Sam Altman, the CEO of the firm behind ChatGPT’s OpenAI, has launched Worldcoin, a controversial cryptocurrency project that rewards participants with crypto for a scan of their eyes.
On the day of the full-scale launch, a legion of individuals from across the globe formed lines to peer into silver orbs – the project's proprietary scanning device. The project is meant to help distinguish humans from robots online, and according to Altman could “drastically increase economic opportunity” while preserving privacy.
Worldcoin envisions its system to potentially set the groundwork for an "AI-funded" universal basic income, albeit the specifics remain unclear. Universal basic income refers to the concept of providing all citizens with a set income irrespective of their means.
Worldcoin's proposed digital utopia is contingent upon enlisting potentially millions, if not billions, of individuals to submit to iris scans, thereby confirming they are human.
According to the company, its testing phase, initiated two years prior, has already amassed more than two million participants from 33 different countries, primarily in Europe, India, and southern Africa. Interestingly, despite the company's American roots, U.S. citizens are excluded from the initiative due to regulatory implications.
Worldcoin’s official launch means its tokens are now available on cryptocurrency trading platforms.
While innovative, the scanning process has been controversial, particularly when it comes to the strategies employed by commission-based orb operators, especially in less affluent countries.
Additionally, data privacy experts have raised concerns over potential misuse of sensitive information obtained through iris scanning. Ethereum co-founder Vitalik Buterin and Twitter’s founder Jack Dorsey are among the project’s critics.
