Worldcoin, supported by Sam Altman, is unsure whether to be a worldwide cryptocurrency platform or a unique identity system using biometrics. Problems like trouble scanning specific eye patterns and fake sign-ups make people doubt if it can work well.
In Erlangen, Germany, a special sphere from Sam Altman’s Worldcoin project had a big problem: it couldn’t scan some Asian irises properly. This issue, seen by a Tools For Humanity executive, showed the bigger problems that the project is facing.
AND… the SEC continues making questionable decisions, requesting an interlocutory appeal.
Note that it is NOT appealing whether XRP itself is a security – just its losses on the programmatic and individual sales issues. https://t.co/GziVLp23mT
— Jeremy Hogan (@attorneyjeremy1) August 9, 2023
Worldcoin’s goal seems simple: using special body features to make sure people are really themselves in a new worldwide cryptocurrency system. But making it happen has been hard. The problems might come from the data used to teach the system. The data mostly came from Black and white people’s eyes, so it wasn’t ready for the many differences in how people look.
AND… the SEC continues making questionable decisions, requesting an interlocutory appeal.
Note that it is NOT appealing whether XRP itself is a security – just its losses on the programmatic and individual sales issues. https://t.co/GziVLp23mT
— Jeremy Hogan (@attorneyjeremy1) August 9, 2023
Worldcoin faced more than just iris scanning issues. There were problems that let one person sign up multiple times, which goes against their idea of making sure each person is unique. They had to update their software to fix this.
Worldcoin’s story has been changing. At first, they looked like a strong cryptocurrency platform. But lately, they talk more about being good at checking who people really are using their body features. This might be because of competition from crypto rivals like FTX and a bad mood in the market.
In July, they launched their tokens, which was a relief, but not for long. There were problems, and many users had trouble getting their tokens. Plus, governments, especially in Kenya, worried about how they protect data.
Worldcoin’s change isn’t just about technology—it’s bigger. The CEO, Alex Blania, said they want to make a private way to show who you are and use money. So, they’re trying to change how money moves with a special kind of money. And they’re trying to make a new way to prove who you are.
Sam Altman, who’s behind big projects like OpenAI, is aiming high with Worldcoin. But their shift between crypto goals and using body features makes people wonder: Which one will they choose in the end?
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
