Global WorldCoin Holders to Visit Kenya Next Week
Next week, the founders of the controversial cryptocurrency project Worldcoin are anticipated to arrive in the country.
Sam Altman, the CEO of OpenAI, collaborated with Max Novendstern and Alex Blania to develop the initiative.
They are scheduled to appear before a parliamentary commission investigating the organization’s activities in the country after its suspension earlier this month.
Gabriel Tongoyo, chairman of the committee, stated on Tuesday that the officials will not appear as scheduled on Wednesday.
“They will appear on Monday of the following week…due to travel issues, they have informed us that they will not be here as scheduled, so we have made the necessary adjustments to our schedule,” said Tongoyo, the member of parliament for Narok West.
They were scheduled to appear with the Solicitor General, Shadrack Mose, and the Data Commissioner, Immaculate Kassait.
Representatives from the multi-agency National Computer and Cybercrime Coordination Committee (NC4) were the first to testify as the Committee began its investigation on Tuesday.
The Committee stated in its report that thousands of Kenyans who scanned their eyes for Sh7,000 may not have received the money.
It was stated that those who enrolled would only receive free tokens redeemable by those with PayPal accounts.
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In October 2021, the Worldcoin initiative raised an initial $25 million (Sh3.5 billion).
Within six months, an additional $100 million (Sh14 billion) was raised, increasing the value of the token to $3 billion (Sh420 billion).
It creates a new type of global identity service by combining cryptocurrency with biometric registration.
Kenya, one of the first nations to initiate the program, suspended enrollment due to security, privacy, and financial concerns.
The Committee was informed that as of July, Kenya had the maximum number of subscribers with a total of 350,000, representing 25 percent of the global total.
World ID registrations on its website have reached 2.26 million from 34 countries.
It is currently available in Hong Kong, Lisbon, Mexico City, New York, Sao Paulo, Seoul, Singapore, and Paris, among other locations.
Approximately eleven businesses are said to be operating in the country.
Wangechi Maina and Rael Mwende are the agents whose local entities Platinum De Plus Limited, EXP Kenya, and Sense Marketing are under investigation.
Global WorldCoin Holders to Visit Kenya Next Week