Over the past few weeks, I have watched all over social media people, both young and old, millennials to Gen Z, in the rush to get their eyes scanned by an orb scanner. But why are they doing this? I got curious about this, so I had to set aside time to learn more.
After some research, I discovered that the whole thing started with a social media craze of different people claiming to be investors looking to buy Worldcoin in bulk at affordable prices. Therefore, those who don’t have the coins get filled with FOMO, which pushes them to look around for some. The next thing would be downloading the Worldcoin app to get some free coins upon registration.
This is where things start getting more interesting. Unlike many other crypto apps, to get verified to get a World ID, you must find an orb scanner that will scan your eyes for account verification. A world ID is an AI-resistant protocol that allows them to verify humans via an iris scan. Once the process is done, you will receive 25WLD worth about $50.
What is Worldcoin, though?
If I can put it simply, Worldcoin is essentially a new form of crypto and also a digital identity project. Sam Altman, the CEO of OpenAI, Max Novendstern, and Alex Blania, co-founded this new crypto. According to them, the brainchild was developed to help address the issue of income inequality via its unique feature-the World ID. This is why Sam Altman described the World ID as proof-of-personhood.
If you can scour the internet pretty quickly, you will realize that it’s a relatively new project because it was launched on July 24, 2023. I also discovered that they premise the existence of this project to three pillars: a global currency, a unique global unique digital identity, and an app that makes it possible to pay, purchase, and transfer funds in the form of a World token.
Is Worldcoin an investment opportunity or a trap?
After sparking global interest, even with the bullish forecasts by experts, including risk fears, the big question remains. Is it worth investing in, or is it just another scam? Well, this is why I am here, and we’ll go through it together and come up with a conclusion.
After reading so many reviews online, it is clear that there are lots of mixed reactions surrounding Worldcoin. Some find it cool, some remain critical, while others believe it is the future. However, when I think bank, I remember Ed Snowden, a famous whistleblower, resisting the issue of iris scans because of privacy issues; I get the heebie-jeebies.
But again, when I listen to some of the best Silicon Valley investors, who are definitely showing increased interest in this project, I’m left at crossroads. I think this is especially fueled by the era of generative AI plus human-like interactions, which makes the whole idea of Worldcoin pretty unique.
So, what is the conclusion here? This area is pretty new, which means it needs further studies to come up with a conclusive answer. However, I recommend cautiously approaching the issue after due diligence and extensive research.
Thanks for reading and have a wonderful day.