Worldcoin- What it is and Why it is Controversial

Technology has changed the world in many aspects, trade being one of them. The means of acquiring and exchanging currency has been digitized paving way for Cryptocurrency (crypto), a digital currency working as a medium of exchange through computer network. It’s not regulated by any central authority. Some cryptocurrencies include Bitcoin, Ethereum and Worldcoin.

What’s the fuzz about Worldcoin?

Unlike other cryptos, Worldcoin offers people a token without requiring any upfront investment funds. This is arguably what has got hundreds of individuals queuing for hours to acquire it. I mean, who’s not down for free money!

To acquire Worldcoin, you download the World App then get your eyes scanned by a device called the Orb, which is distributed in facilities across 35 countries. The Orb then generates a special identifying code (world ID) given to you as proof you are real, not a bot and unique person online.

The Controversy

Privacy concerns have risen with many citing the fact that people’s data are taken without knowledge of how it’s handled. As a result, the Kenyan government, for example has suspended its activities in the country to pave way for meticulous investigations on its legality of operations and for the safety of Kenyans.

With over 2.2million people already signed up since its launch in late July, Worldcoin plans to sign up more global users as it aims to help create a global economy for all regardless of country or economic status.