Would you allow someone to scan your eyeballs in exchange for free money? Sounds intriguing, isn’t it? Well, this thought-provoking idea has been put forth by none other than Sam Altman, the visionary founder of OpenAI and the mastermind behind Chad GPT. This intriguing question has raised not only technological and ethical considerations but also philosophical considerations. And this is where Worldcoin steps in.
Worldcoin has set out on a mission to pilot Universal Basic Income, and they’re doing it with their cutting-edge device known as the Orb. And guess what? Over 2 million people have already signed up for this extraordinary project. Not only that, but Worldcoin has also garnered the attention and investment of big players in the crypto world like Reed Hoffman, co-founder of LinkedIn, Gavin Wood, founder of Polkadot, and SBF, the founder of FTX. As a result, the valuation of the company skyrocketed to 3 billion in March 2022 after a funding round.
But why does Worldcoin seem to be so obsessed with our eyeballs, and why are famous people supporting them? That’s what we’re here to find out. So let’s go on a journey together and learn about Worldcoin’s special Orb and their really big goals.
Worldcoin presents a unique solution to address the identity verification crisis. They have developed a digital passport based on proof of personhood and access to Universal Basic Income. The company behind it is Tools for Humanity, which was co-founded by Max Novenster, Alex Blenya, and Sam Altman.
The Worldcoin Orb is a device that verifies users’ identities by scanning their irises to create secure and private identification codes stored on a decentralized blockchain. This ensures protection against fraud and fake identities. The Orb uses special sensors to make sure you’re an authentic and unique person while issuing a verified World ID. With a single scan, the Orb securely saves an anonymous iris code and issues your exclusive World ID.
To engage with the Worldcoin protocol, individuals must first download the World app, the first wallet app that supports the creation of a World ID. Later on, individuals need to scan their iris via the Orb to get their World ID verified. The captured data is then sent to a sequencer node to check if the hash has been registered before. If not, it gets connected to the user’s crypto wallet address. No repeated iris scans are needed, and all iris images are permanently deleted for privacy protection.
Worldcoin has already received a fair amount of criticism for its lofty goals and dubious methods. However, the company has issued a rebuttal highlighting its focus on uniqueness verification and not data exploitation. Despite the backlash, Worldcoin continues to test its platform and aims to build a global financial and identity network based on blockchain technology.
The rise of AI automation has raised concerns about job security and the authenticity of content. Deep fakes and advertisements using digital simulations and celebrities without their permission have become a growing concern. Worldcoin aims to address these concerns by providing a simple and foolproof way to prove one’s humanness online while maintaining privacy.
In conclusion, Worldcoin’s vision of piloting Universal Basic Income and their innovative use of the Orb for identity verification has attracted attention and investment from big players in the crypto world. While there are criticisms and concerns surrounding the project, Worldcoin remains committed to its mission of providing support for individuals grappling with job displacement due to AI automation and ensuring the authenticity of information in an AI-driven world.
