Aug 7, 2023

Kenyan police raided the Nairobi warehouse of identity and cryptocurrency protocol Worldcoin on Saturday, confiscating documents and machines, local news organizations reported.

Video transcript

Local news organizations reports that Kenyan police raided World Coins warehouse in Nairobi and confiscated documents and machines. Lawrence. What do you make of this story? We're still talking about World Coin and it seems there's a new leaf turn here in Kenya. What do you make of it? Um Yeah, I it'd be interesting to see if this continues. I, if this happens in other countries. Um, you, you know, again, it, it, you know, the nuance that that world coin brings up is that they don't actually collect any bio biometric data or anything like that. What they do is they use your Iris as kind of like a key. Um So it's a slightly different technology and now we don't store it and everything. Um It seems people don't either don't buy it or worried that it might not be foolproof again. Look, and I know it's crazy to bring up Curve. It's not related, but nonetheless, when you start seeing headlines like what happened in D I with Curve, right? We, we think about, oh you know, D I is the solution to everything and code is law, et cetera and we find out that, that code is flawed in some way and granted it wasn't curve's fault, it was viper's fault, whatever it is, the point is that governments are not going to trust anybody having to stick their face in front of a camera and it takes a picture of their iris and somehow that information isn't stored somewhere. Um, it, it, it, you know, there's a long way to go. We have to remember codes are written by humans. Humans are fallible and which I accept me obviously. But, um, it nonetheless, it's the, you know, this code is not necessarily perfect. Governments aren't going to trust it. Kenya is the first to not trust it. Be interesting to see if there'll be other countries that are gonna say, look, we don't want people shoving their faces in front of these things and then having somebody collect all this data, we could do a cotton swab with for 23 million, collect your entire DNA that we're OK with. Uh, but a picture of your iris is way out of bounds. Yeah, I think there are some other governments also looking to world coin. I think we'll see more follow suit. I've said it on the show before. For me, the jury is still out on World Coin. But the last question I'll ask you, Laurence is, do you find it odd that they would have a warehouse um, in Kenya? I know, but just before the show, I found it odd. So I looked up where they were manufacturing and that's in Germany. What, what do you think this warehouse means? Uh I, you know, uh I don't know how many orbs you need in Kenya, like, but you have to remember they're kind of, you know, and, and this is the exploit exploitation aspect of it. All right, is that they were giving uh tokens to people who got their iris scanned and this kind of, and about a third or so of their customers were in Africa, a third were in Asia. Um in, in terms of people who have gotten their irises scanned and it's like 2 million something people probably more now. Uh And in exchange, you would get like $50 worth of tokens, right? So um people are like this kind of reeks of exploitation. Like why are you paying people for this? Like this is, this is kind of weird and I think that like it, it spooks people and so the, so who knows why they had all these like orbs in that, in that uh warehouse or how many orbs they had in that? I don't know, they're small little things like how, how many do you need for a, you know, a city or a few cities? But you know, it doesn't sound like I don't know what they say. They want a total of 1500 worldwide. I thought the last time we had a representative from world coin on first mover. I stand to be corrected, but they said 50,000 orbs worldwide, um could address most of the world's population. So I think that that's their, their goal, but I stand to be corrected there. All right. I believe the World Coin story will continue to continue to develop and we will continue to chat about it here on first mover.

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