OpenAI CEO Sam Altman. Worldcoin is a unique cryptocurrency that involves scanning people’s irises to create a global identity and will make a financial network for everyone. The project will aim to give a share of a new digital token to every human on Earth. But what is Worldcoin?
Worldcoin is a crypto project that uses a device called Orb. For instance, it will scan people’s irises to prove are unique and human and rewards them with Worldcoin tokens.
Worldcoin will be a global distribution system for Universal Basic Income, which is regular money for everyone from the government or organization to meet basic needs.
The biggest to overcome is Worldcoin the accessibility of the Orb, making it available to as many people as possible.
OpenAI & Worldcoin have many challenges and criticisms. People are concerned about the privacy and security of biometric data. For instance, the data can be used for other purposes.
After that, the plan is to launch in the first half of 2023 and distribute 10 billion tokens in total, with 80% going to users. This can reach billions of unbanked people.
Allowing developers to use its API and incorporate its tech into their apps and platforms it is wherever they wish that a user only acts once.
– Worldcoin has an ambitious vision of creating a global identity and financial network for everyone, which could potentially lead to greater financial inclusion and access to basic needs.
– The use of iris-scanning technology ensures even distribution of coins and prevents fraud.
– Enables payment, purchases, and transfers using Worldcoin and other digital assets, which could
-Make transactions more efficient and convenient.
– Firstly using biometric data raises concerns about privacy and security, and whether it will be used for other purposes.
– Secondly, the feasibility and scalability of the project are uncertain, and it remains to be seen whether it can reach the billions of people who are unbanked.
– In conclusion, The value and utility of the Worldcoin token have been in question, and it may face competition from other cryptocurrencies or fiat currencies.