The Personal Information Protection Commission has commenced an investigation into ‘Worldcoin,’ a cryptocurrency that offers virtual currency in exchange for registering iris information. The investigation was triggered by complaints regarding the collection and processing of facial and iris recognition information, amid concerns both domestically and internationally about the methods of personal information processing by Worldcoin.
Developed by OpenAI founder Sam Altman, Worldcoin is a virtual currency system that verifies an individual’s humanity through iris recognition and awards coins as a form of basic income. This service is available in 20 countries around the world, including South Korea, providing initial Worldcoin credits to users who register their iris information, followed by regular additional coin distributions. Worldcoin aims to establish a new system that differentiates humans from AI in the age of artificial intelligence and provides a basic income.
However, the method of collecting iris information by Worldcoin has sparked controversy over the risk of personal information leakage and the clarity of consent obtained during the processing of sensitive information. The Personal Information Commission confirmed that Worldcoin’s affiliates are collecting facial and iris recognition data in South Korea and is investigating the procedures for collecting and processing sensitive information under personal information protection laws, including overseas transfer. In particular, biometric information, once leaked, cannot be recovered and is irreversible, necessitating stricter standards for its processing.
Worldcoin has temporarily halted new registrations in South Korea and stated its intention to cooperate with the investigation. Meanwhile, the price of Worldcoin has surged recently due to the launch of new services by OpenAI, attracting significant attention in South Korea. Depending on the findings of the investigation, changes may be required in Worldcoin’s operational methods and personal
