Aug 2, 2023

Kenya's Ministry of the Interior suspended the operations of Worldcoin, the identity crypto protocol co-founded by OpenAI's Sam Altman, citing the legitimacy and privacy concerns of the project.

Video transcript

We're quickly going to go across to what's happening in Kenya because this is quite interesting. It's a fast has taken place there. It's the first time that a country has fully suspended world coins operations. And for those uninitiated, the crypto protocol was co-founded by open A I Sam Altman and scans people's irises through a ball like object called an orb. It's been happening all across the world in India at bus stands to create a global identification mechanism. And the token interestingly has not really been affected. It's risen 4.8% to $2.41 on crypto exchanges in the past 24 hours despite what Kenya has done. So I wanna start by just checking with uh Emily, what do you think of that? I think it's really interesting. Like I did not expect Kenya to be the first one to do this. You know, Europe has already signaled that they're worried about privacy and they're looking into it. But Kenya, yeah, I did not, I just didn't expect that to be the first country to do it. I think world coin is really going to test just the attitudes about privacy around the world because I think in some places they're a little bit more, shall we say comfortable with, with the orb than others? But yeah, I think that the Kenya, that, that surprised me. I wasn't expecting to see that. II I think maybe we look at uh Africa in general, uh for when it comes to world coin, we have about 2 million users, 30% of them or so, 30% of the people who have signed up, signed up uh in Africa and Kenya is not an insignificant country in Africa. Uh So, you know, I granted parliaments in, in Africa tend to, in especially East Africa. Sometimes you get some, some fun laws. I'm just, I'm understating what happens in East Africa. Um But it's, uh I actually, II, I kind of disagree with Emily. I, I don't know, II I could see that there is some apprehension. I could see regulators in Kenya being uh apprehensive about uh World Coin. Uh just because it, it just seems so, I, I don't know. Uh I, I think I don't wanna say dystopian. I granted that folks at World Coin will, will tell you uh that they're not collecting biometric data. They're the way in which they collect the data does not. It, it basically what they're doing is you're using your eye as almost a key if you will. But it's still kind of, uh, I don't know. I think, I think people are just weirded out by it. Yeah. What they say is that they take the scan of the eye and they make it into a code and they delete or not keep uh the biometric data. That's what they see. Uh But anything that takes a picture of you and does all that stuff, you could see how ee especially something like crypto, you could see how parliaments around the world are gonna be like hold up, regulators are like, hold up. What is this? WW what's going on here? We, we, we're trying to get a handle on everything here for the moment. It's the interior ministry which in some parts of the world is called the Home Ministry. My understanding is like in India, uh it's not the parliament just yet and, and, and we're also, we're also trying to figure out like what other countries will do. Like, for example, India collected the government itself collected by metric data of every single uh amongst the world's most populated. Uh And so they're not in really a position to say that word coin is doing something wrong. So that's going to be interesting. They haven't taken a position yet.

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