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After ChatGPT’s success, OpenAI CEO Sam Altman’s other ambitious project Worldcoin is in the news these days. Sam Altman is close to securing $100 million in funding and plans to launch the open-source protocol in the first half of 2023. However, leading developers from Ethereum and Polygon are skeptical of Worldcoin’s use cases and success.
Top Crypto Developers Doubts Crypto Project Worldcoin
Polygon Labs’ Hudson Jameson, former Ethereum Foundation core developer, said the Worldcoin team’s plans are “unrealistic and scary” and listed out various problems with the project.
While he is less worried about the zero-knowledge machine learning (ZKML) being built, but skeptical about the rollout since the team plans to onboard millions of people before launch.
He raised concerns about no details on audits, no publicly accessible plans to deal with the huge socio-economic issues, lack of a working group for discussion with experts, and no advertising on it.
Also, Worldcoin tokenomics looks suspicious as only 80% of the coins are for the public, with 10% going to investors and 10% to the team. Hudson Jameson hopes the project “dies” soon.
“WorldCoin seems like a VC invention to solve a global problem while being ignorant of the factors to solving that problem besides building cool tech. They nerdsnipe & hire amazing engineers who are also acting as their PR on Twitter. I don’t see success for WorldCoin.”
He also questioned the safety, privacy, and security of Worldcoin, its orbs, and products.
Ethereum core developer Tim Beiko in a tweet on May 16 also raised concerns about the crypto project Worldcoin. He believes something like “cheap + open access FaceID” can make WorldCoin obsolete. Moreover, it is better to do proof of humanity (POH) at every interaction than one-time verification and “then just relying on crypto signature.”
“I think the two use cases WC is trying to solve for probably have less overlap than it seems: proving content was human generated is much different than sending UBI. Multiple accounts per human is totally fine for the former. Latter shouldn’t be tied to a single ID scheme.”
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Worldcoin To Gain Success Like ChatGPT?
The world is still reluctant to use AI-based tools due to concerns about safety and security. Tesla CEO Elon Musk remains a big critic of AI due to its disadvantages to humans.
Worldcoin has announced its World ID and World App crypto wallet. The Orb for Worldcoin which scan eyes to confirm “proof of humanity” is expected on May 23. World App uses account abstraction technology through SAFE wallet contracts to better security and simplicity. Also, it has peer-to-peer payments support ENS Domains usernames for easy ERC-20 transfers.
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