By In a futuristic and somewhat dystopian turn of events, renowned AI entrepreneur Sam Altman has launched a groundbreaking cryptocurrency project called Worldcoin. This innovative venture aims to distribute digital coins to individuals in exchange for a unique scan of their irises. Thousands of people flocked to scanning sites around the world on the project’s full launch day, forming long queues to gaze into silver orbs.
As the chief executive of Open AI, the company that created the popular chatbot ChatGPT, Altman envisions Worldcoin as a solution to differentiate humans from AI entities online while maintaining user privacy. The concept hinges on the belief that eye scans can confirm a person’s humanity, acting as a tool to combat the increasing presence of AI and bots on the internet.
In an audacious claim, Altman also suggests that Worldcoin’s system could lay the groundwork for an “AI-funded” universal basic income. The idea of a universal basic income involves providing all citizens with a fixed salary, irrespective of their financial circumstances. However, the specifics of how this cryptocurrency-based system would lead to such an outcome remain unclear.
To achieve its vision, Worldcoin’s initial phase relies on convincing millions, if not billions, of people to undergo iris scans and register as human participants. The company has been testing the scanning technology for the past two years, successfully adding over two million individuals from 33 countries into their crypto database. The majority of sign-ups have occurred in Europe, India, and southern Africa.
Curiously, despite its American foundation, Worldcoin excludes US citizens from participating due to regulatory concerns surrounding cryptocurrencies.
The scanning process involves participants first undergoing facial and iris scans, which take approximately 10 seconds in front of the Orb’s camera lens. Upon successful verification, participants receive 25 free Worldcoin tokens, currently valued at around $2 each. These tokens can be claimed and traded, potentially gaining value over time. Some individuals at the pop-up site in East London expressed skepticism about the token’s future value, while others saw it as a unique opportunity to participate in a groundbreaking project.
Notable figures in the cryptocurrency world have weighed in on Worldcoin’s launch. Vitalik Buterin, co-founder of Ethereum, showed enthusiasm for the project’s privacy protection capabilities while cautioning against the potential concentration of power in Worldcoin’s hands. Meanwhile, Twitter founder Jack Dorsey offered a somewhat cryptic critique, referring to the project’s mission as “cute” and issuing a warning about its dystopian undertones.
Critics have raised concerns about the scanning process and tactics used by Orb operators, particularly in less developed nations. Additionally, privacy experts worry about the potential misuse of sensitive data obtained from iris scans, despite Worldcoin’s assurances that no data is stored.
In response to criticism, Sam Altman embraces the challenge and asserts that attempting groundbreaking initiatives like Worldcoin is crucial for advancing technology and society. The project’s ambitious goals and potential impact have ignited discussions about the future of cryptocurrencies and their broader societal implications.
As Worldcoin takes its first steps towards a cryptocurrency-driven future, the world watches with a mix of excitement, skepticism, and concern over the implications of this novel and potentially transformative initiative. Only time will tell if Worldcoin’s vision of a crypto utopia and AI-funded universal basic income will become a reality or remain a captivating yet uncertain idea in the rapidly evolving landscape of technology and finance.
