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Sam Altman’s Worldcoin token to launch Monday (www.semafor.com)
submitted 3 years ago by to c/technology@beehaw.org
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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.

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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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[–] 66 points 3 years ago

Babe wake up, new scam for idiots just dropped

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    [–] 48 points 3 years ago (1 child)

    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.

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  • [–] 14 points 3 years 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.

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    • [–] 36 points 3 years 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.

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    [–] 33 points 3 years ago (1 child)

    New surveillance capitalism just dropped.

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    • [–] 18 points 3 years 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"?!

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    [–] 15 points 3 years ago (1 child)

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

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    • [–] 15 points 3 years ago (1 child)

    "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?

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    • [–] 13 points 3 years ago

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

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    [–] 11 points 3 years ago

    https://web3isgoinggreat.com/ Nuff said

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    [–] 9 points 3 years ago

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

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    [–] 3 points 3 years ago

    We are the children

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