Worldcoin Reaches New Milestone with 4 Million App Downloads

The digital identity project, Worldcoin, has reportedly now been downloaded 4 million times on the iOS and Android app stores. That was revealed by the development team, Tools for Humanity (TFH), on Wednesday.

Worldcoin launched officially on July 24 in about 20 countries. Using dedicated orbs, the project obtains biometric data of the iris from interested individuals. It then rewards these users with its native WLD token post-verification. At its peak, the WLD token traded at $2.27 but currently exchanges hands for $1.87.

According to TFH, Worldcoin surpassed the 4 million mark and could potentially be the sixth most downloaded crypto wallet. Notably, the app also has more than one million active users monthly. It has also processed over 22 million transactions. Again, the developers claim more than 500,000 weekly active users and over 100,000 daily active users.

Head of Product at TFH, Tiago Sada, noted that the entire team is drawing inspiration from the response to its app within six months of launch. The team has rolled out a couple of updates to ensure the app continues to meet demands. For example, it recently released an update that bundles transactions together and makes the World App more scalable and cost-efficient.

“As the need for digital identity and digital finance continues to become more pressing, we know this is just the beginning,” Sada concluded.

Worldcoin Milestones Achieved Despite Regulatory Scrutiny

Meanwhile, the milestone comes hard on the heels of criticism received by the project from several quarters. Chief among concerns about the project is an alleged lack of transparency regarding the project’s data collection and storage methods.

In Germany, Argentina, France, and the United Kingdom, authorities have either voiced concerns about Worldcoin or launched inquiries into its activities. Elsewhere in Kenya, a parliamentary committee investigating the project has recommended shutting down the project in the country.

According to the committee report, Worldcoin failed to obey the government order for it to stop collecting the personal data of Kenyan residents. “The registration of Kenyans by Worldcoin online App is still going on despite the pendency of a court order and other administrative directions halting the same in entirety,” the report said.

Recall that the Cabinet ministry previously suspended the activities of Worldcoin in the nation pending the result of investigations. The parliamentary committee also suggests that Worldcoin may have collected the information of minors.

Consequently, the committee has recommended that Worldcoin platforms in the country be disabled. They’ve also requested that the company be investigated for possible criminal charges.

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2023-11-02 13:09