Peter McCormackThe host of the podcast “What Bitcoin Has Done” tweeted a scathing review of Worldcoin, reasoning that the project was redundant as “Bitcoin is the coin of the world”.
McCormack slammed Worldcoin with several offensive terms, including “fucking coins,” “pulling the dystopian rug of venture capital,” and “exit liquidity,” further reinforcing its already dubious reputation. .
Worldcoin Can’t Shake Its Reputation
Worldcoin came out in late 2021 and immediately sparked controversy over its goal of scanning people’s eyes in exchange for cryptocurrencies.
Company’s Vision He proposed a global participation model where people collectively benefit from a growing decentralized digital economy. Achieving this will require widespread mass adoption of the underlying cryptocurrency and encouraging new users to join on a large scale.
To manage new participants and combat duplicate registration fraud, the project promoted the use of biometric protection with Orb-iris scanning technology.
“Our approach relies on custom biometric devices, which we Orb – Validate individual uniqueness through iris recognition while ensuring privacy through zero-knowledge encryption. “
Critics expressed concerns on a variety of fronts, including invasion of privacy and the long-term goal of introducing a universal basic income. Several It’s a “flawed idea” and holds room for Orwellian control. Proponents, however, argue that the project could lead to wider adoption of cryptocurrencies and contribute to a more inclusive global economy.
This nasty reputation has plagued Worldcoin since it was first announced. However, concerns are mounting as the project recently stepped up its development efforts, including raising $115 million in Series C funding led by Blockchain Capital.
Blockchain Capital is not phased.
Van Eck Advisor Gabor Grubacs He questioned why investors would “spend money on nonsense” instead of backing Bitcoin and other truly egalitarian projects.
“VCs and fund managers continue to fund nonsense businesses with perverted incentives, yet fail to support bitcoin and real infrastructure projects that make the world a better place.“
Referring to the frantic sign-ups, especially in the developing regions of the world, on-chain detectives Zach XBT Worldcoin user said:They’re just exploited people.“
twitter account bit pane Echoing McCormack’s opinion, he predicted that the project would:Dumping of premine into the largest retailers in historyWorldcoin proponents, meanwhile, say that the project’s focus on biometrics and privacy will make it a more secure new identity verification system, as WorldID keys are reportedly self-custody. I believe that there is a possibility that
General Partner of Blockchain Capital Spencer Bogart He also said that World Coin is “A dystopian Orwellian nightmareBut Bogart said he changed his mind after a deeper look, because iris scanning could solve the problem of Sybil attacks by distinguishing between bots and humans.
“Worldcoin has a unique opportunity to establish and extend a new privacy-preserving primitive for the Internet (World ID) that allows any application to easily distinguish between machines (bots) and humans. “
