WorldCoin (WLD) – Big Opportunity or Big Crypto Market Scam?

On the one hand, visionaries and well-known names in the industry, and on the other, controversial practices involving giving away cryptocurrency in exchange for scanning the retina of your eye. What is WorldCoin (WLD), the most famous cryptocurrency in the world in recent weeks? We check.

It will not be an exaggeration to say that WorldCoin is currently being talked about all over the world. The new token is supported by OpenAI. But also by Sam Bankman-Fried, founder of the FTX cryptocurrency exchange, which fell with a bang, and its owner made - to put it mildly - suspicious financial movements. The investigation is still ongoing, but everything indicates that he is not a crystal figure. Now he is among the names of the first round of funding for the new project.

On the other hand, he is behind the project Sam altmanand it's none other than that CEO of OpenAI, i.e. a technological breakthrough, the meaning of which probably does not need to be explained to anyone. Chat GPT for it triumphs and is already changing the world.

What is the WorldCoin cryptocurrency?

WorldCoin aims to be a platform that will distinguish humans from algorithms and bots. What used to be child's play, is now developing at an exorbitant pace artificial intelligence it won't be that easy anymore. And it will be useful to everyone: from the smallest to the largest companies, by ordinary people who simply do not want to be cheated.

AI will be tool-recognised. First, based on the retinal scans Orb will perform. A retina scan is even more unique (if you can say so) than a fingerprint.

The WorldCoin token is to be diluted as much as possible

After WorldCoin's debut, there were 143 tokens in circulation. 000 million WLD coins were airdroped, and 000 million WLD were loaned to market makers outside the US for three months. This is very little, because the primary supply is only 43% of the total. However, this is the intended action. The network is to be made up of as many people as possible, not a narrow group holding a larger part of the market in their wallets.

The first days after WorldCoin's debut brought only good news to investors. Although currently (as of August 3, 2023) you have to pay USD 2,41 for each token, and the maximum price was USD 2,90, after a significant drop right after the debut, which includes most cryptocurrencies, the chart is slowly climbing to next levels. Some analysts are already predicting a bright future for it, but there are also reefs on the horizon of this great voyage. And it's not a big deal.

Scan your iris, you'll get cryptocurrency

The form of distribution of tokens raises the greatest doubts. You can get them for free after registration, but an iris scan is required. The company explains that it does this to distinguish more people and build a network of recipients in accordance with its plan and as much dispersion as possible.

The magazine drew attention to the ethical doubts of such customer acquisition MIT Technology Review, writing that this is nothing more than the acquisition of personal data, and those that may be used for nefarious purposes in the future.

However, the founders of WorldCoin defend themselves against these allegations.

“WorldCoin is not a data trading company and our business model does not involve the use or sale of any of our users' personal information. WorldCoin only checks the uniqueness of the user, i.e. whether he has not been previously registered with WorldCoin. We are not interfering with his identity." – we read in a more than 20-page WorldCoin statement.

However, he does not believe these assurances. founder EthereumVitalik Buterin.

"The Orb is a hardware device, so we have no way of knowing how it was built, and there is no "back door." The software layer itself may not raise objections because it is decentralized, but in theory the WorldCoin Foundation still has the ability to insert capabilities into the system that will allow it to create multiple fake identities at will. – emphasizes the already legendary programmer.

An investigation into the iris scanning of UK residents is already underway in London. The Information Commissioner's Office (ICO) is checking whether WorldCoin has a legal basis to collect biometric data at all.

Soon we will probably find out whether the company has simply made an image mistake, not explaining the details of the technology used, or is it just another scam, but in a nice package, with beautiful slogans on the banners and big names and their money behind it all.