The co-founder and CEO of CryptoQuant says that Sam Altman’s new altcoin project is “attempting to create colonies.”
“The reason why English has become a global language is that the British Empire had many colonies.
The same goes for a global currency like Bitcoin and CBDC (central bank digital currency).
Worldcoin is currently attempting to create colonies by encouraging people to install their digital wallet apps.”
The analyst also shares a video originally posted by Altman claiming that one person is getting “verified” by Worldcoin’s “Orbs” every eight seconds.
“The problem is, Worldcoin is against BTC.
They officially said, WLD is better than BTC because Bitcoin is just in the hands of a very few rich people.
It’s hypocritical of them since insiders hold a 25% allocation according to Coindesk.”
According to Ki Young Ju, even Worldcoin’s iris verification scan could potentially be faked by generative artificial intelligence (AI) technology.
“What if a new AI model trains iris images?
It’s like endlessly adding hidden secrets to a paper dollar to increase forgery costs. The same goes for biometrics.
Keeping those secrets requires law enforcement power. Worldcoin could potentially come under government control.”
In summation, the CryptoQuant co-founder sees both good and bad in the emerging project.
“World ID: Great idea for global biometrics infra to combat AI fake identity.
World App: Great wallet app that could accelerate global crypto adoption.
World Coin: Centralized money attempting to be a global currency using ‘humanity’ narratives.”
WLD is worth $2.17 at time of writing, down 0.2% in the last 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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