Don’t Take the Free Crypto Money

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Beware of the Orb and its all-seeing eye. Worldcoin and its Orb recently emerged onto the cryptocurrency scene and are backed by some major players in the crypto investment market. The company is trying hard to position itself as a global, socially aware organization developing a common good for everyone on the planet. It’s developing a “collectively owned digital currency that will be distributed to as many people as possible.” Sounds nice, right? Before WorldCoin and their offer of free crypto money reaches you, there are huge security and privacy risks you should be aware of. Here’s what you need to know: They’ve created a neat looking shiny sphere, called an Orb, with a camera in it. You stand in front of the Orb and allow it to scan your retina and your face. The Orb produces a unique identifier, a code, based on your retina. Once you have your personal identifier, you can use it to claim some “free” WorldCoin (WDC) cryptocurrency.

Any red flags going off for you yet? In the world of high tech (Google, Facebook, Twitter, etc), if it’s free, then YOU are the product. They are capturing data about you and selling it for profit. It couldn’t be clearer in this case.

WorldCoin wants to quickly ramp up and capture their first billion retinas and facial scans using the Orb. They are hiring “Orb Operators,” where you can “earn your share of Worldcoin by giving it away” to people in your community. How nice! And the coolest part is that you get to walk around with the Orb in your hands… Yikes.

The company says they’ve lined up manufacturing for more than 50,000 Orbs a year. Already more than 130,000 people have given up detailed mapping of their retinas and faces. The privacy implications are frightening.

So what’s the play here? It’s pretty simple actually. They are literally printing a bunch of cryptocurrency out of thin air and giving it away in exchange for scanning our retinas and our faces. In the process, they will collect the world’s largest database of retina and facial recognition data, along with your other personal information.

With that data, WorldCoin will be able to create one of the most powerful artificial intelligence (AI) facial recognition system on the planet. Combined with your crypto investments, they’ll be loaded with data worth billions. The company claims it will only keep our biometric data long enough to train its AI system and promises to keep all your information private. We’ve heard that before.

So are you in? Would you take the “free” money? Would you give up your identity and your biometric data to claim some free crypto? Please don’t!

Technology is moving at lightening speed, and will only evolve faster with the emergence of blockchain, AI and 5G. More and more companies and technologies will emerge that track our location, our purchasing habits, our investments, our bank accounts, our social lives, our entertainment and more. Worldcoin’s biometric data gathering Orb is just another example of what you should watch out for.

If you are looking to invest and speculate on cryptocurrencies, the number one rule you need to remember is to protect your data and your privacy. Do not fall for clever campaigns to give away free money or free cryptos in exchange for your personal information.

Avoid the Orb. Don’t give up your identity. Keep your retina and your face to yourself.