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> A.I.-powered system for evenly distributing money to the world’s population, a form of universal basic income. (...) When a person is scanned, verified, and o

by exitb 4y ago

> A.I.-powered system for evenly distributing money to the world’s population, a form of universal basic income. (...) When a person is scanned, verified, and onboarded to Worldcoin, they are given 25 proprietary crypto tokens, which are also called Worldcoins. The tokens may carry the promise of future riches, but they’re worthless unless the project launches at scale. Wait, what?

Aeolun 4y ago
They’re giving you fake money in return for your identity. What’s not to like?
- jackstraw14 4y ago
  This AI stuff and crypto are a natural match. Anyone paying attention to crypto in the last few years has seen the identity experiments happening, and we're in for a ride if OpenAI taps into this.
- rishav_sharan 4y ago
  Can we use AI to generate fake retina scans and then use that to earn fake money?
thunderbong 4y ago
Isn't that the actual definition of a pyramid scheme?
- sebzim4500 4y ago
  No, because there is no payment from new signups to people who already have tokens. It is something much more bizarre than a pyramid scheme.
- andruby 4y ago
  No. Pyramid scheme requires people to bring in new money to pay the earlier people. This is giving “monopoly” money in exchange for eye scans (under the pretense of preventing bots), and hoping for said monopoly money be become valuable
- rvz 4y ago
  If you're including the VCs that have already invested in Worldcoin(s) and have lots of pre-allocated tokens between them, hoping that new VC money + retail money with an eventual ICO happening, then yes it is indeed a pyramid scheme. Worldcoin is another 'Scam Altman' pyramid scheme, waiting to pump and dump on retail using AI scaremongering tactics.
- ashwagary 4y ago
  No but it sounds like it could fall into unregistered security territory.
pjc50 4y ago
> The tokens may carry the promise of future riches ahem Howey test Any local financial services or data protection agency should present these guys with a list of very awkward questions like "what are you going to do with this data" and "under what circumstances will these 'coins' have value".

by exitb 4y ago

Aeolun 4y ago

They’re giving you fake money in return for your identity. What’s not to like?

jackstraw14 4y ago
This AI stuff and crypto are a natural match. Anyone paying attention to crypto in the last few years has seen the identity experiments happening, and we're in for a ride if OpenAI taps into this.
rishav_sharan 4y ago
Can we use AI to generate fake retina scans and then use that to earn fake money?

thunderbong 4y ago

Isn't that the actual definition of a pyramid scheme?

sebzim4500 4y ago
No, because there is no payment from new signups to people who already have tokens. It is something much more bizarre than a pyramid scheme.
andruby 4y ago
No. Pyramid scheme requires people to bring in new money to pay the earlier people. This is giving “monopoly” money in exchange for eye scans (under the pretense of preventing bots), and hoping for said monopoly money be become valuable
rvz 4y ago
If you're including the VCs that have already invested in Worldcoin(s) and have lots of pre-allocated tokens between them, hoping that new VC money + retail money with an eventual ICO happening, then yes it is indeed a pyramid scheme. Worldcoin is another 'Scam Altman' pyramid scheme, waiting to pump and dump on retail using AI scaremongering tactics.
ashwagary 4y ago
No but it sounds like it could fall into unregistered security territory.

pjc50 4y ago

> The tokens may carry the promise of future riches ahem Howey test Any local financial services or data protection agency should present these guys with a list of very awkward questions like "what are you going to do with this data" and "under what circumstances will these 'coins' have value".