Scanning your iris to become a “verified human” in exchange for digital currency sounds like a Black Mirror episode. But this is not the story arc of a dystopian science fiction show — it’s happening now with one of the latest projects in Web3.
The launch of Worldcoin on Optimism has left many wondering whether this project is subverting Web3’s promise of decentralization to build just the opposite. And yet, more than 2 million people in underserved areas have already signed up to share their biometric data with Worldcoin in exchange for 25 WLD, worth less than $100 at the time of writing.
Privacy violations
Security breaches
Surveillance and sovereignty
Matthew Niemerg is a co-founder and board member of the Aleph Zero Foundation. He holds a Ph.D. in Mathematics from Colorado State University and currently serves as an expert on the EU Blockchain Observatory and Forum. He is also a co-founder of Cardinal Cryptography.