Wtf is Worldcoin?.. and what does it mean for humanity?
What is Worldcoin? Worldcoin is a cryptocurrency project that aims to create a global identity system based on iris scans. The project was founded by Sam Altman, the former CEO of Y Combinator, and is backed by investors such as Peter Thiel and Marc Andreessen.
How did Worldcoin start?
Worldcoin was first announced in 2018. The project began by conducting pilot programs in Kenya and India, where people were offered free cryptocurrency in exchange for their iris scans. The project has since expanded to other countries, and has reportedly signed up over 2 million users. The average price for WLD tokens is 2.25, so the amount these people are giving up their biometric data for is about $50 USD.
What is the purpose of Worldcoin?
Worldcoin's stated purpose is to create a global identity system that is more accessible and secure than existing systems. The project's website states that Worldcoin "will provide everyone with a unique, secure, and portable identity that they can use to access financial services, healthcare, education, and other essential services."
How do people feel about Worldcoin? Public opinion on Worldcoin is divided. Some people believe that the project has the potential to revolutionize the way we think about identity. Others are concerned about the privacy implications of iris scanning, and the potential for Worldcoin to be used for mass surveillance. Yeah.. no shit,. this is a HUUUUUGE deal... especially in the area of 23andme and Ancestry.com BOTH are proported to be scams on massive levels that NOBODY is sure of where the data goes or what is done with it.
What are the risks of Worldcoin?
There are a number of risks associated with Worldcoin, including:
Privacy concerns: Iris scans are considered to be highly sensitive biometric data. There is a risk that Worldcoin could be used to track people's movements or activities without their consent.But people willingly set this up on their phones and don't consider it a problem.
Security concerns: There is a risk that Worldcoin's iris scanning technology could be hacked or compromised. This could lead to the exposure of people's personal data, but nobody is even sure WHERE the data goes or what it is being used for.
Financial risks: Worldcoin is still in its early stages, and it is not yet clear how the project will be funded or how it will generate revenue. There is a risk that Worldcoin could fail, leaving investors and users with losses. In this creators opinion, I see the connections between the UBI system and ripple labs, and others.
Media around Worldcoin
Here is a video I created speaking to the trend of worldcoin with some references from social media platforms therein. Give it a watch and let me know what YOU think about this.
Other Security tokens that won't steal your soul
Here are a few other crypto tokens that are based in security if having your biometric data stolen from you is NOT in your MO.
CertiK (CTK): CertiK is a blockchain security company that offers a variety of services, including smart contract auditing, security assessments, and insurance. The CTK token is used to pay for these services and to participate in the CertiK ecosystem.
Guardia (GLD): Guardia is a decentralized security platform that allows users to store and manage their digital assets securely. The GLD token is used to pay for services on the Guardia platform, such as staking, voting, and governance.
Proof of Stake Capital (POSW): Proof of Stake Capital is a decentralized investment fund that invests in blockchain security projects. The POSW token is used to govern the Proof of Stake Capital fund and to participate in its security initiatives.
Nexus Mutual (NXM): Nexus Mutual is a decentralized insurance platform that provides coverage against smart contract hacks and other security incidents. The NXM token is used to pay for insurance premiums and to participate in the Nexus Mutual ecosystem.
Secure Asset Fund for Users (SAFU): SAFU is a fund created by Binance to protect users' funds in the event of a security breach. The SAFU token is not currently available for trading, but it is used to manage the fund and to vote on its governance.
It is easy to find these tokens if you want to invest in them or trade them by using apps like https://www.tradingview.com/gopro/?share_your_love=integritydesign
You can find me on there, give me a follow or shoot me a message, sometimes I share free trading setups.
There are always many NEW cryptos being created and implemented, each day, some WILL survive the upcoming regulation, and some will not. As always, #DYOR
Speaking of security, It is crucial to keep your cryptos on a COLD hardware wallet. This is one I personally use and recommend.
My Personal favorite Crypto Hardware Wallet, With a secure Fingerprint scan and NEVER needs to be connected to a computer to send cryptos.
UPDATE:
The Worldcoin project was recently suspended in Kenya, but still seems to be in FULL swing in the rest of the locations that offer the scanning on the website www.worldcoin.org
Conclusion Worldcoin is a controversial cryptocurrency project with the potential to revolutionize the way we think about identity. But there are many more crypto tokens that are useful for security and a more worthwhile investment than this one. Just my opinion, Not Financial Advice.
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