Worldcoin’s identity service captures over 1% of Argentina amidst token value surge Worldcoin’s identity service captures over 1% of Argentina amidst token value surge
Worldcoin's WLD token rallied by more than 15% during the past day.
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Updated: Mar. 6, 2024 at 3:27 pm UTC
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Worldcoin verified nearly 16,000 Argentines in a single day in late December, bringing the number of people verified by the platform in the South American country to more than 500,000, or over 1% of its total population.
The increased demand is coming at a time when the project’s WLD token is also enjoying a massive rise in its value.
World ID demand in Argentina
In a blog post dated Jan. 11, Worldcoin reported a surge in demand for its World ID service in Argentina, which introduced a significant update aimed at enhancing inclusivity and meeting the heightened demands efficiently.
The update, specifically tailored for Argentinians, enables them to locate Orb verification hubs in their vicinity and schedule appointments for verification.
“Once an appointment is booked, the ability to verify will be unlocked up to one hour before the scheduled appointment and available up to two hours after (subject to change). Appointments can be canceled and rescheduled as necessary,” Worldcoin added.
Worldcoin has facilitators spread across 38 locations in Argentina, concentrating in the capital city, Buenos Aires.
Worldcoin is a blockchain-based initiative that allows individuals to validate their human identity through iris scanning. Upon successful verification, users receive a “World ID” credential that can be seamlessly integrated into future applications, proving they are human.
WLD price uptick
Worldcoin’s WLD token surged 15% to $2.79 in the last 24 hours, according to CryptoSlate’s data.
Despite a recent 8.28% dip over the past week, the token has recorded a substantial 20.71% gain over the last 30 days. However, it’s important to note that WLD is still down by 39.01% from its December 2023 all-time high of $4.69984.
Beyond its price movements, Worldcoin faces heightened scrutiny from regulatory authorities worldwide.
Privacy regulators in Kenya, the U.K., France, and Germany have initiated separate investigations into Worldcoin’s practices, particularly concerning the collection of biometric data for identity verification purposes.
These regulatory challenges reflect the complex landscape in which Worldcoin operates, emphasizing the need for continued vigilance and compliance within the evolving regulatory framework.
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Worldcoin’s mission is to build the world’s largest identity and financial network to serve as a public utility, giving ownership to everyone.