An eye-scanning biometric crypto project is plummeting after reportedly pulling out of Brazil, France, and India.
According to a new report by TechCrunch, digital ID-focused crypto asset Worldcoin (WLD), co-founded by OpenAI chief executive Sam Altman, is leaving the three nations just months after launching its Orb verification services.
Lily Gordon, a spokesperson for the firm that oversees Worldcoin, told TechCrunch that the protocol remains dedicated to “working with partners globally to ensure it meets regulatory requirements and provides a safe, secure and transparent service for verified humans.”
Worldcoin’s Orb is a helmet-shaped peripheral that scans people’s eyes to verify their identity. To use it, traders must first download the Worldcoin app, obtain a compatible crypto wallet, and then visit an Orb to receive their identification, or World ID.
In a follow-up email to TechCrunch, Gordon stated that the Orb services will be “temporarily scaled back” in India and the other countries, though no exact reason was specified.
However, according to TechCrunch, Worldcoin still plans to onboard people in India and recently went through an update, allowing it to differentiate between bots and humans and integrate user World IDs into marquee protocols such as Minecraft, Reddit, and Telegram.
The project’s native altcoin WLD plunged from its all-time high price of $4.73 on December 17th to trading for $3.59 at time of writing, a decrease of about 22%.
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The post Worldcoin Plunges Over 20% in Days As the Crypto Project Retreats From Brazil, France and India: Report appeared first on The Daily Hodl.