Worldcoin, a project founded by Sam Altman, the CEO of ChatGPT developer OpenAI, is making waves in the cryptocurrency world. The project, which aims to create a new “identity and financial network,” is offering a digital ID and the promise of free cryptocurrency to users willing to have their eyeballs scanned.
Worldcoin’s Promise: Digital ID and Free Cryptocurrency
The Worldcoin project launched recently, with iris scans taking place in countries including Britain, Japan, and India. The digital ID provided by Worldcoin allows users to prove online that they are human, not a bot, among other things.
The Role of Iris Scans in Worldcoin’s Identity Verification
At a crypto conference in Tokyo, attendees queued in front of a gleaming silver globe, the device used to scan their irises. After the scan, they waited to claim the 25 free Worldcoin tokens the company offers to verified users.
User Perspectives on Worldcoin’s Data Collection
Users interviewed by Reuters expressed a mix of curiosity about the project and concerns over data collection. Some were willing to overlook potential privacy risks in exchange for staying up-to-date with the latest crypto projects and the promise of free tokens.
Privacy Concerns and Regulatory Scrutiny Surrounding Worldcoin
However, privacy campaigners and data regulators have raised concerns about Worldcoin’s data collection practices. The Electronic Privacy Information Center, a U.S. privacy campaigner, described Worldcoin’s data-collection as a “potential privacy nightmare.”
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