So I’m sure you’ve all heard about Worldcoin by now. It’s that crypto project that’s giving away free crypto for scanning your eye.
Sound kind of terrifying, doesn’t it?
This is a part of why news about Worldcoin has spread so wide, but there are two other main reasons why.
First, Worldcoin was founded by Sam Altman. Sam is famous for being the former president of Y Combinator, the startup accelerator that brought you big names such as Airbnb, Stripe, and even Coinbase. Sam also co-founded OpenAI with Elon Musk, where Sam now serves as CEO.
Second, Worldcoin secured 25 million dollars of investment from heavyweights in the crypto space back in June, including Andreesen Horowitz, Coinbase Ventures, FTX founder Sam Bankman-Fried, and even the founders of Polkadot and Solana (Gavin and Anatoly).
Worldcoin is ultimately a UBI experiment combined with cryptocurrency. This is why Worldcoin scans eyes – to make sure that the same person doesn’t receive a UBI payment twice. Interestingly, Worldcoin will be built on Ethereum and use rollups for scalability.
If you think this sounds crazy, you should know that Worldcoin has already begun its rollout. There are 30 orbs operating around the world in a dozen countries, and they’re hoping to scale up to producing thousands of orbs per month to scan 1 billion eyes by 2023.
This is made possible by the fact that orb operators earn some pretty lucrative rewards for convincing people to gaze into their orb. The people gazing are also interested in getting free crypto, but something tells me they don’t know too much about Worldcoin’s tokenomics.
Although Worldcoin’s exact tokenomics are still being hammered out, one thing’s for sure: people won’t be able to sell their Worldcoin when it becomes available sometime in early 2022 (the Worldcoin you find now on Etherscan or CoinMarketCap is not the one, by the way).
The scary thing is that until the Worldcoin main net goes live, Worldcoin will be harvesting as much biometric data as possible from its early adopters. This is something that is somewhat hidden on the Worldcoin website, along with the name of the company building Worldcoin.
As you can imagine, there is a very long list of concerns with this project, and for very good reason.
Keep a close eye on this project 👀
⛓️ 🔗 Useful Links 🔗 ⛓️
► Sam Altman Wikipedia: https://en.wikipedia.org/wiki/Sam_Altman
► Y Combinator Companies: https://www.ycombinator.com/companies/
► Worldcoin Bloomberg Leak From June: https://www.bloomberg.com/news/articl…
► Tools For Humanity Corporation: https://opencorporates.com/companies/…
► Worldcoin Website: https://worldcoin.org/
► Max Novendstern Tweet: https://twitter.com/mnovendstern/stat…
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.