GCrypto Chief Examines Concerns and Misconceptions Surrounding Worldcoin’s Iris-Scanning Initiative
Luis Buenaventura, the head of GCrypto’s crypto trading arm at GCash, sheds light on the controversy surrounding Worldcoin’s iris scans in the Philippines. While he defends the privacy of user information, Buenaventura expresses doubts about the sustainability of the crypto project.
Clarifying Misconceptions
In a recent Cryptoday article dated July 7, 2025, Buenaventura debunked common misconceptions about Worldcoin. He emphasized that users are not trading their biometric data for 3,500 worth of World’s native token $WLD. Additionally, Buenaventura reassured the public that the World Foundation, a non-profit entity backing World, does not maintain a vulnerable centralized database susceptible to hacking. Moreover, he highlighted that no personal identifiers, such as names or contact details, are required to claim the token rewards.
Worldcoin Operations in the Philippines
World initiated its iris-scanning campaign in the Philippines earlier this year, commencing in Bulakan, Bulacan, and subsequently expanding to other regions within the province.
According to Buenaventura, World differentiates itself by offering users 3,000 tokens and potential referral rewards of up to 6,000, positioning itself as a leading onboarding platform in the local crypto landscape.
