Navigating Regulation: Worldcoin Targets New Markets for Digital Identification

Recently, there has been an increase in regulations in the Web3 industry from many countries that directly affect cryptocurrency companies. These companies often find themselves in difficult situations, leading them to seek more favorable regions for development, where the rules may be less strict and taxes lower.

In today’s news article, Coinmooner wants to discuss a recent statement from Worldcoin. Fabian Bodensteiner announced that Worldcoin plans to focus on markets in Asia and Latin America, aiming to create a digital identification system that helps fight bots and protects against deepfakes.

Additionally, Fabian Bodensteiner clarified that the Worldcoin project, which uses iris scanning of users’ eyes, targets markets where local companies and authorities are open to adopting emerging technologies. According to Bodensteiner, the most promising markets for Worldcoin are in the Asia-Pacific region, such as Japan and Malaysia, as well as Argentina in Latin America.

AI and Deepfakes: Worldcoin's Mission to Verify Users as Real People Takes Center Stage

Coinmooner decided to gather more information for our readers and found that, according to Worldcoin representatives, Europe is not their priority region. They are seeing significant activity in other parts of the world. Since we don't have a thousand employees, we must focus on jurisdictions that offer us more growth opportunities.

Additionally, a top manager from Worldcoin explained that the company's mission is to create a digital identification system that confirms that a user is a person, not a bot. This is especially important given the rise of artificial intelligence and increasing cases of deepfakes.

It is also known that in March, a Spanish court approved a request from the Spanish Data Protection Agency (AEPD) to shut down the Worldcoin project in the country. The AEPD expressed concerns about the potential illegal collection of biometric data from Spanish citizens. However, according to a survey conducted by Tools for Humanity (TFH), 90% of Spaniards expect the crypto project to return.

This news suggests that some regions of the world may not be very favorable for developing new technologies at this time, forcing companies to seek more suitable positions. Fortunately, our world is significant, and many parts are open to exploring new ideas. We also remind you that in the Web3 industry, it is crucial to use the latest security methods to protect your funds and personal data as much as possible.