Worldcoin owners expected in Kenya next week

They will appear before a parliamentary committee next week Monday.

In Summary
  • They are set to face a parliamentary committee inquiring into its activities in the country following its suspension earlier this month.
  • Committee chairperson Gabriel Tongoyo said Tuesday the officials will not appear Wednesday as scheduled.
Narok West Gabriel Tongoyo who chairs the ad hoc committee inquiring into the Worldcoin project. EZEKIEL AMING'A
Narok West Gabriel Tongoyo who chairs the ad hoc committee inquiring into the Worldcoin project. EZEKIEL AMING'A

Founders of the controversial cryptocurrency project Worldcoin are expected in the country next week.

OpenAI CEO Sam Altman developed the project alongside Max Novendstern and Alex Blania.

They are set to face a parliamentary committee inquiring into its activities in the country following its suspension earlier this month.

Committee chairperson Gabriel Tongoyo said Tuesday the officials will not appear Wednesday as scheduled.

"They will appear on Monday next week...with travel issues, they have told us they will not be here as planned and so we have made the necessary adjustments to our program," said Tongoyo, the Narok West MP.

They were to appear alongside Solicitor General Shadrack Mose and Data Commissioner Immaculate Kassait.

The Committee began its inquiry Tuesday with representatives from the multi-agency National Computer and Cybercrime Coordination Committee (NC4) being the first to testify.

In its submission, the Committee said thousands of Kenyans who scanned their eyeballs in exchange for Sh7,000 may not have received the money.

It stated that those who registered were only given free tokens which were to be later cashed out by those with PayPal accounts.

Worldcoin project raised an initial $25 million (Sh3.5billion) in October 2021.

Within six months, an additional $100 million (Sh14 billion) was raised, pushing the token's value up to $3 billion (Sh420 billion).

It uses a combination of cryptocurrency and biometric registration to create a new kind of global identity service.

Kenya, which is one of the first countries where it was launched, suspended its enrollment citing security, privacy and financial concerns.

The Committee heard that as of July, Kenya had the highest number of subscribers at 350, 000 accounting for 25 percent of the global figure.

On its website, World ID signups have so far hit 2.26 million from 34 countries.

It is currently available in cities which include Hong Kong, Lisbon, Mexico City, New York, Sao Paulo, Seoul, Singapore and Paris.

Some 11 companies are said to be running the business in the country.

The agents are identified as Wangechi Maina and Rael Mwende whose local firms Platinum De Plus Limited, EXP Kenya and Sense Marketing companies are under probe.

WATCH: The latest videos from the Star