Worldcoin Registers Record Single-Day Sign-Ups In Argentina

Table of Contents

• Worldcoin Hits Record Numbers 
• Argentina And Its Enthusiasm For Crypto 
• Authorities Still Investigating Project 
• Surge Not Limited To Argentina 

Worldcoin registered a record number of single-day sign-ups in Argentina, a country known for its enthusiasm when it comes to crypto and tech innovation. 

Worldcoin reported that an astonishing 9500 users had completed the verification process for World ID, a significant surge in demand. 

Worldcoin Hits Record Numbers 

Worldcoin is a crypto project created by Sam Altman, the CEO of OpenAI. Altman describes Worldcoin as an identity-focused crypto project. The project encourages users to establish their digital identity through iris scans. Now, the project has stated that it has registered record numbers in Argentina, a country known for its enthusiasm towards tech and crypto innovation. In a blog post published by Worldcoin, the company added that around 9500 Argentineans had verified their World ID in a single day. The posts added that this was equal to one verified individual in Argentina every nine seconds. 

“Following the launch of the Worldcoin project on the 24th of July, 2023, there was a significant increase in demand for World ID verifications in countries around the world. This continued into August, which saw 9.5K Argentinians verify their World ID in a single day. That’s one verified human in Argentina every 9 seconds.”

The post added that the surging demand led to World App, the first wallet created for the project, temporarily becoming the number one app on Argentina’s App Store. 

Argentina And Its Enthusiasm For Crypto 

During a conversation on the Ethereum Argentina Mainnet Stage on Friday, Alex Blania, the Worldcoin project co-founder and the CEO of Tools of Humanity, talked about Argentina and its enthusiastic response to innovative crypto projects such as Worldcoin. Blania stated in their answer that Argentina is one of the world’s most crypto-forward countries and has a greater understanding of the fundamental principles of crypto. 

“I think the first major thing that stands out is that Argentina specifically is one of the most crypto-forward countries in the world. People are much more sensitive and much more understanding of the fundamental principles of crypto. It’s a combination of having a very technologically advanced country in general and then also a crypto-forward country specifically, which makes it an explosive building ground for the next wave of innovation in this space.”

Authorities Still Investigating Project 

Argentine authorities, however, do not seem to share the same enthusiasm about Worldcoin as the country’s citizens. The surge in Worldcoin numbers from Argentina comes even as authorities in the country investigate the project over matters related to data privacy. Earlier during the month, the country’s Public Information Access Agency had stated that it would thoroughly analyze the processes and practices used for collecting, storing, and using personal data. 

“Cases like this show the need to strengthen the current legal framework regarding the Protection of Personal Data. Citizens have the right, whenever personal data is provided, to have clear and accessible information in relation to the transfer, use, and purpose for which the data is collected and processed, especially with regard to sensitive data, such as biometrics.”

Kenya, another country that saw over a quarter of a million people being signed up by Worldcoin, announced that it was suspending the project. Authorities stated that this was done over several concerns regarding Worldcoin’s operations. 

Surge Not Limited To Argentina 

Worldcoin states that its vision revolves around inclusivity in the larger global economy and serving over 4 billion individuals worldwide who lack a legitimate and digitally verifiable identity. The surge in demand for World ID verification is wider than just Argentina. Users around the world are rushing to get their World ID verification since Worldcoin’s public launch on the 24th of July, 2023. Earlier this week, the company stated that sign-ups had surged, and verifications had risen by over 100%. Worldoin noted in its official blog, 

“What’s noteworthy here is that the rate of World ID verifications had already doubled once in 2023. Between January and July, World ID sign-ups went from one million to two million in less than half the time it took to reach the first million. Last week’s 2X growth in weekly World ID sign-ups demonstrates a sustained increase in global demand for World ID as a standalone product.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.