- Worldcoin, the iris-scanning crypto ID project, has attracted $100 million in fresh investment as it nears launch
- The project was savaged by the crypto space when it was announced in 2021
- Worldcoin is headed by OpenAI boss Sam Altman
Worldcoin, the eye-scanning identification project with its associated cryptocurrency, is preparing to launch after receiving $100 million in new financing. Worldcoin, which was started by OpenAI boss Sam Altman, was heavily criticized for its Orwellian approach to identity tracking when it was first mooted in 2021, but it seems that progress has been made behind the scenes and the concept is nearing completion.
Worldcoin Not Welcomed by Crypto Community
At the time of its announcement, this author compared its reception in the crypto community to that of “a drunk boar in a Ming vase exhibition” thanks to its eyeball scanning concept and its more than questionable tokenomics. Its resemblance to the Death Star from Star Wars also didn’t go unnoticed:
Reject modernity. Embrace tradition. pic.twitter.com/YyZ9Fmo3i2
— Graeme Moore 🅿️ (@MooreGrams) October 22, 2021
According to Worldcoin executives, their strategy addresses two problems posed by the increasing complexity of artificial intelligence: distinguishing between humans and bots, and providing a type of universal basic income that could potentially counteract job losses caused by AI.
The company’s plans hinge on the orb which “utilizes iris biometrics to verify an individual’s unique identity, then creates a digital World ID that can be used anonymously in a wide range of daily applications without disclosing the user’s identity,” as explained by the company. Users can receive free Worldcoin tokens once they have established their identity, although time doesn’t seem to have encouraged a change of heart:
On the surface, incredibly dystopian-leaning. Found the docs, looks like they’ll just be using eth infrastructure, semaphore (hilarious re: Altman’s past comments about blockchain ig).
The most confusing part of this whole thing to me: you base your blockchain on encrypted…
— Alan (@buxdabomb) May 14, 2023
Finally got a @worldcoin ID
The power of the orb 🔮 is irresistible, and it definitely doesn’t steal your soul, I promise! pic.twitter.com/3mEEueHdwl
— Roko (@RokoMijic) May 10, 2023
Of course, Altman has since become famous for helping to give the world ChatGPT, but it seems that he has also been working on bringing Worldcoin to life, too, although it seems unlikely he will meet with the same level of success.
