Worldcoin project also starts in Austria

Worldcoin, the cryptocurrency project by OpenAI CEO Sam Altman, will soon be available in Austria. This was announced by the German operating company Tools for Humanity in Munich.

Worldcoin, the cryptocurrency project founded by OpenAI CEO Sam Altman, has announced its arrival in Austria through German operating company Tools for Humanity.

The project, which aims to create a universal digital identity, will see three scanning locations set up in Vienna. Interested parties can visit these sites to have their eyes scanned and obtain a "World ID." This ID will serve to distinguish them from AI-generated software bots in online interactions.

To date, around 6.3 million individuals across 39 countries have participated in the initiative.

The World ID is linked to the cryptocurrency Worldcoin (WLD), which is distributed in small quantities to regular users. The digital currency is also traded on specific cryptocurrency exchanges, allowing users to exchange it for traditional fiat currencies. However, the WLD token has experienced a notable decline in value recently.

In March, the price briefly surpassed 10 euros, but it had fallen to 2.10 euros by the end of July.

The project is largely funded by early-stage venture capital investments from Andreessen Horowitz and Bain Capital.

Speaking to dpa, Friederike Lumbroso-Baumgartner, General Manager at Tools for Humanity for Germany, Austria, and Switzerland, highlighted the project's initial goal of "quickly and ambitiously expanding to other markets."

"We want to enable as many people as possible to get the 'World ID' as quickly as possible," she said, adding that they will continue to work on further innovations in the future.

Lumbroso-Baumgartner also emphasized that the World ID and the Worldcoin project fully adhere to the requirements of the European General Data Protection Regulation (GDPR).

Prior to launching in Vienna, they consulted with the Austrian data protection authority, she noted.

While Worldcoin does not collect any additional personal data, such as name, date of birth, or address, for the World ID iris scan, the concept has drawn skepticism from politicians and authorities.

In Europe, the Bavarian State Office for Data Protection Supervision is tasked with overseeing the project. The operating company recently relocated from Erlangen to Munich.

The "World ID" is linked to the cryptocurrency Worldcoin (WLD), which is also traded on specific cryptocurrency exchanges and can be exchanged for traditional currencies.

Despite the recent decrease in WLD's value, users still receive small amounts of the digital currency after having their eyes scanned for the "World ID" verification process.

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