Sam Altman, president of OpenAI, the company that created ChatGpt, has launched its own cryptocurrency. It is called Worldcoin and is equipped with an identification system based on the human iris. “Over three years ago, we launched (the company) Worldcoin with an ambition to create a new identity and financial network owned by everyone. And that starts today,” two of Worldcoin’s co-founders, Sam Altman and Alex Banja, said on the company’s website Monday.
The company has raised $250 million to date. Among its investors are notable names in American venture capital such as Andreessen Horowitz, Khosla Ventures and Reid Hoffman. The project is ambitious. maybe One of the most ambitious projects presented in the crypto world.
The goal is to create and distribute as many cryptocurrency wallets as smartphones in circulation. global encryption. But to do that, it takes a necessary condition, to be absolutely certain that behind the smartphone, behind the encrypted wallet, there is only one person. And here comes the role of the iris. The only biometric parameter capable of making this assumption. There aren’t many details on how to do this. But something has come out so far.
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The document introducing the project is about forty lines long and was circulated on Twitter on Sunday night. Worldcoin is best known as a digital identity and digital currency platform, “named simply for being human,” according to the website. In practice, the platform is based on “World ID”.
It’s hard to say exactly, but it promises to be a kind of digital passport that allows the owner to prove their identity online without sharing personal data. Part wallet, part identity document (and an existence document, because you can only scan your iris while you’re alive). At least this is according to the intentions and declarations of its founders.
To get their global identity, the user must go through an iris scan with an “orb,” a biometric device developed by Worldcoin. There are already many pictures circulating about what it could be.
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Users are invited to download the WorldApp, a digital wallet, which allows them to receive “Worldcoin tokens” starting Monday, July 24, a cryptocurrency already in circulation for the millions of users who participated in the beta version of the platform, as determined by Worldcoin.
“If successful, we believe Worldcoin can radically create economic opportunity by providing a trusted solution to differentiate between humans and AI online while preserving privacy (…) and could eventually be a potential path to a global AI-powered minimum income,” Sam Altman and Alex Bania wrote on the company’s website. So far unknown. But it is possible that the company is considering reward systems for intellectual property to be used by AI, as requested by regulators.
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“Like any truly ambitious project, it may or may not work. But you have to try, that’s how progress happens,” said Sam Altman, president of the company that last November published ChatGPT, a productivity AI interface that today has hundreds of millions of users around the world.
The Worldcoin project is not neutral. In fact, it has been heavily criticized both in the US and Europe because it actually opens up the possibility of mass biometric recognition projects. The concerns are those that have always prompted scientists and analysts to care about privacy issues. Because these projects can give life to the data collection systems of network users and crypto wallet holders.
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