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Home»Business»Crypto
Crypto

Worldcoin Operator to Expand in Mexico Despite Potential Investigation

May 1, 2024No Comments3 Mins Read
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Worldcoin operator Tools for Humanity is expanding its services in Mexico, despite calls for a government probe into its iris-scanning drive. The company has opened iris-scanning centers in Mexico City, Guadalajara, and Monterrey, with a total of nine regional centers in Mexico. The project has seen success in Argentina as well, with an investigation launched by the nation’s data protection agency. Worldcoin also operates 21 data collection centers in Chile, making it the third-largest base for the project in the Latin America region.

However, Mexican lawmakers have expressed concerns about the project. María Eugenia Hernández, an MP for the ruling Morena party, called on the National Institute of Transparency, Access to Information and Protection of Personal Data (INAI) to take action. She raised concerns about citizens’ data falling into the wrong hands and stressed the importance of establishing clear rules for data use and exploitation. Hernández urged INAI to verify the safety of Mexicans handing over their biometric data in exchange for cryptocurrency tokens.

Tools for Humanity has been operating in Mexico since July 2023, under the pretext of creating a financial and identity network. Hernández also pointed out that Spain cited privacy concerns and data protection as reasons for temporarily banning Worldcoin iris scanning. Despite its popularity in Latin America, Worldcoin has faced pushback in some regions. Officials in Buenos Aires warned of possible repercussions, including million-dollar fines, while Chilean government agents inspected three centers and requested additional information from the firm to ensure compliance with national regulations.

Investigations related to Worldcoin are ongoing in various countries around the world, including South Korea and Hong Kong. The firm had to suspend its orb verification service in India, Brazil, and France, and faced a temporary ban on iris scanning in Spain due to data and privacy concerns raised by the High Court. With expansions in Mexico and other Latin American countries, Worldcoin’s operations continue to attract scrutiny and challenges from lawmakers and government agencies concerned about data protection and privacy risks.

In light of these developments, the future of Worldcoin’s expansion in Mexico and the Latin America region remains uncertain, with the company facing legal hurdles and regulatory scrutiny in various countries. Worldcoin’s ambitions to create a global financial and identity network through iris scanning technology are met with skepticism and opposition from lawmakers and regulatory bodies. The outcomes of the ongoing investigations in Mexico and other countries will likely impact the company’s operations and prospects for further growth in the region and globally. As the debate over data privacy and biometric data protection continues to evolve, Worldcoin may need to address these concerns and adapt its business model to comply with regulatory requirements and ensure the trust and confidence of users and stakeholders.

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