Worldcoin, a non-profit organization that is aiming to create a global identity network akin to India’s Aadhaar, has already signed up over 2.4 million people to have their irises scanned by Worldcoin’s “orb” devices in exchange for a digital ID and free cryptocurrency. Privacy campaigners have raised concerns that the database could be misused.

The organization’s goal is to create a universal identity system that can be used to access a variety of services, such as financial services, healthcare, and education. The organization believes that this would help to reduce poverty and inequality around the world.

However, privacy campaigners have raised concerns about the security of the Worldcoin database. They argue that the database could be used by governments or other organizations to track and monitor people. They also argue that people may not be fully aware of the risks involved in sharing their iris scans with Worldcoin.

Worldcoin has said that it takes data privacy very seriously. The organization has said that it will only use iris scans for the purpose of verifying identity and that it will not share the scans with anyone else. The organization has also said that it will encrypt the scans and store them securely.

Despite these assurances, privacy campaigners remain concerned about the Worldcoin project. They argue that the potential risks of the project outweigh the potential benefits.

It is still too early to say whether Worldcoin will be successful in its mission to create a global identity network. The organization faces a number of challenges, including the need to gain the trust of users and the need to address privacy concerns.

Key takeaways:

• Worldcoin is a non-profit organization that is aiming to create a global identity network akin to India’s Aadhaar.
• The organization has already signed up over 2.4 million people to have their irises scanned in exchange for a digital ID and free cryptocurrency.
• Privacy campaigners have raised concerns about the security of the Worldcoin database.
• Worldcoin has said that it takes data privacy very seriously and that it will only use iris scans for the purpose of verifying identity and that it will not share the scans with anyone else.
• It is still too early to say whether Worldcoin will be successful in its mission to create a global identity network.

Additional information:

• Worldcoin website: https://worldcoin.org/
• India’s Aadhaar system: https://www.india.gov.in/application-aadhar-card
• Privacy campaigners’ concerns about Worldcoin: https://learningenglish.voanews.com/a/worldcoin-draws-attention-due-to-privacy-concerns/7224177.html

Privacy campaigners have raised concerns that the Worldcoin project could lead to a mass surveillance system. They argue that the iris scans collected by Worldcoin could be used to track and monitor people’s movements and activities. They also argue that the data could be used to discriminate against people or to target them for advertising or other purposes.

Worldcoin has said that it takes privacy very seriously and that it will only use the iris scans collected for the purpose of verifying identity. The organization has also said that it will not share the scans with anyone else. However, privacy campaigners remain concerned about the project and have called for it to be halted until more safeguards are put in place.

The Worldcoin project is a controversial one, and it is likely to continue to be debated for some time. Only time will tell whether the project will be successful or whether it will be seen as a major privacy failure.

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Kraken, a prominent cryptocurrency exchange, alleging that the platform failed to register as an unregistered securities exchange. The SEC claims that Kraken has been selling unregistered securities in the form of digital assets like Bitcoin and Ethereum.

The SEC’s complaint outlines several charges against Kraken, including:

• Offering and selling digital assets that are considered securities under federal law without registering with the SEC.
• Failing to comply with the SEC’s custody rule, which requires broker-dealers to safeguard customer assets.
• Engaging in misleading and deceptive practices in connection with the sale of digital assets.

The SEC is seeking a permanent injunction barring Kraken from further violating federal securities laws, as well as disgorgement of ill-gotten gains plus interest, civil penalties, and a conduct-based injunction restricting Kraken’s business activities.

Kraken has denied the SEC’s allegations, claiming that its platform is compliant with all applicable laws and regulations. The company has also stated that it is “fully cooperating” with the SEC’s investigation.

The SEC’s action against Kraken is the latest in a series of regulatory crackdowns on cryptocurrency exchanges. Earlier this year, the SEC sued two other major exchanges, Coinbase and Binance, for similar violations.

The SEC’s actions reflect a growing concern among regulators about the risks associated with cryptocurrency trading. These risks include the potential for market manipulation, fraud, and investor harm.

The SEC’s lawsuit against Kraken could have a significant impact on the cryptocurrency industry. If the SEC is successful in its case, it could force other cryptocurrency exchanges to register with the agency, which would subject them to additional regulatory oversight.

This could lead to increased compliance costs for cryptocurrency exchanges, which could be passed on to customers in the form of higher fees. Additionally, the SEC’s action could make it more difficult for cryptocurrency exchanges to operate in the United States.

The SEC’s lawsuit against Kraken is still in its early stages, and it remains to be seen how the case will be resolved. However, the outcome of the case could have a significant impact on the future of the cryptocurrency industry.

BlackRock’s recent filing for a bitcoin ETF has sparked a lot of excitement in a market that had been otherwise a very depressing one. Some even say it marks the start of a new ” crypto-summer.

What do you believe will be the biggest benefit from this? asks Avi Felman.

The head of trading digital assets at GoldenTree responds to his own question. “There’s this wonderful instrument, GBTC.”

Felman says that if Grayscale was to be turned into an ETF after BlackRock it would be a great trade’.

He says that the stock is currently being traded at a discount of 33%.

Felman explains to Cumberland’s Global Head Of Trading Jonah Van Bourg, on the 1000X Podcast ( Apple / Spotify ), that GBTC stocks sell at a discounted price compared to their bitcoin underlying assets. This creates some interesting opportunities.

GBTC is sold at a price lower than the BTC because Grayscale is currently structured as a Trust and does not offer asset redemption for its shares. Grayscale aims to be an ETF but it’s currently structured as a Trust. The price of GBTC can deviate from BTC’s value due to supply and demand dynamics.

The shares are currently being traded at a discount but have previously been at a premium. Grayscale is a good option for traders who want to avoid the risk of holding the digital asset themselves. Hardware wallets and twelve-word phrases don’t seem like they would fit the institution vibe.

The Securities and Exchange Commission refused to accept the company’s application for 2022, resulting in a lawsuit which has not been resolved.

GBTC’s recent price surge was a result of news about BlackRock’s ETF and a of subsequent institution filings. Van Bourg warns against relying on the current discount and says that GBTC is likely to sell again ‘at some stage’.

Van Bourg says that Grayscale’s owner, DCG, is the reason for his hesitation. We don’t know whether the managers at DCG are driven more by “reputational” concerns or if their economic rationality is a concern.

Grayscale does not have to compete

Van Bourg says that ‘theoretically’, the textbooks say they should do nothing.

‘Whatever happens to the price of GBTC, it does not change the fees collected by Grayscale. The only thing that changes their fee is the fluctuation of bitcoin’s price.

“They collect 2% every year of the bitcoins held in the fund.”

Van Bourg says that Grayscale does not have to compete against BlackRock, who has filed for an ETF. Van Bourg says that even if GBTC is fire-sold at a discount of minus 90 percent, Grayscale will still be collecting the same fees.

Van Bourg says that if a BlackRock ETF is approved, Grayscale may be better off buying back their own shares at a discount. Grayscale would be able to convert their trust in an ETF after BlackRock clears a regulatory pathway.

He says that it would be unjust to treat your investors in this way, but if you are purely rational from an economic perspective, then that could make sense.

There is a risk of downside.

Felman argues the likelihood of such a move being made is ‘extremely small’ because it would have legal and reputational consequences.

He says that they are trying to build their business rather than generate a lot cash quickly and expose themselves to legal liability.

Felman acknowledges that a number of people have committed worse crimes in the crypto world.

Van Bourg: ‘Let’s imagine you are managing GBTC, and BlackRock releases a product which is infinitely superior.’

Grayscale investors are likely to move into BlackRock. This will leave the company with no choice but allow redemption of GBTC share. ‘GBTC will be redeemed, and assets will get moved into something more institution.

Environmentalists have targeted various technologies in recent years, but during the past 24 months, they’ve focused a lot of attention on bitcoin mining. The insatiable desire to reduce carbon footprints has now been directed at artificial intelligence (AI), a trend that is taking the world by storm.

It’s clear that AI is a very popular technology in 2023. Openai’s Chatgpt and other innovative software have been released. But several articles and academic papers have claimed that AI consumes a huge amount of energy, and has a large carbon footprint.

Bloomberg published a article stating that ‘AI consumes more energy than any other form of computing. According to the article, media members use a trick to make it appear that machines are stealing energy from humans.

Josh Saul, Dina Bass and Bloomberg claim that training a single [AI] can consume more energy than 100 U.S. households use in a year. The report notes that although researchers have calculated a total for how much energy it takes to create an AI model, there is still no estimate of the total power used by the technology.

Academic Paper Published by Students from the University of Colorado Riverside, and University of Texas Arlington, claims that Chatgpt not only uses a lot of energy, but also utilizes water to cool data centers.

The paper states that Microsoft’s AI facilities in the United States use so much water that it could cool ‘370 BMW cars, or 320 Tesla electric vehicle’. The paper claims that the GPT-3 training model used 185,000 gallons.

Mark Labbe is an author for techtarget.com. insists ‘data centres and large AI models are harmful to the environmental.’ A article on numenta.com claims that AI is also ‘harming’ our planet. The author says the trend will accelerate climate change if it’s not addressed.

Many people do not agree with the alarming headlines and studies, believing that the so-called “climate crisis” is a falsehood. A report by the Gatestone Institute, for example, claims that climate alarmism harms the West.

Drieu G. Godefridi is the author of the Gatestone Institute. He says, “Future generations are going to judge us harshly because we allowed extremist environmental activism infeeble the West.” John Shewchuk, a meteorologist at the Gatestone Institute, insists climate alarmism has no basis.

Shewchuk Tweeted on 16 April: “Climate alarmism is not a substitute for facts.” Our primate ancestors developed when temperatures were 20 degrees F higher than they are today. There were also no polar glaciers. Earth is relatively cold and getting colder climatologically.

Climate activists insist that the science is settled.

Climate alarmists do not only target bitcoin mining or artificial intelligence. Recent AFP report has been criticized for blaming the rice farming industry for significant CO2 emission. AFP report states that scientists say rice is a necessity if we want to reduce greenhouse gas emission.

AFP’s Sunday tweet was criticized for claiming that rice farming is responsible for CO2 emissions. ‘What cannot be ignored is that rice is literally a top food source for millions of people’, responded on the AFP twitter account. ‘Eliminating the rice crop would cause millions to starve… and people like you [AFP] don’t mind.’

Thomas Massie also criticized AFP for its video tweet. Massie said, ‘The fact climate wokes are going to rice shows how illogical and irrational they are.’ “Mature trees release large quantities of methane.” Methane is released by ponds and lakes.

He added that methane is released when organic matter decomposes in the absence oxygen, or in the stomachs of termites and herbivores. Truthfully, people think that arbitrary opinions and subjective evaluations of what’s good for the environment and what’s not should be investigated.

While bitcoin is a currency that can be used without censorship, others argue it should also address concerns about climate change. The environmental impact of artificial intelligent and rice farming have also been scrutinized. Many people follow the rules set out by climate experts and bureaucrats. However, some hold contrary views. They argue that science has not been settled.