- Worldcoin is a new cryptocurrency project founded by Sam Altman, CEO of OpenAI.
- The project aims to create a new global financial and identity network owned by everyone.
- Worldcoin uses eye-scanning technology to verify users’ identities and distinguish humans from AI online.
- The project has raised concerns about privacy, but the company insists that the technology respects users’ privacy.
Worldcoin is an ambitious cryptocurrency project founded by Sam Altman, CEO of OpenAI, the company behind revolutionary AI tools such as ChatGPT, GPT-4, and DALL-E. The project aims to create a new global financial and identity network owned by everyone.
To achieve this goal, Worldcoin allows people to scan their iris to create a digital identity in exchange for free tokens. More than a million people have already done so. Worldcoin wants to be a solution “to distinguish humans from AI online while preserving privacy”.
How Worldcoin Works
Worldcoin consists of creating a digital identity and a digital currency (WLD) that is received simply for being human. The project has raised many concerns about privacy, but the company repeatedly assures in its statements that this technology respects privacy.
This allows you to prove that you are a real and unique person on the Internet.
Worldcoin is an “attempt at global alignment” although the company knows that “the path will be difficult and the outcome uncertain”. For now, you can download World App, the first wallet compatible with the protocol. Worldcoin argues that iris scanning is the most infallible method to verify that we are human. And they have created a metallic orb to manage this entire process. After using an orb, a biometric verification device, you will receive a World ID. This allows you to prove that you are a real and unique person on the Internet. As the distribution of orbs increases, which have been distributed in different places around the world since April, you can find the nearest one and reserve time to be verified with World App and on worldcoin.org. This device plays a vital role in the Worldcoin protocol. It is a biometric imaging device developed by Tools for Humanity to test personality.
Once a person has verified that they are really that person and that they are human (not an artificial intelligence), through an orb, that person receives an identification that is global and can be used as a global digital passport to log in to websites, mobile applications, and web3 dapps.
Privacy Concerns
Despite the company’s assurances that the technology respects users’ privacy, there are still concerns about the potential risks associated with iris scanning. However, Altman believes that with proper explanation, the company can attract users.
Worldcoin is an ambitious cryptocurrency project that aims to create a new global financial and identity network. While there are concerns about privacy, the company insists that its technology respects users’ privacy. Only time will tell if Worldcoin will be able to achieve its goals and address these concerns.
