Crypto mania Education

Are you vulnerable to Worldcoin? Biometric data for humanity, UBI and utopian?

Editors

10 second read : Worldcoin is a cryptocurrency project that aims to address income inequality through its unique World ID feature, which will serve as “proof-of-personhood”4. However, there are concerns that Worldcoin may be a scam due to various reasons. Centralized or Decentralized ID ? Universal Basic Income, AI for good, so many buzzwords added to a VC funded project that is here to destroy you just like many pump and dump scheme. Watch this video https://youtu.be/Hj4U8Jj1xZg and watch this review too from MIT Technology Review https://www.technologyreview.com/2022/04/06/1048981/worldcoin-cryptocurrency-biometrics-web3/amp/

Worldcoin scanning orb in action

France’s privacy watchdog says Worldcoin legality “seems questionable https://luminews.my/news/1458394

  • Lack of Transparency: According to MIT Technology Review, Worldcoin has been accused of deception and exploiting workers3. The review also found that the company had built a biometric database of half a million test users, but it was unclear how the data would be used3.
  • Fraud and Abuse: Worldcoin’s digital ID system requires users to scan their eyeballs to create digital credentials and receive Worldcoin tokens1. However, there are concerns about fraud, abuse, scams, and bots2.
  • Mysterious Giveaway: In an interview with MIT Technology Review, a Kenyan university student who participated in a Worldcoin registration event believed that the mysterious giveaway was a mass data collection effort disguised as some kind of secret, offline airdrop3.
  • Data Collection: Critics have warned that Worldcoin may be collecting more personal data than necessary, sparking an investigation by the UK’s data protection watchdog5.

While Worldcoin has received support from reputable figures, including Sam Altman, there are still concerns about its legitimacy6. In conclusion, the lack of transparency, concerns about fraud and abuse, and data collection practices have led some to believe that Worldcoin may be a scam.

And there is more.. “Trust me bro” mentality

Worldcoin’s controversial collection of biometric data has raised concerns among privacy experts and data protection watchdogs. The project requires users to scan their eyeballs to create digital credentials and receive Worldcoin tokens1.

The German data watchdog is currently investigating the project due to privacy concerns3. Critics have warned that Worldcoin may be collecting more personal data than necessary, sparking an investigation by the UK’s data protection watchdog5.

Sam Bankman-Fried and Three Arrows Capital have also been linked to Worldcoin, raising eyebrows in the crypto community2. In addition, Worldcoin has been accused of deception and exploiting workers6. The project has built a biometric database of half a million test users, but it is unclear how the data will be used3.The controversy surrounding Worldcoin’s biometric data collection practices highlights the importance of protecting personal data and ensuring transparency in cryptocurrency projects. The involvement of prominent figures like Sam Bankman-Fried and Three Arrows Capital in controversial projects like Worldcoin also raises questions about their ethical practices.