By
Mayowa Adebajo
June 27th, 2024
The announcement of Worldcoin’s expansion into Ecuador coincided with a notable rise in the price of its native cryptocurrency, WLD.
Worldcoin, a project co-founded by OpenAI’s Sam Altman, is experiencing an upsurge following its announcement to expand to Ecuador. The expansion is a further testament to its ambition to take its identity verification network to every corner of the globe.
Worldcoin Brings World ID Orbs to Ecuador
Worldcoin’s major selling point is its privacy-focused identity verification system, known as “World ID orbs.” These orbs allow users to securely confirm their identity online without exposing personal data. According to the announcement, World ID would set up its verification booths across six strategic locations in the country’s two major cities, Guayaquil and Quito. That is, between June 26 and June 27.
With this move, Worldcoin has extended its tentacles, particularly in the Latin American region, capturing no less than 6 countries in the same location. Argentina, Chile, Colombia, Mexico, and Peru already offer World ID verification, and now Ecuador is set to be the latest member on that list.
Notably, Worldcoin’s foray into Ecuador is a strategic one that has built on feedback before being set out in motion. According to local surveys conducted by Tools for Humanity, a Worldcoin contributor, there is a ready market for secure online identity verification in the region. Over 90% of respondents in Ecuador, Peru, and Colombia showed great interest and preference for technology that distinguishes humans from bots online.
WLD Price Rises Following Another Development in Kenya
The announcement of Worldcoin’s expansion into Ecuador coincided with a notable rise in the price of its native token, WLD (WLD price data). However, that is not all there is to the rally.
In another interesting update, Kenya has also dropped its Worldcoin investigation, meaning that there would be no further police action from the African country. Recall that Kenyan authorities suspended Worldcoin operations in August 2023. At the time, the Directorate of Criminal Investigations (DCI) of the National Police Service of Kenya claimed that it had reasons to believe that the company engaged in “unlawful collection and transfer of personal sensitive data.” Upon a recent inquest, however, Kenyan authorities have finally dropped the investigation. This means that Worldcoin may finally make a comeback in the region and continue its expansion plans into the entire African continent.
On the heels of these latest reports, WLD price has soared 13.03% to $3.14, as of press time. That is according to CoinMarketCap data.