The World Coin Tokens-A Ticket To Financial Freedom
Learn more about the Worldcoin project, and why many are scanning their eyeballs.
By Anna B Kiwanuka
The internet is buzzing with news about Worldcoin, an innovative cryptocurrency that offers free tokens in exchange for biometric identity verification. Launched on July 24, Worldcoin is making waves by providing registered users with WLD tokens after scanning their eyeballs at designated locations across 35+ countries, including Uganda and Kenya.
The Worldcoin project introduced a unique method for identity verification through a biometric device called the ‘Orb.’ Users can book appointments at nearby ‘Orbs’ to generate their Worldcoin IDs. The Worldcoin Orbs serve the purpose of collecting biometric data required for creating digital IDs.
The company, Tools for Humanity, reports scanning and registering over two million people using the Orb, with plans to expand its availability to more locations globally in the upcoming months. According to Worldcoin, the WLD tokens are at the core of the Worldcoin ecosystem, functioning as governance tokens, and the community will determine their utility. The tokens serve as incentives for participants. Each participant receives their first free 25 WLD tokens which are worth Ugx 200,000.
They can then transfer these tokens to official crypto exchanges, like Binance, and use them to buy other cryptocurrencies, which can then be cashed out through liquidity agents on those platforms or sold to other users, and there comes the free money.
Currently, Worldcoin registration stations in Uganda are at Acacia Mall, Akamweesi, Ham shopping mall Makerere, and Pioneer Mall. However, at the moment, registrations in Uganda have been paused because of the overwhelming numbers.
In a statement shared on their community platforms, Worldcoin stated, “We are grateful for the overwhelming demand this vision has received and want to express our gratitude to all the users who have chosen to participate in the project. To ensure that our users receive the quality service they deserve in a proper manner during this time, we will temporarily pause verifications in multiple locations and plan to have operations at a central location that has the capacity to host users and create an enjoyable experience for them while getting introduced to crypto and getting verified.”
“Over the next few days, we will dedicate our efforts to establishing a robust system to support the event at this location. This includes implementing on-the-ground security measures, crowd management controls, and a ticketing system as needed. During this period, we will also offer support for an educational drive. The major purpose of this is to educate those users who are victims of fraud and inform users of the upcoming event where they can learn more about crypto and get verified. Once everything is in place and the setup is complete, we will share the operational details to kickstart the event.” The statement further read.
In Kenya, security officials have also been overwhelmed by the high number of Kenyans crowding at Nairobi Central Business District (CBD) and therefore ordered the registration to be immediately terminated.
On the other hand, the Office of the Data Protection Commissioner (ODPC) recently cautioned Kenyans against just sharing their sensitive personal data before they receive proper information on how their data will be used.
Co-founded by Sam Altman, CEO of text-based artificial intelligence platform ChatGPT’s developer OpenAI, Worldcoin states that it wants to give everyone on earth access to the global economy, by giving them a verified digital identity, free cryptocurrency tokens, and a crypto wallet. Their whitepaper says the concept was to create a digital currency that would be most inclusive and accessible to people worldwide, regardless of their socio-economic status or access to traditional banking systems.