Worldcoin is finally launching its token $WLD. All major CEXs, listed the tokens. But do you know WorldCoin ? Is it the biggest #airdrop of all time, the future of cryptocurrencies, or a scam ? Let's try to learn more about it together Today, you won't be able to miss this news :
#WorldCoin is launching its token #WLD. This announcement was accompanied by the following statement & many tweets from biggest CEXs, including #Binance , expressing their intention to list this token
🔸To start, what's WorldCoin ? It's a project develloped since 2019, by #OpenAI chief executive Sam Altman So, it's the company behind ChatGPT that is developing a project related to cryptocurrencies
Before delving deeper, let's take a look at the backers 💰 Worldcoin has already raised over $125 million in two funding rounds, including notable investors such as Coinbase Ventures and A16Z. Unofficial sources also mention prestigious private investors like Elon Musk
🔸What is the purpose of WorldCoin? In simple terms, Worldcoin aims to provide a universal basic income periodically to all unique individuals worldwide, enabling them to meet their essential needs Users can participate in the global economy of WorldCoin through a mobile application & scanning of their iris You're already asking questions about data protection; we'll address that later
🔸What is the goal of WorldCoin ? The rapid evolution of artificial intelligence raises many issues, including the problem of proof of humanity WorldCoin would be to provide each human being with a World ID, a 'passport' using biometric data from their iris .The World ID is a decentralized identity solution It allows each user to prove that they are a unique and real individual while remaining anonymous. To obtain a World ID, one must undergo iris scanning using a device called the Orb
What is an Orb ?
It's a metallic sphere that resembles a giant eye. It captures an image of the iris, encrypts it, and converts it into a unique digital code. This code is then stored in a distributed and secure database called the blockchain
The World App A mobile app that enables users to access WorldCoin network & receive WLD tokens for free in exchange for verification by the Orb Additionally, users can manage their token wallets, send or receive tokens, & exchange them for other cryptocurrencies or fiat
Worldcoin Token $WLD Is the native cryptocurrency of Worldcoin network & serves as the means of payment & exchange. It also symbolizes user's membership in the Worldcoin community. The WLD is intended to be a universal currency, accessible to all, stable, and long-lasting
Another ways to obtain the token for free ? Several months ago, the NFT "Introducing World App" was mintable on #Ethereum It is now tradable on OpenSea. There are speculations about an airdrop for the holders. Personally, I own one, but I don't believe in this hypothesis 13/ It's up to you to decide if you want to buy one to speculate Personally, I don't recommend it, but I don't have any more information than you do on this subject. If needed, here is the genuine OpenSea link, don't buy a scam ! https://opensea.io/collection/world-app
The Dark Side On paper, the project is appealing, but you must absolutely apply a critical mindset. Allow me to present the negative points currently surrounding this project
Tokenomics At the moment, we have very little information about the tokenomics The total number of tokens is of little importance. The most crucial factor is the token distribution, and on that matter, we currently know nothing
Data Protection Worldcoin ensures that users biometric data is protected & encrypted, however security issues have been reported in 2021 Several computers responsible for managing biometric data were hacked Improvements were made in 2022, implementing ZK proof technology Zero Knowledge proof technology enable anonymous transactions But several experts agree that these measures are insufficient to guarantee the security of your data However, colossal financial interests are at stake, so information released should always be taken with caution
ID Reselling An article from TechCrunch claims that hackers would have installed password-stealing malware on the devices of multiple Worldcoin Orb operators, giving them full access to the Worldcoin operator dashboard According to an artcle from CoinDesk, the stolen data would have been put up for sale A black market emerged on Chinese social media and ecommerce sites Sellers were offering KYC verifications for the World App, which offers wallet and ID services
Conclusion : A massive amount of information is flooding social media about WorldCoin today I don't have a definitive positive or negative opinion on the project. I strongly advise you to conduct thorough research if you are considering investing in its token
