1. Waterfall market, WLD surges after going online
Yesterday, BTC finally fell below the 29500 support line at the lower edge of the box. Altcoins also experienced a small waterfall, but WLD was listed on multiple exchanges at the same time. Binance, Bybit, OKx, Gate, and Houbi were listed on one coin at the same time. Yes, it can be said that I will see you for a long time.
On the other hand, 90,000 addresses received WLD airdrops, each address received 25, and the online reach reached 3U. According to the cost of purchasing a Southeast Asian iris scanning ID of 28U at that time, it was considered an annualized rate of nearly 300%.
So, is WLD (hereinafter referred to as World Coin) a King of Heaven or a Death of Heaven project? What is the purpose of such a famous project with a rustic name?
2. Is the founder of World Currency the new Iron Man or the new Musk?
Before eating eggs, first look at who laid the eggs.
The founder, Sam, also has another title, CEO of OPENAI. He also comes from a Jewish family, was also a technical genius since childhood, dropped out of the prestigious Stanford University to start a business, and also wanted to change the world.
This WLD is only a quarter of Sam's business territory. The full picture is as follows:
OpenAI will replace most human jobs by creating general artificial intelligence, obtain most of the world's money, and then redistribute this wealth to people. It will solve the problem of human energy limit through Helion and ReviBio, while Worldcoin will solve the problems of human identity proof and resource allocation in the future world.
Oh my god, the last guy who spanned so many business sectors and tried to influence the future of mankind was Musk!
And is Sam the new Musk?
As luck would have it, Sam and Musk were partners while working at the well-known investment institution YC.
The story begins in 2015, when two tech giants, Sam and Musk, struck up a similar rapport at a party and decided to create an interesting project together. Their goal is to build an artificial intelligence company called OpenAI, not for profit, but to make AI friendly to humans and benefit the world. They even plan to make the source code of AI public to the world, so that everyone can share this technology and make the world a better place.
However, in 2018, there was a little twist. Musk decided to quit OpenAI, and he explained outside that this was to avoid conflicts of interest with his other company, Tesla. You see, Tesla is developing its own AI for autonomous driving technology, so he felt that it was not right to stay on both sides. But I heard that the real reason behind it is a bit confusing, perhaps because of the power struggle within the company, we don't know.
3. How does World Currency solve the problems of human identity and resource allocation?
The idea of World Currency is to use Orb, or iris scanning technology, to allow people to prove that they are individuals and then enter the digital asset world of WEB3. Most of the world's money will then be distributed to people in a decentralized manner, so that people all over the world will not be unable to survive due to the development of AI, and the future technological world will be prevented from becoming a terrible world of resource monopoly and dictatorship by a very small number of technology fanatics.
Here I would like to insert an advertisement for Liu Cixin. The "end producer" in "The Sustaining Humanity" means the ultimate end, which means that only one person controls almost all the wealth, air, land and water in the world. If you are interested, you can go and watch it yourself.
This concept is based on the following premises:
First, in the future, all the money in the world will be earned by Sam, because his AI will complete most of the production work of humans, so Sam is very responsible to consider how to distribute the money to the world in the future;
Second, the most decentralized money in the future is digital assets, so hundreds of millions of people must be able to easily enter the web3 world;
Third, the most effective and decentralized way to avoid uneven distribution is to use a real person, rather than a non-unique ID such as an ID card, encrypted wallet address, or bank account.
Because the rich have the financial resources to forge many IDs to pretend to be 10,000 people. Then the only equal difference between the rich and the poor is the difference in physical characteristics. Iris and fingerprints are both unique, so WorldCoin chose iris technology.
Fourth, to solve the problem of fake ID, don’t we have traditional KYC or other identity recognition systems like cameras? WorldCoin believes that these methods will exploit people’s privacy on the one hand, and on the other hand, they are not decentralized. Once the traditional identity authentication system is in a totalitarian country like North Korea, the uniqueness of a person will become the property of the government and no longer have individual sovereignty.
4. Can this idea be realized?
At present, it cannot be said that it cannot be achieved, but the flaws are huge, which brings us to Vitalik Buterin’s long article about World Coin.
Vitalik Buterin usually posts long technical articles, which are very tiring to read. As a leader in the crypto industry, Vitalik Buterin's insights into human society and crypto technology are unmatched, so you have to read them. But Vitalik Buterin is not a self-media person after all, and if you don't understand or can't continue reading, it's your level.
Then I will give a simple interpretation of Vitalik Buterin’s long article “My Views on Worldcoin and Proof of Personal Information”.
By the way, Vitalik has posted a series of long articles recently. It seems that Ethereum should be stable after the Cancun upgrade, and the bull market should be stable next year, otherwise he would not be so free.
Back to the point, in the long article, Vitalik Buterin believes that the huge flaws of the Worldcoin solution are as follows:
First, privacy issues still exist.
The iris scanning process is to scan your iris with Ord, and then compare it with the iris in the database to determine whether you have a World ID. This process, whether it is the iris registry or the iris is left intact in the centralized database, may lead to privacy leakage.
Second, accessibility is poor.
What is accessibility? It means that people can easily find the entrance to use Worldcoin. Originally, Worldcoin wanted to be a convenient interface for people in the traditional world to access WEB3. However, producing hundreds of millions of Orbs to cover the whole world requires a lot of time and cost. The local economic development level also determines whether the Orb can be easily installed. On the other hand, some local governments will not allow Orbs to be seen everywhere for other reasons. For example, the EU GDPR regulations stipulate that any data running within the EU or involving EU residents is subject to EU supervision, and failure to fully protect data will be fined. This means that some major countries and developed regions cannot popularize Ord.
Third, the risk of hardware equipment centralization.
Because it can only be done through the Orb hardware interface. Does this hardware have a backdoor? Is the open source code really in use? If there is a bad Orb manufacturer, when it has collected a large amount of iris information, or forged a large amount of iris, and has flown to Fiji to hug beautiful women and enjoy the beach, the punishment for the evildoer is very weak.
Fourth, the issue of security.
Security issues include but are not limited to the following issues.
For example, in the future, you can 3D print dummies to register fake identity information.
For example, the irises of people in some poor countries were used without their knowledge and sold cheaply. The IDs used in the previous airdrop came from residents of Southeast Asian countries contacted by Brother Mask.
For example, after a large number of users’ mobile phones are attacked by hackers, their private keys may be lost. Of course, hot crypto wallets also have this problem.
For example, some malicious countries can install blurry Orbs in places where facial recognition is performed to forcibly collect residents' iris information.
So are there any good solutions to the above problems? Are there any other solutions? Can the native encrypted digital identity system inspire the world currency? What other obscure but important technical path deductions and wealth codes does Vitalik Buterin deduced in his long article?
We have the opportunity to further interpret and analyze.
Of course, we have to ask, why do we care so much about WorldCoin?
Because if Sam is really the next Musk, grasping the Worldcoin at the right point in the near future is equivalent to buying Tesla stock with 17 US dollars in 2011, which is now more than 40 times.
Isn't Sam's ideal bigger? He wants to earn most of the world's money. So based on 10 billion coins, the world's current value is 100 trillion US dollars. Just do the math.
Of course, this is just Sam's wild imagination and does not constitute any investment advice.
But since Musk, who boasted so much before, didn’t take it seriously, Sam’s World Coin is still worth your further study.
