Worldcoin, Now Valued at $1B, Has Grand Plans to Get You to Gaze Into the Orb
Summary
Depending on whom you ask, Worldcoins plan might sound futuristic and cool, a little silly, or like a dystopian nightmare ripped from science fiction. When news of the project leaked to Bloomberg in June, the media response was critical.The Orbs are handled by independent entrepreneurs Worldcoin calls Orb Operators who take the devices into the world into remote villages and metro stations and university campuses and convince people to sign up for free worldcoin with an eye scan, which the Orb uses to create a unique identifier called IrisHash that ensures the person is a human who has not collected worldcoin before.Though privacy experts have expressed concern over this plan, Alex Blania, one of the co-founders of Worldcoin, believes that the Orbs design is privacy-preserving. Blania also told CoinDesk that users names and other identifying information is never collected.Blania told CoinDesk that Worldcoin has partnered with a very big international manufacturer with a plant in Germany, which will pump out about 50,000 Orbs per year. This amount is doled out over two years, with 10% available immediately in a wallet app generated by the Orb.Worldcoin, which is built as a layer 2 system that works on the Ethereum network, has a cap of 10 billion worldcoins. And by making it shiny it gets peoples attention and they see their reflection as they stand there its a very cool and memorable [experience].