The Launch of WorldCoin

A new player has emerged in the digital identity space. Rather than enduring a long wait at a traditional DMV, individuals can now book an appointment at an "Orb." Yes, you heard that right!

Instead of obtaining a driver's license, you’ll scan your irises to receive a “privacy-preserving digital identity” known as a World ID. If this sounds puzzling, you're not alone; let’s break it down.

This week, Sam Altman introduced a project called WorldCoin, which has been in development for over three years, amassing over $250 million in funding from notable investors such as a16z and Khosla Ventures. Currently, there are more than 150 Orbs operating in 35 cities around the world, issuing World IDs. This digital passport essentially verifies your humanity—similar to a captcha—but it's stored on the blockchain, ensuring that your identity remains confidential.

Once you have a World ID, you can download the World App wallet and earn $WLD tokens as a reward. Yes, this is indeed linked to cryptocurrency!

What’s the Big Deal?

So, what’s the core purpose behind all this?

WorldCoin suggests that having proof of identity like the World ID could facilitate several outcomes, including helping social platforms eliminate bots, enabling fair distribution of universal basic income, and reducing fraud in loyalty programs.

However, skepticism looms large in the crypto community.

Prominent figures like Vitalik Buterin, the creator of Ethereum, argue that WorldCoin is overly centralized, which could lead to significant privacy breaches and diminish users' ability to maintain anonymity online. Furthermore, concerns arise about authoritarian regimes potentially accessing this data.

Even Jack Dorsey, co-founder of Twitter, simply remarked, "cute." Although we have confidence in Sam, many of us might hold off on visiting the Orbs just yet.

Poll of the Week: Your Thoughts on WorldCoin

Now it's your turn—are you a WorldCoin advocate? Let your voice be heard!

• I'm booking my orb appointment right now
• I'm staying away for a while
• I want to see what others think

Participate in our polls and subscribe to receive more content straight to your inbox!

Quick Headlines

• Elon Musk has rebranded Twitter to "X" (x.com), but the transition seems a bit clumsy since many elements still reference Twitter. Let's keep the verb "tweet" alive!
• Interestingly, Meta and Microsoft also hold trademarks for "X," which could lead to legal complications for Elon. Who’s advising him?
• Spotify has raised its subscription prices for the first time by a dollar per month.
• Sergey Brin, co-founder of Google, has been spotted at Google offices several times a week, contributing to the development of the new AI model, Gemini.
• The ChatGPT Android app has officially launched this week.

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Thursday Memes

😂 That wraps up this week! Catch you next Thursday!

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Discover the potential dangers and implications of WorldCoin in this detailed analysis.

Get an introductory overview of WorldCoin and its significance in the cryptocurrency landscape.