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Home»Business»Crypto
Crypto

Experts Warn of Worldcoin Expansion Into Mexico

October 6, 2024No Comments2 Mins Read
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Worldcoin, the project’s operator Tools for Humanity, has expanded its services to Mexico, launching new World ID services and facilities in Puebla. It now has four centers in Puebla offering ID verification services to ensure users are over 18. The company aims to provide World IDs only to “unique human beings.” However, security and IT experts have raised concerns about Worldcoin’s operations in Mexico and LATAM due to regulatory issues. Evin McMullen, the co-founder and Chief Strategy Officer at Privado ID, emphasized that blockchain-powered identity systems can be developed differently, without compromising user privacy and security.

Security expert Carlos Tlahuel from the National Autonomous University of Mexico advised caution for citizens providing personal data to companies like Worldcoin. He urged people to question the necessity of providing biometric data and to be aware of how their data is being processed. He highlighted the importance of transparency in data collection practices and expressed concern over the potential misuse of personal data. Some experts believe that Worldcoin may have deliberately targeted growth in LATAM regions due to regulatory challenges in other parts of the world, such as the US and most of the EU, where more stringent data protection regulations exist.

Worldcoin has responded to criticisms by implementing ID verification solutions to prevent the collection of biometric data from minors in various LATAM locations. The lack of transparency surrounding the collection of biometric data has generated speculation and raised concerns among regulators and privacy advocates. News outlets in Mexico have reported that many people providing biometric data to Worldcoin are immigrants from neighboring countries like Colombia. Reports suggest that some immigrants have been exploited by third-party agents who collected their iris scans without providing the promised cryptoassets in return.

Despite the regulatory and privacy concerns, Worldcoin’s expansion in LATAM continues unabated. Tools for Humanity recently announced its expansion into Guatemala, indicating the project’s determination to establish a presence in the region. The company’s ability to grow and expand its services in the face of regulatory challenges highlights the demand and potential for blockchain-powered identity solutions in areas like Latin America. However, concerns persist about the handling of personal data and the need for greater transparency in data collection practices. Worldcoin’s actions in LATAM serve as a reminder of the importance of ensuring privacy and security in emerging technologies like blockchain and digital identities.

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