October 17, 2024

FINTECH MAGAZINE AFRICA

Fintech eyes in africa

Kenya Leads Global Interest in Worldcoin Despite Ban 

In recent days, there has been a surge of global interest in Worldcoin, a cryptocurrency token linked to Sam Altman’s innovative digital ID project. Based on research, it is revealed that Kenya remains the epicenter of this enthusiasm, with a remarkable level of interest surpassing that of other countries, despite the Kenyan government suspension of all activities associated with the cryptocurrency.

Leading the pack with a Google Trends score of 100, Kenya showcases fervent curiosity and engagement with Worldcoin and its associated initiatives. Portugal closely follows at 93, reflecting significant interest, while Argentina, Chile, and Spain complete the top five with varying degrees of engagement.

Phil Hoey, director of CoinJournal, remarked, “As the crypto market evolves and innovates, initiatives like Worldcoin are at the forefront of technological advancement, offering novel solutions to complex challenges.” He added, “With Kenya emerging as a hotspot of interest, the global crypto community eagerly anticipates the future impact of projects like Worldcoin in shaping the digital landscape.”

Recall that the Kenyan government last year suspended all activities associated with Worldcoin in the country following data breach and privacy concerns. The country’s Interior Cabinet Secretary Kithure Kindiki said the government is deeply troubled by the ongoing activities of Worldcoin, which has been involved in the registration of citizens through the collection of eyeball or iris data.

Worldcoin, led by Sam Altman and closely tied to OpenAI’s developments, aims to revolutionize identity verification using iris scanning technology and blockchain. By providing unique digital identities, Worldcoin addresses pressing issues surrounding online identity verification.

The project which was co-founded by Sam Altman, co-founder of OpenAI and Alex Blanca in July 2023 and saw users flock to its orbs across different parts of the country to be issued with the tokens worth about $45. 

However, users are only issued with the tokens once they approve that they’re actually humans and not robots by getting their eye’s unique iris pattern scanned. Worldcoin has however revealed that it will be resuming its Kenya operations early this year. Reports indicate that the company has reached an agreement with Kenyan authorities which allows it to resume operations under new guidelines.

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