Worldcoin, a cryptocurrency project founded by Sam Altman, continues to generate interest and controversy less than a year after its official launch. Despite being questioned by cybersecurity experts and banned in some areas, the project operates in Argentina, where it has gained attention for the quick profits it offers users.
Worldcoin aims to create a global digital identity through iris scans. Users receive cryptocurrency rewards for undergoing this process, which is credited to an application acting as a virtual passport. The project addresses economic inequality and identity verification issues on the internet.
Users must be at least 18 years old and undergo an iris scan at a verification center. The scan is quick, completed by The Orb, a device that reads iris biometrics. To participate, users must also install the World App platform, which integrates with popular apps like Mercado Libre and Telegram.
After launching in Argentina, Worldcoin saw a surge in users seeking quick money opportunities. Users receive WLD tokens as a welcome bonus and continue to earn tokens every two weeks. The value of WLD tokens is volatile but can be exchanged for US dollars or Argentine pesos.
However, providing biometric data like iris scans comes with risks that Worldcoin states they prioritize privacy and do not monetize user data. Concerns about data security, potential leaks, and ethical implications remain despite these efforts.
Regulators in Kenya, Spain, and Portugal have ordered investigations into Worldcoin’s data collection practices. In Argentina, complaints have been raised about privacy violations leading to legal action and investigations by authorities.
As the debate around Worldcoin continues, individuals must weigh the benefits of earning cryptocurrencies against the potential risks of sharing biometric data. Privacy, data security
