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WorldCoin Achieves significant milestone in Argentina amidst investigation of cryptocurrency platform’s activities

Argentina Emerges as a Leading Country for Crypto Adoption and Innovation

According to a recent update by WorldCoin, Argentina is gaining recognition as one of the world’s top countries for crypto adoption and innovation. Despite an ongoing investigation into the operations of the crypto platform in Argentina and other jurisdictions, the demand for World ID in the country reached a new record in August.

World ID is a global identity protocol powered by the Worldcoin ecosystem. It utilizes a proof of personhood (PoP) credential issued by a biometric imaging device called the Orb, enabling individuals to digitally confirm their uniqueness and humanity. Unlike traditional identity verification processes, World ID does not require personal information such as names, email addresses, phone numbers, or social profiles.

Alongside its privacy-preserving features, World ID plays a crucial role in Worldcoin’s mission to provide access to the global economy for more than 4 billion people worldwide who lack a legal and digitally-verifiable identity.

During a fireside conversation, Alex Blania, co-founder of Worldcoin, praised Argentina for its positive response to innovative crypto projects like Worldcoin. He highlighted that Argentina is one of the most crypto-forward countries in the world, with a strong understanding of the fundamental principles of cryptocurrency. Blania attributed this to Argentina’s advanced technological infrastructure and the country’s openness to crypto, making it an ideal environment for the next wave of innovation in the crypto space.

Currently, Worldcoin’s Orbs are available in four cities in Argentina, namely Buenos Aires, Mar del Plata, Cordoba, and Mendoza. Since the launch of the Worldcoin project on July 24, 2023, there has been a significant increase in the demand for World ID verifications globally.

In August, 9.5K Argentinians verified their World ID in a single day, equivalent to one verified human every 9 seconds in Argentina. The rise in demand even led the World App, the first wallet created for the Worldcoin project, to briefly become the number one app in Argentina on the App Store.

Argentina’s burgeoning crypto adoption and innovation demonstrate the country’s embrace of cutting-edge technologies and its potential to lead the way in shaping the future of the global economy.

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