by Orbital Blogs
On a recent Bankless interview, Sam Altman and Alex Blania were hosted and specifically asked about the details of WorldCoin’s token distribution. Everyone is understandably angry and suspicious at their response, which was: “Look, many of the details we can’t talk about here for the regulatory uncertainty in the United States.”. This ignited a ton of genuine distrust. Twitter users are now afraid this might lead to a scary big brother scenario — a reference to the book 1984 which discusses a view of what the world would look like if we let technology get the best of us.
The Twitter user (@Pledditor) posted:“When a crypto founder refuses to answer questions about token distribution🚩🚩🚩”
Not to mention how most ponzi schemes start exactly like this. How are we supposed to trust the CEO of an ai bot? His company isn’t even the best, so what gives him leverage over someone like Sundar Pichai? What qualifies the CEO of any company to publicly want to control the world through a crypto that’ll aim to make everyone sheep through universal basic incomes???
It has been proven that Worldcoin had exploited over 500,000 economically disadvantaged individuals to gain their first set amount of users onto their biometrics database. Not to mention a massive lie in their very own white paper which says “we aim to distribute coins equally to everyone” — it now turns out that investors and project founders had received 20% of the token’s supply. This was probably why they didn’t deep dive into their project’s tokenomics. It would’ve revealed that they wouldn’t be distributing tokens equally and that they own a solid 50 MILLION DOLLARS of the token’s market cap at the valuation of time of writing.
Worldcoin also sits at #117 on the coin market cap website.
Isn’t it peculiar that only 1% of WLD is actually in circulation? The rest are in wallets.. sitting idly.
The inventor of Ethereum, Vitalik, fears that Worldcoin could capture much more data than meets the eye, including a person’s sex, ethnicity and certain medical conditions through their eye scanning tech. (The eyes reveal a lot)
What if Vitalik knows more than what meets the eye? How would this effect the token’s valuation? It’s difficult to say as he is a rather private individual. All we can hope is that Vitalik isn’t personally invested into the project with his grand networth of 1.5 BILLION dollars.
This is the end of this story. I hope you’ve learnt a lot and stay tuned for more interesting posts.