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Sam Altman’s Worldcoin token to launch Monday (www.semafor.com)

submitted 1 year ago by [email protected] to c/[email protected]

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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] 48 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.