Worldcoin: Sam Altman Launches Eyeball Scanning Crypto Coin.
A new cryptocurrency project with a rather “dystopian” approach has been launched by AI entrepreneur Sam Altman. Known as Worldcoin, the initiative rewards individuals with digital coins in exchange for a scan of their irises. People worldwide flocked to scanning sites, where they gazed into silver orbs to participate in the full launch.
Sam Altman, the CEO of Open AI, the company behind the popular chatbot ChatGPT, hopes that Worldcoin will not only provide economic opportunities but also serve as a means to distinguish humans from AI online while maintaining privacy. Moreover, the project claims that it could pave the way for an “AI-funded” universal basic income, though the specifics of this concept remain unclear.
To achieve its crypto utopia, Worldcoin's initial step involves convincing millions, if not billions, of people to undergo iris scans to verify their human identity. Over the past two years, the project claims to have already amassed over two million people from 33 countries into its crypto database, with most sign-ups coming from Europe, India, and southern Africa.
However, due to regulatory concerns, US citizens are currently not eligible to participate in this initiative. Nevertheless, with the full launch of the project and the availability of crypto tokens for claiming and trading, Worldcoin is expected to become even more popular.
The process of obtaining the Worldcoin tokens begins with a face and iris scan, taking approximately 10 seconds. Upon successful verification, the user receives 25 free Worldcoin tokens, currently valued at roughly $2 (£1.56) each. Worldcoin plans to deploy 1,500 orbs in various locations worldwide.
Despite its potential, the scanning process has stirred controversy. Some critics have raised concerns about the tactics employed by orb operators, particularly in poorer nations, and potential privacy breaches from sensitive data gathered through iris scanning.
Notably, the co-founder of Ethereum, Vitalik Buterin, expressed excitement about the project while cautioning against its potential drawbacks. He believes that specialized hardware systems can protect privacy to a certain extent but also highlights the risk of granting Worldcoin excessive power.
Twitter founder Jack Dorsey, known for his enthusiasm for cryptocurrencies, appeared critical of the project, calling its mission “cute” but issuing a dystopian warning.
Sam Altman welcomes criticism and acknowledges that the project is ambitious, recognizing that trying new initiatives is essential for progress.
Worldcoin's eyeball-scanning crypto coin has garnered attention for its novel approach, yet it raises significant concerns about privacy, data security, and the concentration of power. While it remains to be seen how the project will unfold, its impact on the crypto landscape is yet to be fully understood.
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