Worldcoin: the cryptocurrency that wants to scan your balls

[pawanjain]

I meant the eye balls  because that's what I read it on forbes Worldcoin: The Cryptocurrency That Wants To Scan Your Eyeballs

So world coin is basically a project co-founded by openAI CEO Sam Altman whose aim is to provide users a digital identity.
They will be doing this with the help of scanning iris from users' eye balls.

Fun fact is that I saw worldcoin team at Delhi metro station and they were asking users to give their biometric data and they would get 4000rs worth of tokens.
I didn't buy their idea and considered them a scam and then 2 days later I found their coin getting listed on binance.

[1713244186]

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[pakhitheboss]

For INR 4000 I am not going to scan my irish, already the government of India has forced scanned my irish for Aadhar card. Of course for everything in India I need the aadhar card but I have zero clue why I would need the world ID that they are offering. For me it is a controversial  project but the hype it has been gaining lately is good for anyone who wants to invest in this project for long term gain. As soon as it got listed on Binance it pumped for more than 50%. At the moment it is trading sideways and in the next bull run it might reach its ATH.

[avikz]

Lol! This seems like a bigger scam than Picoin. Pi coin is playing on KYC and worldcoin is playing on biometric data. Surely, I wouldn't do that in exchange of garbage. Also I don't think this activity is entirely legal. Paying money against people's biomatric data, might be considered unlawful.

Such kind of coins usually creates a buzz at the beginning but later we usually see an exit scam. What's hilarious is that the creator of an AI company talks about a more human driven crypto ecosystem. Oxymoron!

[elevates]

I am quoting what they have printed below. I was not aware about this project to be precise. I

Worldcoin consists of a privacy-preserving digital identity (World ID) and, where laws allow, a digital currency (WLD) received simply for being human. We hope that, where the rules are less clear, such as in the U.S., steps will be taken so more people can benefit from both.

I won't conclude to the point that this might be another project that is stealing our identity. The initiative is good but the implementation might not be worthy as this project does not have support from every government that rules. It is tricky as it wants our Irish to get scanned. While going through the letter I started wondering what would happen if they want to sell the database. I do believe this project is similar to pi network.

[pawanjain]

Lol! This seems like a bigger scam than Picoin. Pi coin is playing on KYC and worldcoin is playing on biometric data. Surely, I wouldn't do that in exchange of garbage. Also I don't think this activity is entirely legal. Paying money against people's biomatric data, might be considered unlawful.

Such kind of coins usually creates a buzz at the beginning but later we usually see an exit scam. What's hilarious is that the creator of an AI company talks about a more human driven crypto ecosystem. Oxymoron!

Remove the first 3 letters from your last word and that would be it. 

I am quoting what they have printed below. I was not aware about this project to be precise. I

Worldcoin consists of a privacy-preserving digital identity (World ID) and, where laws allow, a digital currency (WLD) received simply for being human. We hope that, where the rules are less clear, such as in the U.S., steps will be taken so more people can benefit from both.

I won't conclude to the point that this might be another project that is stealing our identity. The initiative is good but the implementation might not be worthy as this project does not have support from every government that rules. It is tricky as it wants our Irish to get scanned. While going through the letter I started wondering what would happen if they want to sell the database. I do believe this project is similar to pi network.

What's good in this initiative if you can please elaborate ?

You have already mentioned the potential threat of this project which is selling the database to someone.
Just imagine the possible risks of getting this data stolen or sold and that will tell us if we should really be investing in this project or not.
Just as more people realize this fact and as it comes closer to reality there will be many people who would chose to exit from this project.
By then, there would have already been an exit scam from the project. This is just my personal opinion and people can DYOR.

[pakhitheboss]

I was going through the worldcoin literature and found the concept to be unique. They are using proof-of-personhood consensus instead of proof-of-work. Which means your unique identity will help you to mine the coin. Since, the goal of Worldcoin is to build a global digital currency along with an identity system that is why they are using using iris scanning technology. You can change your fingerprint but you cannot change your irish. Your irish scan being unique is linked to wallet which makes it ver safe & secure. The proby here is that it is centralized. Like picoin they have not blocked the tokens. You can straightaway trade them. Still privacy is a major concern for me.

[pawanjain]

I was going through the worldcoin literature and found the concept to be unique. They are using proof-of-personhood consensus instead of proof-of-work. Which means your unique identity will help you to mine the coin. Since, the goal of Worldcoin is to build a global digital currency along with an identity system that is why they are using using iris scanning technology. You can change your fingerprint but you cannot change your irish. Your irish scan being unique is linked to wallet which makes it ver safe & secure. The proby here is that it is centralized. Like picoin they have not blocked the tokens. You can straightaway trade them. Still privacy is a major concern for me.

If their goal is to become the global digital currency then they are very very far from achieving their goal because I think it would require acceptance from majority of the countries around the world.
If the go the other way around by ditching government authorities then they would need the support of majority of people across various countries of the world.
Such kind of support is lacking even for bitcoin and I don't think worldcoin will be able to do this. Besides that, people will be able to mine just because they are human ? sounds funny to me.

[pakhitheboss]

I was going through the worldcoin literature and found the concept to be unique. They are using proof-of-personhood consensus instead of proof-of-work. Which means your unique identity will help you to mine the coin. Since, the goal of Worldcoin is to build a global digital currency along with an identity system that is why they are using using iris scanning technology. You can change your fingerprint but you cannot change your irish. Your irish scan being unique is linked to wallet which makes it ver safe & secure. The proby here is that it is centralized. Like picoin they have not blocked the tokens. You can straightaway trade them. Still privacy is a major concern for me.

If their goal is to become the global digital currency then they are very very far from achieving their goal because I think it would require acceptance from majority of the countries around the world.
If the go the other way around by ditching government authorities then they would need the support of majority of people across various countries of the world.
Such kind of support is lacking even for bitcoin and I don't think worldcoin will be able to do this. Besides that, people will be able to mine just because they are human ? sounds funny to me.

Agreed with your point that they would need government support. The craze of world coin is rapidly gaining support in third world countries. I stumbled upon a news which I am sharing here:  Why Kenyans are scanning their eyeballs for Sh7,000 Worldcoin cryptocurrency tokens. It seems at the moment they won't need to anything. All they need to do is to take permission from the government to install their orb in different cities and lure citizen with the offer of free token. The pic that you have published is a clear indicator that the government of India has allowed them to scan the irish of Indian. Now it all depends whether a person want to sell his irish scan for INR 4000. Those who have the knowledge of cryptocurrency would surely fall for the airdrop.

[Bureau]

Agreeing with pakhitheboss they are here because the government allowed them to. This is the problem on one side they do not want to promote cryptocurrencies and now they are allowing a project which has questionable privacy practices. Let's see how this project holds up in the crypto market.

[elevates]

What's good in this initiative if you can please elaborate ?

You have already mentioned the potential threat of this project which is selling the database to someone.
Just imagine the possible risks of getting this data stolen or sold and that will tell us if we should really be investing in this project or not.
Just as more people realize this fact and as it comes closer to reality there will be many people who would chose to exit from this project.
By then, there would have already been an exit scam from the project. This is just my personal opinion and people can DYOR.

What I meant is that it does invade privacy and can be deadly. What I did feel is that this project because of its uniqueness and originality can be a big game changer if we invested in it. I feel I was not clear and to the point earlier, this might be the reason you have asked these questions. I do agree with the risk of privacy when you are scanning your eye. Apart from the Irish they can also get details of your race and create something nasty like the COVID-19 virus. That being said the project is different and can revolutionalize identity globally if we think on the brighter side.

[teosanru]

I meant the eye balls  because that's what I read it on forbes Worldcoin: The Cryptocurrency That Wants To Scan Your Eyeballs

So world coin is basically a project co-founded by openAI CEO Sam Altman whose aim is to provide users a digital identity.
They will be doing this with the help of scanning iris from users' eye balls.

Fun fact is that I saw worldcoin team at Delhi metro station and they were asking users to give their biometric data and they would get 4000rs worth of tokens.
I didn't buy their idea and considered them a scam and then 2 days later I found their coin getting listed on binance.

That's so brave of them to advertise an altcoin in a metro station. I still remember how Unocoin CEO was jailed for opening a Bitcoin ATM kiosk. But for 4000₹ are you willing to risk your privacy? That's a major question that one should really ask. Also providing the initiative of digital identity to a private company is always highly risky and that also who is into AI, god knows what product will they really make out of this.

[pakhitheboss]

Here we go another big tech giant has found a way to convince everyone voluntarily to scan their irish. Google AI tool for retinal scan can predict cardiovascular risk. Don't know how authentic this news is as it was printed in Indian media. This new tech might be good in determining the health of human heart. Still it feels like invading privacy on the pretext of keeping heart healthy & detecting medical issues in advance.