$WLD Today I woke up with several questions about what really lies behind these virtual accounts that are being offered especially to the Latino community. Upon researching a bit more, I found out their true intention. I'm sharing this so that everyone can draw their own conclusions and decide how to navigate within this ecosystem. I would love to read your opinions. 🤓
— Bela 🫶🏻
• The USD account of World App is indeed backed by a real bank in the United States, but it is not a personal bank account in your name; rather, it is a custodial account.
• Its main objective is not to benefit you directly, but to keep the money circulating within the World ecosystem, preventing you from entering, cashing out, and leaving easily.
• World App aims to become a comprehensive infrastructure that combines digital identity, wallet, payments, and currency conversion.
• Countries like Colombia are strategic because:
• receiving dollars is complicated and expensive,
• there is a high level of informality,
• and the adoption of these solutions tends to be quick.
• Not only is identity information collected, but financial behavior is also analyzed: how you receive, exchange, and use your money.
• It is recommended to use it as:
• a temporary channel to receive or move funds,
• a specific tool, not as a financial base.
• Avoid using it as:
• your main bank,
• a place to store large amounts of money,
• a system you depend on completely.
Are we really getting closer to the promised decentralized economy?
