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Worldcoin to Expand Globally with Iris-Scanning and Identity-Verifying Technology, Raises Privacy Concerns

Worldcoin, a project co-founded by Sam Altman, plans to expand globally and offer its iris-scanning and identity-verifying technology to other organizations. Users provide iris scans in exchange for a digital ID and free cryptocurrency in some countries. The project has raised $115 million and has 2.2 million users globally, but is being investigated by data watchdogs in Britain, France, and Germany due to privacy concerns. Worldcoin aims to create an "identity and financial network" and enable "global democratic processes."

The Worldcoin Foundation, based in the Cayman Islands, has announced plans to launch a new cryptocurrency called Worldcoin to power the hypothetical next phase of the internet, Web3, based on blockchain technology. The company will comply with all laws governing personal data and cooperate with governing bodies' requests for information about its privacy and data protection practices. The launch of Worldcoin is expected to have a significant impact on finance and technology, including cryptocurrencies, NFTs, virtual worlds, and the money driving "Web3".

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