Exploring the Potential of Worldcoin for Universal Basic Income

What the world needs now, is ….

Universal Basic Income (UBI) has been a topic of intense discussion and debate in recent years. The idea is simple yet revolutionary: provide a regular, unconditional sum of money to individuals to cover their basic needs, thereby reducing poverty and increasing equality. Enter Worldcoin, a cryptocurrency project that has garnered attention for its ambitious goal to implement a UBI scheme on a global scale.

The Vision of Worldcoin

Worldcoin presents itself as more than just another digital currency; it’s a social experiment with the potential to redefine wealth distribution. Despite criticism for its high fully-diluted value — nearly $49 billion compared to a market cap of $1 billion — Worldcoin’s true essence lies in its UBI aspirations. With only 2% of the total WLD supply currently circulating, the project has a long-term vision for gradual release and adoption.

Worldcoin’s approach to Universal Basic Income (UBI) has faced several criticisms, which can be broadly categorized into concerns about privacy, the distribution model, and the economic implications:

Privacy Concerns

• Biometric Data Collection: The use of iris-scanning Orbs for identity…