The iris scan is used to create a unique cryptographic hash to identify that person on the Worldcoin network.
Users who wish to join the Worldcoin network must first download the Worldcoin app and then submit to an iris scan from the ‘orb’ – a shiny sphere that looks a bit like a metal bowling ball. In short, there are users who doubt Worldcoin’s arguments for the public good.
While the stated goals of Worldcoin certainly have a ring of nobility to them, the practical steps to network adoption have always raised a number of questions from privacy-focused individuals. cryptocurrency exchange Coinbase, and the disgraced former CEO of FTX – Sam-Bankman Fried. Worldcoin has been controversial from its 2021 inception due to its harvesting of biometric data, but at an evening event in January Altman claimed that this is because the company was “not ready to tell its story yet.”Īltman went on to add that “I think do it soon, and I think it will go over well.” The Worldcoin premiseĪccording to its website, the stated goal of Worldcoin ‘is building the world’s largest identity and financial network as a public utility, giving ownership to everyone.’Įarly investors in the project include the investment firm Andreessen Horowitz, the U.S. The project demands its users to submit to a biometric iris scan or ‘proof of humanity’ to receive a small sum of cryptocurrency and join the network. OpenAI founder Sam Altman believes the time may finally have come for Worldcoin – a cryptocurrency project that is part global ID system, part payments app.
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