Worldcoin, an ambitious but also controversial cryptocurrency project, has been making headlines since its launch last month. The project collects people’s biometric data by scanning their eyeballs via a metallic orb. Its goal is to create a proof-of-personhood system that allows it to distinguish robots from humans in the budding era of artificial intelligence.
But the project has raised numerous concerns among regulators and privacy advocates around the world due to an alleged lack of transparency regarding the methods the organization is using to collect people’s data.
A single company gathering millions of people's data can potentially create a data privacy threat.
Moreover, some investigative reporters have shed light on unethical and deceptive methods used by the organization to collect people’s data in the Global South. In particular, the organization has been giving out its native token, WLD, as an incentive to sign up, allegedly using “deceptive marketing techniques."
Currently, the token has no real use case, and it is largely a speculative instrument on the future success of the Worldcoin project.
In our latest Cointelegraph Report, we broke down how Worldcoin works and tried to figure out how grounded the concerns around it are.
Watch our full report on the Cointelegraph YouTube channel and don’t forget to subscribe!