Partner Richard Cannon discusses controversial cryptocurrency service Worldcoin, and argues that its biometric authentication technology is a serious concern for data-protection and crypto regulatory bodies.

Richard’s comments were published in The Independent, 3 August 2023, and can be found here.

“The launch of Worldcoin is a serious concern for data-protection and crypto regulatory bodies, and demonstrates the urgent need for cross sector and cross border regulation.

“Worldcoin claims that once its systems are optimised it will anonymise and destroy users’ biometric data, but are yet to provide clarity regarding when this will happen, and have given no indication as to how the data is safely and securely stored.

“There are elements of this product which have the appearance of a gimmick and the fact that users’ biometric information is tied to a coin should be a clear red flag to regulators.

“There is also a financial regulatory aspect to this debate, with the Worldcoin token being issued to early users but prohibited in the US because of ‘regulatory concerns’.”

Stokoe news header - glasses

15 Feb 2024

Partner Richard Cannon comments on the SFO and whistleblowers in The Times, City A.M. and The Law Society Gazette

READ MOREREAD MORE

Stokoe news header - computer

09 Feb 2024

Partner Maria Theodoulou discusses computer evidence in Thomson Reuters Regulatory Intelligence

READ MOREREAD MORE

Related News

Stokoe news header - glasses

15 Feb 2024

Partner Richard Cannon comments on the SFO and whistleblowers in The Times, City A.M. and The Law Society Gazette

Stokoe news header - computer

09 Feb 2024

Partner Maria Theodoulou discusses computer evidence in Thomson Reuters Regulatory Intelligence

Stokoe news header - royal courts

15 Jan 2024

Partner Richard Cannon comments on the Horizon IT scandal in City A.M., Law360 The Daily Mail