What is it??
A crypto project by AI wizard Sam Altman, yea the same guy who headed the ChatGPT.
What does it do??
Using a futuristic looking toy called the orb, the company scans the iris of folks installing the world coin app. This, it claims will help to create a tamper proof record of folks getting rewarded a basic income.
Is UBI a great idea??
It is great, if the idea is to create an inclusive society. But, if few companies hold the data of a larger populance, it simply increases the chance of mass surviellance and misuse of data. The correct way to create a working model of UBI is to create a DAO, and then keep on improving it to meet the needs of the society.
Future implications
Such programs can only work if everyone is bought together to create a shared model of value sharing, which worldcoin currently lacks. If this app succeeds in improving it's privacy issues and changes it's organizational structure, it could herald a golden period of inclusive finance, where major redistribution of wealth could take place. Thus enabling the weaker sections of society to find a voice for themselves. In short, it is the common folks that must derive the utmost benefit from such apps, and not the creators.
End
Note: Image generated are A.I and author's imagination.
Good day
