Former Ethereum Foundation member expresses pessimism towards Worldcoin, criticizing tokenomics and regional issues

The cryptocurrency project Worldcoin, led by Sam Altman, has recently garnered significant attention. Its ecosystem wallet, World App, has been made available for use worldwide, and the global iris scanning project is currently underway. However, former Ethereum Foundation member Hudson Jameson has raised concerns about the challenges facing Worldcoin and is not optimistic about its success.

Ethereum Foundation Member Not Bullish on Worldcoin

"Apart from the technology and Orb iris scanner, the plans of the Worldcoin team are impractical and concerning," said Hudson Jameson.

Hudson expressed doubts about the Worldcoin team's goal of having tens of millions of people using Worldcoin after 2025 compared to the technology they are building.

Hudson raised two main issues related to geographical concerns and fairness.

Firstly, Hudson stated that Worldcoin currently has no public plans to address significant socio-economic issues that may arise in different regions, nor has it formed a working group inviting experts to participate. If they have, the Worldcoin team has not publicized it.

Furthermore, Hudson pointed out issues with Worldcoin's tokenomic model. While Worldcoin aims to have people around the world hold and use the same currency, only 80% of the tokens are distributed to users, 10% are held by the team, and the remaining 10% are for investors.

Hudson questioned whether this could create a fair global currency and whether the team has conducted any analysis to prevent wealth disparities in specific regions.

Based on the unresolved issues mentioned above, Hudson does not believe that Worldcoin can successfully achieve its goals. He stated:

"Worldcoin seems like a venture capital-conceived solution aimed at solving global problems without understanding the factors that solve problems, other than building cool technology. They attract great engineers and have them act as PR on Twitter. I am not bullish on Worldcoin's success."

Note: Hudson Jameson is currently a member of Polygon Labs.