26-7-2023 (LONDON) The public is being invited to participate in a unique cryptocurrency project that uses biometric verification to distinguish humans from AI systems. The Worldcoin scheme, spearheaded by Sam Altman from OpenAI, offers users the chance to have their irises scanned by a silver orb. In return, they receive a “genesis grant” of 25 tokens, equivalent to approximately £40, as well as a World ID and a crypto wallet on their smartphone.
The London-based orb, located at Techspace Worship Street near Old Street tube station, has already attracted potential users eager to explore this innovative concept. Worldcoin promises to safeguard the privacy of those participating in the eye-scanning process. Nevertheless, the Information Commissioner’s Office (ICO), the data regulator, is taking a closer look at the scheme, stating that they will be making further inquiries.
Worldcoin aims to distinguish between verified humans and AI systems, offering universal access to the global economy irrespective of geographical location or background. It aspires to create an inclusive space for people to benefit in the age of AI. The Worldcoin protocol provides biometrically verified users with a digital identity in the form of a Worldcoin token – the first crypto token to be distributed freely to individuals solely for being real and unique persons. Users will also gain access to the World App, facilitating global payment, purchases, and transfers using digital assets and traditional currencies.
The project, co-founded by Sam Altman and theoretical physics student Alex Bania, has been in development for over three years. It officially launched with 2 million users from 33 countries participating in the trial stages, mainly from Europe, India, and southern Africa.
Sam Altman acknowledges that Worldcoin’s journey towards global-scale alignment will be challenging, with an uncertain outcome. However, he believes that finding new ways to share technological prosperity on a broad scale is a crucial challenge of our time.
Worldcoin’s launch has garnered global attention and sparked divided opinions. Twitter founder Jack Dorsey commented on the project’s aspirations, describing them as “cute.” Vitalik Buterin, a co-founder of the Ethereum network, shared mixed thoughts on Worldcoin’s launch, raising concerns about potential overreliance on the orbs for scanning and their possible “dystopian vibez.” He questioned the effectiveness and reliability of a proof-of-personhood system, especially for those unfamiliar with the existing crypto community.
