Despite the controversy, Worldcoin has attracted more than two million registrations, partly due to the offer of its own crypto token, WLD, to those who scan their eyes. Altman hopes that the project could lead to a universal basic income for users. However, critics have labeled the project as dystopian and invasive, and there have been reports of deceptive practices and data mishandling. Regulators worldwide are closely monitoring Worldcoin, with probes announced in France and the UK, and a cessation demand issued in Kenya.
Key takeaways:
- Worldcoin is a project from OpenAI founder Sam Altman that uses orbs to scan people’s eyes in exchange for a digital ID and possibly some cryptocurrency. The aim is to provide a new solution to online identity in a digital landscape rife with scams, bots and AI imposters.
- Worldcoin has faced criticism and controversy due to its collection of biometric data and concerns over how this data will be protected. Kenya became the first country to suspend Worldcoin’s activities and launched an investigation into the project’s practices.
- Worldcoin officially launched in July and claims that more than two million people have registered for World IDs. The project has created its own crypto token, WLD, and has offered 25 units to anyone who scanned their eyes into an orb, except in the U.S. due to regulatory restrictions.
- Worldcoin has faced criticism for its business model, with some calling it dystopian and akin to bribery. There are concerns about the potential misuse of the biometric data collected, and the project has been accused of using deceptive practices to sign people up in certain countries.