Worldcoin, co-founded by Sam Altman, Max Novendstern, and Alex Blania in 2019, aims to create a decentralized digital ID using biometric technology. With over 2 million eyes scanned, the project seeks to address wealth concentration from AI advancements through Universal Basic Income (UBI).
1️⃣ Technology:
The Orb scans eyes to generate a World ID, preserving privacy by uploading a hash to Ethereum's Optimism. The World app facilitates QR code creation and scanning associated with iris scans.
2️⃣ Tokenomics and Market Conditions:
WLD tokens have an initial supply of 10 billion, with a large portion allocated to the community. Concerns include rumors of OTC deals and daily token unlocking, potentially leading to price drops. The price is currently between $2 and $2.25, with a breakout above $2.5 needed for a rally to $100. Without it, the price may fall to around $1.8.
3️⃣ Risks and Criticisms:
Potential risks include regulatory challenges, data privacy breaches, and misleading claims about decentralization. Critics highlight the project's mission shift and the possibility of governments adopting Worldcoin's technology.
4️⃣ Future Prospects:
Worldcoin's open-source roadmap focuses on decentralization, governance, and expansion to Solana. Plans include introducing on-chain credit scores and enabling users to create their own orbs.
While Worldcoin's ambitions are lofty, it faces significant hurdles that require careful management to achieve its goals.
