2023-11-04 09:13:18
World App’s crypto wallet has achieved a major milestone despite international regulatory scrutiny. If the numbers are real, the project started by Sam Altman can take a prominent place among crypto wallets. Launched just six months ago, the World App now boasts more than one million monthly active users. With this achievement, OpenAi CEO Sam Altman’s project has become one of the top crypto wallets in the industry. According to data from Tools for Humanity, the application boasts more than 500,000 weekly active users and 100,000 daily active users, Worldcoin’s lead developer said. Overall, the World App exceeded 4 million downloads, making it the sixth most popular self-custody crypto wallet according to CoinGecko’s ranking. World App now has more than 1 million monthly active users, 4 million downloads and 22 million transactions. Not bad for six months ???? pic.twitter.com/pagXxTfc8E — Tools For Humanity (@tfh_technology) November 1, 2023 These milestones have been achieved by Worldcoin amid increasing government scrutiny. It has grown in popularity in countries such as the United Kingdom, France, Germany and Argentina. The government scrutiny comes over the company’s data collection practices amid concerns regarding its devices that allow users to scan their eyes to verify identity. Problems with Biometric Security The World App starts with World ID, which is designed to verify identity with the help of artificial intelligence without sharing personal data. Worldcoin allows users to prove they are not bots by scanning their eyes. If the user passes the verification, they will receive 25 WLD tokens, which is worth regarding $43 at the time of writing. However, the company received a lot of criticism because the system might allegedly endanger the proper data protection of users. Critics claim that the system is too centralized, which threatens to leak data. Worldcoin has denied the allegations. It claims to delete or securely store biometric data in encrypted form, but nevertheless promises to cooperate with regulators. The Worldcoin project aims for simplicity and inclusivity. Amidst the rapid success, according to Tiago Sada, one of the leaders of TFH, all this is just the beginning. The system is currently available in several languages and supports most smartphones, including Android and iOS. Future updates are expected to include even more local languages and currencies.
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