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Cryptocurrency News Articles

Open protocol Worldcoin, which is focused on providing digital identities, has partnered with data analytics platform, Dune

Oct 11, 2024 at 09:04 pm

The partnership aims to improve data accessibility for World Chain users. The news comes as Worldcoin has pivoted its focus from Europe to regions with greater growth potential.

Open protocol Worldcoin, which is focused on providing digital identities, has partnered with data analytics platform, Dune

Worldcoin, a decentralized open protocol that aims to provide digital identities, has announced a partnership with Dune, a crypto data analytics platform. The collaboration is set to enhance data accessibility for users of the World Chain network.

The partnership was disclosed in a press release shared with CryptoSlate on Monday. It comes as Worldcoin is shifting its focus from Europe to regions with higher growth potential and addressing regulatory scrutiny over its data collection practices.

Dune and Worldcoin partnership to offer more data

Crypto data analytics platform Dune has partnered with Worldcoin to improve access to data on World Chain. World Chain is an Ethereum L2 built on the OP Stack and integrated with Worldcoin. The project claims that upon its launch, users will be able to prove their identity while maintaining their privacy.

The partnership aims to enable users and developers to access and analyze data on World Chain once it launches. This data accessibility could provide information such as how many real people are using the network and the performance metrics of DeFi or DEXs protocols built on the chain. Dune’s tools can help developers and analysts quantify the network’s growth.

According to the press release, “This new initiative by the Worldcoin Foundation aims to introduce a dedicated blockchain network that will serve as the primary home for World App and World ID,”

Meanwhile, both platforms are expected to announce further initiatives as part of the partnership.

Remco Bloemen, Head of Blockchain at the Worldcoin Foundation, believes that Dune’s analytics tools will give users and developers access to on-chain data. Bloemen notes that it will empower “them to make informed decisions and drive innovation on World Chain.”

Dune co-founder and CEO Fredrik Haga said that World Chain data integration into Dune will enable users to track performance, explore cross-chain interactions, and analyze real-world use cases.

Worldcoin shifting focus away from Europe

The development comes as Worldcoin has pivoted away from Europe. Fabian Bodensteiner, managing director of Worldcoin Europe was quoted saying at a recent summit that the project will prioritize regions like Asia as the company wants to look at places with “larger dynamics” and “bigger business opportunities.”

The project has faced scrutiny in the past over its iris data collection and privacy practices.

While regulators in the EU and other parts make decisions on the project’s compliance practices, the company is expanding. According to its recent blog, the project has plans to scale its current user base from ~7 million verified humans to 700 million plus.

The Worldcoin Foundation also revamped its community grants program in October. The Foundation updated its Request for Proposals (RFP) while targeting more innovation and engagement within its community.

Meanwhile, the WLD token has recorded gains in the last 7 days. According to CoinGecko, WLD is up 10% over the last week with around 4% gains on the 24-hour chart. However, amid its regulatory struggles and new launches, the direction of price movement remains uncertain in the long run.

Original source:cryptopolitan

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