[neffy]

The government always plays catchup on these things, and now is a less than pristine time for financial supervision.

This seems to be the way this has always operated right the way back to Bitcoin - distribute tokens, and fund a market to provide initial "liquidity" until enough people are using it to maintain some semblance of value.

Fundamentally, the definition of money is a token of exchange that people are willing to use. What preferences one form of money over others is the government allowing/requiring tax payments in it. (Which presumably is now the case for bitcoin in El Salvador at least.) The easiest way to succeed at this is to provide funds to create a market - with the proviso that as more and more currencies get created, the "supply" part of the equation gets a bit out of hand. Something very similar happened with the 1840´s libertarian banking experiments in the US.

[thebean11]

I don't think Bitcoin is a good comparison. Anybody can mine Bitcoin and all nodes in the network enforce set rules for currency creation.

With Worldcoin the creator of this "orb" hardware has complete control of currency creation. I don't see any path towards decentralization here..