Kenya Halts Worldcoin Project: Government Seeks Assurances of Security
• Kenyan authorities have suspended the activities of Worldcoin until they can certify the absence of risks to Kenyans.
• Worldcoin is a cryptocurrency and digital identity project that was officially launched on July 24, 2023 after three years of development.
• The project involves collecting crucial identification information like iris scans in exchange for a digital ID.
Worldcoin Project Suspended In Kenya
Kenyan authorities have halted all local activity associated with Worldcoin, a new cryptocurrency and digital identity project, until relevant public agencies can certify the absence of risks to Kenyans. Kenya’s Minister of Internal Security, Kithure Kindiki, stated that appropriate action will be taken on any natural or juristic person who furthers, aids, abets or otherwise engages in or is connected with these activities.
About Worldcoin
Worldcoin was co-founded by Sam Altman, CEO of OpenAI which is behind the popular artificial intelligence (AI) based chatbot ChatGPT. The mission builds on expectations that it will become too difficult to differentiate between humans and online bots as AI technology grows. To differentiate humans from AI, the startup created a digital ID system based on proof-of-personhood which requires scanning an individual’s iris in exchange for a digital ID.
Government Concerns
The government’s main concern with this project is collecting vital identification information like iris scans as part of their verification process. As such they are taking appropriate steps to ensure its authenticity and legality before allowing it to proceed further in Kenya.
Tokenizing Music Royalties
It has been suggested that tokenizing music royalties could help benefit upcoming musicians such as Taylor Swift in terms of earning potential through their music careers by providing them with financial security through blockchain technology and non-fungible tokens (NFT). This could be beneficial not only for upcoming musicians but also for established ones as well who may wish to take advantage of this technology due to its potential return rate over traditional investments such as stocks or bonds etc…
Conclusion
In conclusion, while Kenyan authorities are currently investigating the legality and authenticity of WorldCoin’s activities within their jurisdiction we can see how blockchain technologies like NFTs could potentially revolutionize existing industries such as music entertainment by providing more options for artists to monetize their work going forward even if they don’t necessarily have major label backing or access to major radio playlists etc…