The Office of Data Protection Commissioner (ODPC) has cautioned Kenyans against Worldcoin, the new cryptocurrency offering free tokens for eyeball scanning, to verify their humanity.
“It is the responsibility of data controllers to ensure that personal data is processed in accordance with the Data Protection Act. Failure to do so not only puts individuals’ privacy at risk but also exposes an organization to legal and reputational consequences,” Data Commissioner Immaculate Kassait said.
Worldcoin’s goal, co-founded by Sam Altman, the Chief Executive Officer (CEO) of OpenAI, the developer of ChatGPT, is to provide every individual on earth with access to the global economy through a verified digital identity, free cryptocurrency tokens, and a crypto wallet.
The concept is aimed at inclusivity and accessibility, regardless of socio-economic status or traditional banking access.
However, concerns have arisen about the security and usage of sensitive personal data, especially the iris scans required for verification.
Worldcoin founders acknowledge the uncertainty surrounding their venture, and the ODPC has cautioned Kenyans against sharing their sensitive data without proper information on how it will be used further stating it will conduct an assessment of firm’s practises to ensure compliance with the law.
Launched on July 24, Worldcoin rewards users with WLD tokens after they verify their humanity by scanning their eyeballs at designated locations in 35 countries, including Kenya, according to reports.
“These tokens can then be transferred to official crypto exchanges like Binance, allowing users to buy other cryptocurrencies that can be cashed out or sold for profit. The initial 25 free WLD tokens are currently valued at approximately Sh7,786,” Daily Nation reported.
Excited by the prospect of free money, Kenyans have already earned significant amounts by signing up and scanning their irises with some using the free tokens to purchase USDT, which they later convert into Kenyan shillings.
“Hundreds of Kenyans flocked Quickmart outlets in Nairobi, where the Orbs – the eye scanning machines – were stationed. Young people, especially, have been patiently waiting to get their iris scanned, hoping to claim the promised free tokens after hearing about it on social media platforms like TikTok and Instagram.”
While Worldcoin’s vision of a global financial and identity network based on proof of personhood seems promising, the potential risks and implications warrant careful consideration before participating in this new cryptocurrency venture.