Worldcoin resistance growing while Cyberconnect has all the makings of a bubble

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Last Updated on 9 March 2024 by CryptoTips.eu

Things are not going well for Worldcoin, the newest project of Sam Altman, CEO of OpenAI (the company that developed ChatGPT). Sam thought everyone would be lining up to have their eyeballs scanned in order to access a digital wallet containing worldcoin. However, just as we predicted from the beginning, people are not quite ready for that.

Social media crypto influencers are really wild about Cyber, the latest Web3 platform. To us, it looks like a bubble that will burst just as quickly as Friend.tech did a few days ago.

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Orb

Worldcoin, the digital currency of Tools for Humanity, the company founded by Sam Altman (of ChatGPT), is facing increasing opposition. Tools for Humanity wants to scan the eyes of everyone in the world (they use a so-called Orb) to then give users a ‘basic universal income’ via a digital currency (called Worldcoin). In other words, Altman expects that no one will have a job in the future (robots and AI will take care of all productivity), so everyone should get the same amount.

The US government thought it was a very bad idea from the start and banned Worldcoin from its territory. Europe, which is trying to attract tech companies wherever it can, wanted to try it out, but has now discovered that scanning everyone’s eyeball is a problem for most governments and for European GDPR (general data protection rules) regulations.

Worldcoin’s offices in Paris therefore received a visit from the French data regulator last week. Resistance is also growing in other European countries.

Cyber

The life cycle of Friend.tech, a social media network hyped by crypto influencers and promising to become a better version of Threads of X (formerly Twitter), lasted exactly three weeks. After that, the influencers realized that they didn’t want to get money from each other and that’s why the project died. No more followers for the clear pyramid scheme

Now there is a new project with the same idea, called Cyberconnect. You have to pay in a digital currency, called Cyber, in order to be allowed to participate and the original creators, the influencers who promote Cyberconnect, earn more money than the followers. Seems like a bubble, so pay attention.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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