Depth: Worldcoin with ups and downs, can UBI economics in the AI era come true?

Can Worldcoin's fluctuations support Universal Basic Income in the AI age?

In the planning of Worldcoin, encryption technology, ZKP, and AI technology are not mutually exclusive options, but rather the next generation of network technologies that can be combined with each other. The author of BlockingNews, Yue Zhi An Mian, introduces the Worldcoin project, revealing the logic behind the Worldcoin project and its links with AI and universal basic income, and exploring its role and prospects in the field of cryptocurrency and Web 3.

Thanks to the popularity of chatGPT, the current registration number of World App has exceeded 1.7 million, while the user number did not surpass 1 million until the end of 2022. However, it should be pointed out that the number of app registrations and the number of people who have undergone iris scans cannot be equated. According to the data from March 2023, only 450,000 people in 24 countries have completed the full biometric data collection, as disclosed by CEO Alex Blania.

Unlike AI’s rapid development, UBI and cryptocurrency still face many questions, especially whether the use of cryptocurrency as a means of promoting UBI can be effective, which remains an unpredictable issue. The logic behind UBI is not complicated. Currently, the total production in human society is greater than the total demand, but due to uneven distribution, there is widespread inequality between poor and rich countries, high-income and low-income groups, even between genders and generations. The idea behind UBI is to redistribute social wealth in a relatively gentle way.

Regardless of whether Worldcoin succeeds or not, it will be the first large-scale UBI experiment for all humans, as previous attempts have not received widespread attention overall. For example, Circles, which falls under the UBI category, had less than a thousand participants in governance as of now and is still a small-scale experiment. With the help of Worldcoin, cryptocurrency will face a global audience of billions of people, at least millions of ordinary users who were not previously users of Web 3. From this perspective, at least it has taken a step towards truly popularizing cryptocurrencies among the general public.


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