Ex-Ethereum developer calls Open AI founder’s Worldcoin project ‘unrealistic and scary’
Hoping on the success of OpenAI’s ChatGPT, its founder Sam Altman is reportedly seeking $100 million in funding for his cryptocurrency project Worldcoin. The project had already raised $100 million last year at a $3 billion valuation from big investors including Andreessen Horowitz and Coinbase’s venture capital arm.
However, former Ethereum core developer Hudson Jameson, who now works at Polygon Labs, believes the Worldcoin plan is “unrealistic and scary.”
This crypto project uses a device called an orb that scans an individual’s iris to determine if they are human. World Coins will be awarded to those who participate and sign up by scanning their iris. The idea is to use iris scanning technology to create a global identity system that provides access to the world currency, WorldCoin.
Jameson said he was uncertain about Worldcoin’s rollout as the Worldcoin project has ambitious plans to introduce tens of millions of users by 2025. Jameson also expressed concerns about the transparency of the project.
on twitter threadhe pointed out:
“On our last check, we found no indication of any publicly accessible plans to address the enormous socio-economic problems that would vary from region to region. The group doesn’t exist either, and if it does, it doesn’t advertise it.”
Jameson went on to question the project’s tokenomics, calling it “suspicious.” According to Jameson, 80% of Worldcoin’s supply will be available to the public, with investors and teams each owning 10% of the supply. he added:
“So how does a fair global currency come about? Are there analyzes to prevent wealth inequality in specific regions?”
Jameson added that the project is trying to solve a global problem “without knowing what else would solve that problem, other than building cool technology.” As a stern remark, he concluded that Worldcoin’s success is unpredictable.
However, a research engineer at Worldcoin said, Said He said the project’s token distribution is “pretty good” compared to other popular tokens.
Jameson is not the only one to question the future of Worldcoin.Ethereum core developer Tim Beiko expressed He questioned it, saying that “cheap, open-access FaceID” could make WorldCoin “obsolete.”
Former Ethereum Developer Says OpenAI Founder’s Worldcoin Project Is ‘Unrealistic And Horrible’ First Appears On CryptoSlate.