The Perils and Mysteries Associated with Worldcoin
In a Rapidly Transforming Age, the Dangers of Cyber Security can’t be overlooked, the Scanning System of Worldcoin Raises Questions on How and Why the Utility of an Application is Linked with Body Scan.
United States, 20th Jul 2023, King NewsWire – Today’s modern era is brimming with a web of scams and frauds so skillfully weaved that even the experts in the field seem unprotected. As the world is constantly reshaping the horizons of its digital currencies, the prospects of fraud are looming large. Recent investigations regarding the scanning process of Worldcoin to enlist individuals to the global database have given birth to multiple doubts. These doubts, if scientifically verified, bear ample proof to label Worldcoin as a fraud.
The crypto-currency project Worldcoin (WLD) offers $20 to volunteers who agree to provide their biometric data to the company. The biometric data specifically includes scanning the eyes and faces of the population to establish a global database. The company has already scanned the eyes of more than half a million population of the third world countries of Asia and Africa. The whole process is vague and carries the germs of potential security threats. Interestingly, the money they invest in the volunteers has no real-world value as the money has not yet been enlisted on any exchange.
The organization claims that Worldcoin is a collective currency and intends to distribute it fairly. However, as per the reports of Buzzfeed News, most of the people and those who conduct operations for Worldcoin have admitted that the company has scammed them.
There are many ifs and buts with the project. For example, what is the benefit of keeping a Worldcoin when it has no real-world value? Alternatively, users can’t sell their Worldcoin immediately, so trading a Worldcoin as soon as users get it is out of the question. People who are willing to look into an orb are potentially prone to security issues as their private information is collected through these orbs. Similarly, orb operators are paid only when someone stares into the orb, making them prone to abuse and information insecurity. While orb operators can trick the uninformed population to gaze into the orb, there is a huge threat that the orb operators can misuse the collected data and play games with the Worldcoin.
It is noteworthy that the marketing practices of Worldcoin representatives are misleading. According to some sources, the company collects more information than it acknowledges. The company itself has confirmed that the account once deleted or mishandled can’t be restored. The online applications can’t be assessed even for weeks once users log in with their names and passwords. The entire procedure is vaguely arranged and the primary objective seems to be just one; “Collecting as many irises scans as possible”.
The actual intention behind the establishment of Worldcoin is still a mystery. However, as we live in a crazy era, nothing is perfect. The theory of Universal Basic Income (UBI) seems flawed when the users are not provided with first-hand information about the project before letting them peep into the orb. With the passage of time, many mysteries regarding Worldcoin will resurface on digital currency platforms. However, users need to remain careful and vigilant to avoid any imminent threat to their security.
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