Sam Altman's Worldcoin Halts ID Verification In Spain Amid Legal Tussle
Portfolio Pulse from Rounak Jain
Worldcoin, a blockchain-based identity verification service, has temporarily halted its World ID verification services in Spain due to legal challenges from the Spanish Data Protection Authority (AEPD). The AEPD's actions, which Worldcoin claims bypass standard GDPR procedures, have led to a lawsuit by Tools for Humanity, a project contributor. Despite these challenges, the World app remains operational in Spain. Worldcoin, backed by Microsoft Corp. (NASDAQ:MSFT) and OpenAI, utilizes eye-scanning technology for identity verification.
March 09, 2024 | 9:05 am
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Microsoft Corp. (NASDAQ:MSFT), as a backer of Worldcoin, may face indirect impact due to the legal challenges Worldcoin is encountering in Spain.
While Microsoft Corp. is not directly involved in the legal tussle in Spain, its association with Worldcoin as a backer could lead to indirect reputational impacts. However, given Microsoft's vast portfolio and diversified interests, the short-term financial impact on MSFT's stock is likely to be minimal. The situation warrants monitoring as it develops, especially if the legal challenges escalate or lead to significant changes in Worldcoin's operations.
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