Universal Basic Income

Mirror

Worldcoin

Orbs

Worldcoin’s introduction of iris scanning to verify human identities in exchange for digital currency may seem like a plot straight out of a Black Mirror episode, but this is no fictional tale; it is a present-day project within the realm of Web3. 
Worldcoin, operating on Optimism, has raised concerns about whether it contradicts the decentralized promise of Web3 by essentially centralizing biometric data. 
Despite more than 2 million individuals from underserved areas already participating in this initiative to receive 25 WLD (valued at less than $100 at present) in return for sharing their biometric data, there are serious privacy risks and potential for exploitation by malicious actors. 
The rationale behind Worldcoin’s creation lies in addressing the anticipated externalities of its sister company, OpenAI, which has given the world AI products like ChatGPT. 
In their vision, Worldcoin aims to increase economic opportunities, establish a reliable way to differentiate humans from AI online while preserving privacy, enable global democratic processes, and potentially pave the way for AI-funded Universal Basic Income (UBI). 
However, the project’s centralization by a single company raises new issues. Biometric data, particularly iris scans, is highly sensitive and can reveal intimate details about an individual, such as sex, ethnicity, and even potential medical conditions. 
Granting one entity control over this data poses serious privacy concerns, as it opens the door for unauthorized monitoring and tracking of individuals without their consent. 
There is also the risk of commercial exploitation, where the data could be used for targeted advertising or sold to other entities, contrary to the privacy-oriented goals many have been striving to achieve. 
Moreover, centralizing biometric data makes it a tempting target for hackers and cybercriminals. 
Such a “honeypot” situation could lead to massive data breaches, resulting in identity theft, fraud, and unauthorized access to the personal information of millions. 
The issue goes beyond privacy and security concerns. 
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If the company possesses biometric data from foreign citizens and provides them with UBI payments, it could potentially compromise the sovereignty of countries’ democratic processes. 
Governments could subpoena the data without warrants, allowing for manipulation, dissent suppression, and surveillance on an unprecedented scale. 
When individuals visit Worldcoin’s Orbs for iris scanning, they are handed a sticker proclaiming them as “Verified Human.” 
This portrayal of personhood as a mere human in a vast biometric database raises discomforting questions about the erosion of personal identity and the consequences of selling one’s data to a cryptocurrency project with connections to AI development. 
In conclusion, while Worldcoin may have noble intentions, the potential risks and consequences of centralizing biometric data for financial gains raise valid concerns. 
It is essential to strike a balance between technological advancement and safeguarding individual privacy and sovereignty in the digital age. 
Sometimes, reality can be more unsettling than fiction, and it is crucial to carefully consider the implications of such projects on society as a whole. 
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Worldcoin’s Iris Scanning Project Raises Privacy and Sovereignty Concern

Crypto Intelligence

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