At the beginning of the current trading week, the Worldcoin token was steadily strengthening its positions, but on Tuesday the situation changed significantly. This is due to the fact that the cryptocurrency community has expressed concern about this project, co-founded by Sam Altman from OpenAI. According to on-chain metrics, over the past 24 hours, the asset has fallen from $3.58 to $2.04.
This startup uses the ORB hardware device, which is necessary for user identification. According to representatives of the site, such a strategy will become part of the innovation economy in an era when AI is massively integrated into the community.
Against this background, many crypto enthusiasts fear that the privacy of retail consumers will suffer in the first place. One of the first to announce this was the head of Ethereum, Vitalik Buterin. Also, the Worldcoin project began to criticize intrusive advertising in developing countries. For example, about 30% of the users identified by the ORB system are located in Asia and Africa.
Well-known cryptocurrency user Zach XBT said on Twitter: “What really bugs me is that the Worldcoin team is bragging about their rapidly growing target audience. But in reality, they are just trying to exploit consumers from developing countries.” In his post, the user referred to a story that was published in MIT Technology in 2022.
Analysts noted that the Worldcoin startup uses deceptive marketing methods and collects more information about its users than it officially indicates. It is noteworthy that today the UK financial regulator announced a global investigation into the activities of Worldcoin.
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