Worldcoin isn’t as bad as it sounds: It’s worse

Worldcoin is a financial system that relies on sensitive biometric information, primarily collected from impoverished individuals. This concept is not just terrible but goes beyond that. Worldcoin requires a massive database of iris data, which led them to pay people in the global south, where eyeballs are cheapest, to scan their eyes. However, this approach has created a black market for verified credentials, with World IDs being sold for as little as $30. Trust is a major issue in this system, as Worldcoin’s promises to delete biometric data and protect sensitive information are not enough. The co-founder’s association with OpenAI, which is facing allegations of dubious data usage, raises more questions. Worldcoin also claims to use zero-knowledge proofs for privacy, but this seems more like theater than substance. The idea of linking biometric traits to money has dystopian consequences, as losing one’s digital identity means losing access to funds. The distribution of Worldcoin tokens also raises doubts about its supposed egalitarian ambitions, as insiders are allocated a significant percentage. Worldcoin’s market structure is designed for manipulation and pump and dump dynamics. In summary, Worldcoin is just another data-harvesting financial system, lacking innovation and equality.

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