When Sam Altman, the CEO of OpenAI, devised an app that gave away money just by scanning the eye on a steel ball, many were wary of the generosity of WorldCoin, a firm not known for charity.
Apparently, the opacity in the processes and the strange way in which this plan has been executed is causing serious doubts throughout the world and there are already more than ten countries where it has been prohibited.
To this is added a former developer of WorldCoin, the cryptocurrency to create a supposed universal income, who warned consumers not to use this platform due to the lack of clarity that offers.
This is Nadir Hajarabi, a young programmer who jumped off the WorldCoin boat, since he did not like what he saw behind the scenes. Something that he wanted to show everyone through a video on social networks.
The young man claims that he was an employee of the firm before the launch of the token and after the White Paper. It is worth mentioning that Hajarabi did not specify what the problems are, due to recommendations from his legal advisers.
However, he highlighted that the main concern is not knowing what Altman is going to do with the data of the people he was collecting, since he refuses to give a clear answer on the subject.
“I’ve started seeing a lot of red flags since day one, but I decided to keep going because I like to give people the benefit of the doubt,” he began his speech.
Another piece of information that Hajarabi slipped is that the firm would be in contact with the US authorities. On the other hand, the fact that the person does not offer location or the jurisdictions in which he is acting should not be overlooked.
Although he had an optimistic vision about the objectives of the project to bring universal income for all, he points out that the problems are scandalous. In fact, he says the organization’s efforts were “a horrendous execution and they deserve whatever comes next.”
This new episode further clouds the Worldcoin landscape. The firm is under observation of various administrations around the world. Regulators are wary of the project’s personal data collection methods.
Not all that glitters is gold
The new cryptocurrency from the creator of ChatGPT.The other big drawback of Worldcoines is that it is collapsing precipitously. According to information from The Block, he lost the 44% of its value in a matter of 30 days. Its biggest setback occurred on Friday, August 25, after reporting a 9.1% drop.
One of the particularities of Worldcoin, which could have negatively affected its price, is that it is granted to those people willing to give up their biometric data to the eponymous company founded by Altman.
The goal of the entity is to create a World ID, a unique virtual identification, and a database of “authentic human beings.”
When the Worldcoin started its journey, it was worth $2.36. As of this writing, it sits at around $1.33.
For Jeff Mei, operational director of the BTSE exchange platform, the Worldcoin situation is quite worrisome, as other cryptocurrencies have shown signs of recovery in recent weeks.
