- Potential Worldcoin signees are urged to understand the companyโs terms and conditions thoroughly.
- Former Worldcoin employee seeks to distance himself from the company.
- Global investigations into Worldcoinโs practices are ongoing.
When it comes to controversial projects, few can rival Worldcoinโs โscan your iris for tokensโ proposition. The projectโs whitepaper talks about being globally inclusive and enabling democratic processes, but some have pointed to controversies that include the technology compromising privacy and its potential to be used for surveillance purposes.
Joining the latter ranks, Nadir Hajarabi, who identified himself as a former worker at Worldcoin, took to YouTube to air his concerns about the organization, particularly regarding the WLD token.
Hajarabi Severs Ties with the Company
Recounting his experience working at Worldcoin, Hajarabi said he saw โmany red flags from the get-goโ but justified staying on to determine if the aspects he objected to were born of malice or simply misguided direction.
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โI wasnโt sure if the sloppy and/or illegal things that I witnessed were a result of malicious intent or if they were the result of things being done in a โstart-uppyโ way,โ said Hajarabi.
With that, he urges people considering joining the Worldcoin program to thoroughly read the terms and conditions and understand what they are signing up for.
For Hajarabi, the penny-drop moment came after receiving unsatisfactory responses to questions he posed to the CEO and legal department. This led him to conclude that โthis is a great mission, a great vision, but a horrendous execution that deserves whatever will come next.โ
Hajarabi disclosed that he is working with authorities in different countries as part of their investigations into the organization but was unable to provide specifics. Indeed, throughout the video, it was apparent that Hajarabi was choosing his words carefully, which he explained was the advice given to him by his legal counsel.
Despite the lack of details, Hajarabi said the purpose of uploading the video was to disassociate himself from the company publicly.
How Worldcoin Works
Worldcoin is a cryptocurrency project that aims to build a โmore human economic system.โ This concept seeks to do away with working for money and instead looks to incept and provide a form of universal basic income via its WLD token once fully operational.
Underpinning this proposed system is โWorldIDโ and the Proof-of-Personhood consensus mechanism. This utilizes tech referred to as โorbs’ to capture and record the unique features of a personโs iris, which are then encrypted into their unique WolrdID. The company states this degree of biometric capture is necessary to ensure individuals can only sign up once and to assist with account security and recovery in the event of technical difficulties.
The orbs are distributed by registered Worldcoin agents tasked with onboarding new users. The payment made to signees is 25 WLD tokens, per Forbes, which equates to around US$35 at the time of writing.
On the Flipside
- A recent Worldcoin audit conducted by CertiK revealed a significant security vulnerability, enabling the bypassing of the verification process.
- Some consider UBI as the way to achieve a fairer society.
Why This Matters
Worldcoin’s latest controversy only amplifies existing doubts about the ethics of its invasive data collection methods. This backlash highlights the growing public awareness of how personal data can be exploited.
Read more on Worldcoinโs security audit results here:
CertiK Uncovers Major Worldcoin Vulnerability: What Is at Stake?
Learn more about the inner workings of Alameda and FTX here:
Alameda Insider Spills Beans on Collapse of FTXโs โWell-Intentionedโ Plans
