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News

Worldcoin Proves Critics Wrong, Altman Highlights Japan Triumph

July 27, 2023 - Around 2 mins mins to read

Key Points:

  • Worldcoin co-founder shares video of Japanese users queuing for iris scans in exchange for WLD tokens.
  • Users receive $50 worth of WLD tokens or 25 WLD for providing biometric data through the Orb.
  • Privacy concerns raised as ICO reportedly reviews Worldcoin’s biometric data safety.
Worldcoin is facing a falling interest in its platform.
Worldcoin Proves Critics Wrong Altman Highlights Japan Triumph 1

To address this issue, Worldcoin has come up with a unique strategy to attract more users. Co-founder Sam Altman shared a video on Twitter that showed people in Japan lining up to give away their iris scans in exchange for “free” WLD tokens. The video reveals a long queue of people waiting to collect $50 worth of WLD tokens or 25 WLD. Users are required to provide their identification through an iris scan to receive the tokens.

Altman wrote on Twitter that one person was getting verified every 8 seconds, which shows how quickly the verification process can be completed. However, Worldcoin has not yet confirmed the accuracy of the information shared on Twitter.

Worldcoin plans to set up Orb venues across the world to expedite the onboarding process on a global scale. The Orb is a biometric verification device that provides a World ID to users upon successful biometric data collection. Although Japanese investors seem to be showing interest in Worldcoin, not many Hong Kongers are sharing the same enthusiasm. The three Orbs in Hong Kong have cumulatively reported just 200 sign-ups on the first day and 600 in total.

Worldcoin Proves Critics Wrong Altman Highlights Japan Triumph

Entrepreneurs, including Twitter co-founder Jack Dorsey and Ethereum co-founder Vitalik Buterin, believe that the WLD system would be catastrophic if it worked against the ethos that the crypto ecosystem was built on – privacy, accessibility, and decentralization. Therefore, Worldcoin may face resistance from data regulators in the United Kingdom over privacy and critical biometric data safety.

Worldcoin’s unique strategy to attract more users may seem to be working in Japan, but it may not be sustainable in the long run. WLD needs to address the concerns raised by entrepreneurs and data regulators to build a platform that aligns with the ethos of the crypto ecosystem while ensuring user privacy and safety.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Altman

Critics Wrong

WLD

Worldcoin

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Worldcoin Proves Critics Wrong, Altman Highlights Japan Triumph

Key Points:

  • Worldcoin co-founder shares video of Japanese users queuing for iris scans in exchange for WLD tokens.
  • Users receive $50 worth of WLD tokens or 25 WLD for providing biometric data through the Orb.
  • Privacy concerns raised as ICO reportedly reviews Worldcoin’s biometric data safety.
Worldcoin is facing a falling interest in its platform.
Worldcoin Proves Critics Wrong Altman Highlights Japan Triumph 1

To address this issue, Worldcoin has come up with a unique strategy to attract more users. Co-founder Sam Altman shared a video on Twitter that showed people in Japan lining up to give away their iris scans in exchange for “free” WLD tokens. The video reveals a long queue of people waiting to collect $50 worth of WLD tokens or 25 WLD. Users are required to provide their identification through an iris scan to receive the tokens.

Altman wrote on Twitter that one person was getting verified every 8 seconds, which shows how quickly the verification process can be completed. However, Worldcoin has not yet confirmed the accuracy of the information shared on Twitter.

Worldcoin plans to set up Orb venues across the world to expedite the onboarding process on a global scale. The Orb is a biometric verification device that provides a World ID to users upon successful biometric data collection. Although Japanese investors seem to be showing interest in Worldcoin, not many Hong Kongers are sharing the same enthusiasm. The three Orbs in Hong Kong have cumulatively reported just 200 sign-ups on the first day and 600 in total.

Worldcoin Proves Critics Wrong Altman Highlights Japan Triumph

Entrepreneurs, including Twitter co-founder Jack Dorsey and Ethereum co-founder Vitalik Buterin, believe that the WLD system would be catastrophic if it worked against the ethos that the crypto ecosystem was built on – privacy, accessibility, and decentralization. Therefore, Worldcoin may face resistance from data regulators in the United Kingdom over privacy and critical biometric data safety.

Worldcoin’s unique strategy to attract more users may seem to be working in Japan, but it may not be sustainable in the long run. WLD needs to address the concerns raised by entrepreneurs and data regulators to build a platform that aligns with the ethos of the crypto ecosystem while ensuring user privacy and safety.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.