The 20-day Worldcoin festival in Spain: Queues, cryptocurrencies, and iris scans

Pablo Martín, an 18-year-old, did not have to ponder the decision of whether or not to scan his iris last December. He found himself in a shopping center in Madrid where he had the opportunity to have his eye scanned by a futuristic-looking metal sphere. This sphere, called the Orb, was used by Worldcoin, a company that offered cryptocurrencies in exchange for iris scans. Martín, like many others in Spain, went through the process and received his World ID, which guaranteed his humanity.

Initially, Worldcoin went unnoticed due to the low value of the cryptocurrencies it distributed. However, in mid-February, the value of the currency suddenly spiked, resulting in a rush of people queuing for hours to claim their coins. This frenzy lasted 20 days until the Spanish Data Protection Agency halted Worldcoin’s operations in Spain. The agency raised concerns about how the company was handling sensitive biometric information.

Despite the controversy, many people, like Daniel Guerrero, saw Worldcoin as a means to earn money during challenging times. Guerrero, a Venezuelan awaiting approval for humanitarian asylum, turned to Worldcoin to support himself during a six-month waiting period. For others, like Pedro Durán and Martín, the cryptocurrency boom sparked an interest in the world of virtual currencies, leading them to explore and invest in different digital assets.

However, the euphoria surrounding Worldcoin was short-lived. The AEPD’s intervention led to a halt in operations, causing the value of the cryptocurrency to drop. This led to a shift from scanning irises in shopping centers to buying and selling coins on social networks. Despite the ban in Spain and later in Portugal, some individuals continued to seek opportunities to scan their irises, highlighting the allure and risks associated with the cryptocurrency craze.

The use of iris scans for cryptocurrency distribution also raised concerns about privacy and security. Experts warned about the potential risks of sharing biometric data and the implications of its misuse. As the excitement surrounding Worldcoin dwindled, the repercussions of the rapid rise and fall of the cryptocurrency served as a cautionary tale for those navigating the world of digital currencies.