4 ms·
It always comes down to trust. With WorldCoin you have to trust a private company which in turn trusts random "Orb Operators" to operate the Orb devices which y
by eis 3y ago
It always comes down to trust. With WorldCoin you have to trust a private company which in turn trusts random "Orb Operators" to operate the Orb devices which you again have to trust. For a system which wants to be used for UBI and voting the incentives are too strong to not to abuse this big amount of required trust.
It doesn't matter if the source code and hardware plans of the Orbs are made public if we can't inspect a given Orb. Who's to say if that Orb doesn't generate 10% more IDs for someone than real ones.
You think those concerns are theoretical? Well there has been already abuse before the project officially was launched: https://www.technologyreview.com/2022/04/06/1048981/worldcoin-cryptocurrency-biometrics-web3/ https://www.technologyreview.com/2022/04/06/1048981/worldcoi...
And then there is the inflationary nature of the coin itself due to the weekly issueance of coins for each user. This gives an incentive for the people behind the project like Sam Altman and Andressen Horowitz to cash out their part. They allocated 20% of the whole supply to themselves. A quarter billion dollars was put into the project and you can bet they'll want a good return on it while trying to portrait it as something like a charitable project.
I remain very sceptical.