In December, 18-year-old Pablo Martín faced a tough decision: to scan his iris or not. He had the chance to do so by attaching his right eye to a futuristic metal sphere in a shopping center in Madrid. The process involved waiting for the LEDs to turn on and then receiving his World ID and coins. This digital passport was intended to prove his humanity.
Worldcoin, the company behind the technology, saw a surge in interest when the value of the cryptocurrencies it distributed suddenly rose in mid-February. Thousands of people flocked to shopping centers to claim their coins, leading to a frenzy of activity. However, the Spanish Data Protection Agency intervened and halted Worldcoin’s operations in Spain due to concerns about biometric data handling.
Many people saw the opportunity to earn money through Worldcoin as a lifeline, including those facing financial difficulties like Daniel Guerrero, a Venezuelan awaiting asylum approval. The allure of free money and the promise of a digital passport led many to scan their irises and collect coins.
The rapid rise in the value of the cryptocurrency attracted even more participants, with individuals like Pedro Durán and Antonio Lledó investing in Worldcoin. The potential for profit and association with OpenAI, the company behind the project, made it an appealing opportunity for many.
However, euphoria came crashing down when Spanish Data Protection Agency intervened and suspended Worldcoin’s operations in Spain. This led to a decline in the value of cryptocurrency but search for it continued through alternative channels such as social media and personal transactions.
In conclusion, ban on Worldcoin in Spain and Portugal marked end of party for many participants who were left disillusioned about future prospects of cryptocurrency investment but served as lesson about risks rewards emerging technologies
