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Why Coinbase-backed Worldcoin is Unlikely to Succeed
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There is a new cryptocurrency in the works that has the backing of some of the biggest names in tech. Worldcoin is the startup behind the upcoming crypto project, and the founding team includes the former head of the Silicon Valley business incubator Y Combinator, Sam Altman. Additionally, the list of investors behind the project includes Andreessen Horowitz, LinkedIn founder Reid Hoffman, and the venture arm of Coinbase.
According to comments made to Bloomberg, Altman's involvement in Worldcoin stems from his more general interest in universal basic income (UBI) and the future of wealth redistribution. The basic premise, at least based on what we know so far, is to create a new cryptocurrency from scratch that gives coins to every single
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