this post was submitted on 24 Jul 2023
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Technology

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The token has been controversial in Silicon Valley for its ambitious and unorthodox approach to trying to solve two vexing problems: Online identity authentication and income inequality.

...

The token economics — a breakdown of how the tokens will be distributed — will be made public Monday, the people said.

Tools for Humanity has offered people around the world free Worldcoin tokens, called “WLD,” in exchange for scanning their irises with a device called “The Orb.” The iris scans ensure that each person can have only one Worldcoin ID.

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[–] [email protected] 65 points 1 year ago

Babe wake up, new scam for idiots just dropped

[–] [email protected] 47 points 1 year ago (1 children)

Universal Basic Income is not a technical problem but a political decision. This new coin does not solve social or economical inequality. Its just a new comtetitor in the field of cryptoscam.

[–] [email protected] 14 points 1 year ago

Very much so.

If this coin's math and mechanics actually work in transferring wealth from rich to poor ... it'll be swamped in poor people wanting their cut, and rich people will want nothing to do with a shitcoin that's explicitly going to take their money and give it to other people.

[–] [email protected] 35 points 1 year ago* (last edited 1 year ago)

They're not even launching in the USA because the SEC might kick their shit in. This is basically an overcomplicated scheme to harvest biometric data from impoverished foreigners. There's already been fraudulent signups from people trying to exploit the world's poor. It's dumb AF.

[–] [email protected] 32 points 1 year ago (1 children)

New surveillance capitalism just dropped.

[–] [email protected] 6 points 1 year ago

I guess this is the endgame for tracking every user in the world but they added "universal basic income" in the title so that its not so obvious what they are up to?

[–] [email protected] 17 points 1 year ago

Only the nerds in Silicon Valley could come up with a technical solution to such massive problems as income inequality. How can supposedly intelligent people spend more than 1 second thinking that makes any sense?

What's next, are we going to make an app to answer vexing questions like "why does evil exist"?!

[–] [email protected] 15 points 1 year ago (1 children)

It’s 2023 and these tech bozos are still pushing crypto… lol

[–] [email protected] 6 points 1 year ago

It's web 3!!!!!! /s

[–] [email protected] 14 points 1 year ago (1 children)

"The Orb"

How the fuck do they come up with stuff like this and then say they're the good guys? The Orb? What's next, The Spire?

[–] [email protected] 5 points 1 year ago

I'm partial to Defectcoin, if only for claw-based shenanigans.

[–] [email protected] 13 points 1 year ago

Renknowned con artist announces newest con. Wow I never saw this coming.

[–] Jagget 11 points 1 year ago
[–] [email protected] 9 points 1 year ago

When the guy who made the AI hype wants us back in the crypto hype...

[–] [email protected] 3 points 1 year ago

We are the children

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