Worldcoin
Worldcoin is an iris biometric cryptocurrency project developed by San Francisco and Berlin-based Tools for Humanity. Founded in 2019 by OpenAI chief executive Sam Altman, Max Novendstern, and Alex Blania, it is backed by VC Andreessen Horowitz.[1][2][3][4][5]
In 2021, the company stated that its token (WLD) is intended to be a larger effort to drive a more unified and equitable global economy driven by the internet economy, although it will not be available in the USA. The token will be a Layer 2 Ethereum-based cryptocurrency that leverages the security of the Ethereum blockchain while having its own economy.[6][7]
Worldcoin's hopes to provide a reliable way to authenticate humans online,[8] to counter bots and fake virtual identities facilitated by artificial intelligence. Using a distribution mechanism for its cryptocurrency similar to UBI, Worldcoin attempts to incentivize users[9] to join its network by getting their iris scanned using Worldcoin's orb-shaped iris scanner.[10]
In October 2021, the project raised an initial $25 million. Within six months, an additional $100 million was raised pushing the token's value up to $3 billion.[11]
Further funding of $115 million was announced in May 2023, to be used for investment into bot detection, research and development, and expanding the Worldcoin project and application. While in beta, Worldcoin was reported to have onboarded approximatley two million users.[12]
In April 2022, a report from MIT Technology Review highlighted Worldcoin's controversial practices in low-income countries, citing that Worldcoin takes advantage of impoverished people to grow its network.[4]
In May 2023, TechCrunch reported that hackers had been able to steal login credentials of several of Worldcoin's iris-scanning operator devices.[13]
References
- ^ Aless, |; Mascellino, ro (2023-02-13). "Iris biometrics crypto project Worldcoin reportedly looks for $120M investment | Biometric Update". www.biometricupdate.com. Retrieved 2023-04-14.
{{cite web}}:|first=has numeric name (help) - ^ Loizos, Connie (2023-03-08). "Worldcoin, co-founded by Sam Altman, is betting the next big thing in AI is proving you are human". TechCrunch. Retrieved 2023-04-14.
- ^ Sethi, Richard Nieva, Aman (2022-04-21). "Worldcoin Promised Free Crypto If They Scanned Their Eyeballs With "The Orb." Now They Feel Robbed". BuzzFeed News. Retrieved 2023-05-27.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ a b Guo, Eileen; Renaldi, Adi (2022-04-06). "Deception, exploited workers, and cash handouts: How Worldcoin recruited its first half a million test users". MIT Technology Review. Retrieved 2023-05-27.
- ^ https://www.wired.com/story/get-free-crypto-orb-scans-eye/
- ^ "Sam Altman wants to give you crypto to scan your eyeballs. Can he get 8 billion people stare into a futuristic orb to prove they're not A.I. bots?". Fortune Crypto. Retrieved 2023-06-25.
- ^ Matney, Lucas (2021-10-21). "Sam Altman's Worldcoin wants to scan eyeballs in exchange for crypto". TechCrunch. Retrieved 2023-06-25.
- ^ Pandolfo, Chris (May 16, 2023). "OpenAI CEO Sam Altman raises $100M for Worldcoin crypto project, which uses 'Orb' to scan your eye: report". FOXBusiness.
- ^ "How the Launch Works". worldcoin.org.
- ^ "Opening the Orb: A look inside Worldcoin's biometric imaging device". worldcoin.org.
- ^ Levingston, Ivan; Hammond, George (2023-05-14). "OpenAI's Sam Altman nears $100mn funding for Worldcoin crypto project". Financial Times. Retrieved 2023-06-25.
- ^ Melinek, Jacquelyn (2023-05-25). "Sam Altman's crypto project Worldcoin got more coin in latest $115M raise". TechCrunch. Retrieved 2023-06-25.
- ^ Page, Carly (May 12, 2023). "Hackers stole passwords of Worldcoin Orb operators".
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