concerns about Worldcoin’s management of personal data, which led to this decision.
Deployment of Iris Scanning Devices
Worldcoin has deployed iris scanning devices, known as the Orb, in at least 10 locations across South Korea. These devices capture the iris scans of individuals, processing their identities and information to reward them with 25 WLD, the project’s cryptocurrency.
Iris scan photos are removed by Worldcoin upon verification, however users can choose to keep this data on the blockchain. The possible abuse or illegal access to private biometric data, however, continues to raise concerns.
Prompted by applicable regulations, the Personal Information Protection Commission has declared its intention to look into the gathering and handling of private data as well as the sending of this data abroad. The relevant measures will be implemented in accordance with the regulations if infractions are verified.
New players only. 250% on 1st Deposit + $125 Free Chip
As more countries look into Worldcoin’s data practices, South Korea is now one among them. Similar checks have been made to make sure local data protection rules are being followed by Argentina, Kenya, Hong Kong, France, and Bavaria.