Eye scanning company capitalizes on Argentina's inflation crisis
To encourage individuals to provide their iris biometrics, Worldcoin offers them a small amount of its cryptocurrency, WLD. In Argentina, this tactic appears to predominantly target financially vulnerable individuals, whose already limited earnings are rapidly eroded by soaring inflation rates.
For instance, individuals enduring nearly 300% inflation are rewarded with $50 worth of WLD for undergoing iris scans. While this may seem appealing, it's crucial to consider the dire financial circumstances of many Argentinians. Some pensioners, receive as little as $95 per month, pushing them to make decisions out of desperation rather than understanding.
Approximately 500,000 people in Argentina have already participated in Worldcoin's scheme, prompting concerns and calls for investigation by provincial authorities, despite the country's weak data privacy laws. Some experts suggest following the example of European nations where iris scanning for such purposes is prohibited. However, in economies grappling with high inflation and unemployment, exploitation thrives more easily.
The revelation that Worldcoin is achieving its goals in such conditions raises doubts about the positivity of its reported figures, such as claims of over 10 million people in 160 countries adopting its World ID system. Moreover, the expansion of Worldcoin's operations is noted, with numerous Orb centers established across Argentina, primarily in working-class areas around Buenos Aires. Yet, while Worldcoin Orbs were previously available in 25 countries, they are now limited to several, including Argentina, Chile, Germany, Japan, Singapore, Mexico, South Korea, and the US.
Source: Reclaim the Net
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