Worldcoin Witnesses Strong Success in Emerging Countries Like Chile

Worldcoin Witnesses Strong Success in Emerging Countries Like Chile

Wordcoin in Chile

Worldcoin has reported that over 190,000 Chileans have already secured World IDs by getting their iris scanned using Orbs. While privacy advocators believe Worldcoin’s move to collect data from people could be disastrous in the future, most citizens of emerging countries see it as an opportunity to make free money.

A 30-year Chilena Carlos Santibanez told news outlet Decrypt that he had his iris scanned in October 2022 out of curiosity. The Worldcoin’s native token, WLD, didn’t have monetary value at the time. However, when the developers behind the project injected liquidity earlier this year, Santibanez raked in over $160, and he is still receiving WLD tokens.

The Chilean claims that after doing some research, he discovered that Worldcoin’s data collection isn’t as invasive as those of most companies. He is, therefore, not worried his information will be used for illegal purposes.

Santibanez also mentions prominent venture capitalists like Khosla Ventures and Andreessen Horowitz backing the project. He sees them as guarantors of Worldcoin’s future. The iris-scanning project recently raised over $100 million from various investors.

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How Much Do You Get From Scanning Your Iris?

As of October 2, anyone who wishes to have their eyeballs scanned gets 25 WLD tokens. If converted to fiat, they will earn $43 since WLD is currently trading at $1.72, according to data from CoinMarketCap.

This is a lot of money in countries like Chile, considering that the nation’s minimum wage is about $500. Therefore, earning 8.5% of your monthly wage by simply scanning your iris sounds like a good deal to pass up.

Other Countries Where Worldcoin Has Most Registered Users

Another emerging country where Worldcoin has seen massive success is Argentina, which is currently dealing with high inflation rates. According to the project’s August report, there was a new verified Argentine user every eight seconds.

In Kenya, Worldcoin managed to scan the eyeballs of over 350,000 Kenyans before the government intervened and banned the project from operating in the country, citing concerns over privacy. That figure is not surprising, given that Kenya’s minimum wage is roughly $150 monthly.

Worldcoin has yet to encounter a regulatory attack in Chile, a country known to promote technology innovation.

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Archie Lovell
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Archie Lovell

Archie Lovell, a premier voice in crypto journalism, skillfully demystifies the intricate world of digital currencies. With a keen analytical eye and compelling narratives, Archie's writings delve deep, offering clarity amidst the complexities of blockchain. His expertise and style make him a trusted guide in the crypto space.

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