Sam Altman launches Iris-scanning digital identity cryptocurrency

25/07/2023 | Reuters

A new cryptocurrency project called Worldcoin, founded by OpenAI CEO Sam Altman, was launched on Monday. The project's main feature is its World ID, which acts as a "digital passport" and confirms that the holder is a human and not an AI bot. To obtain a World ID, users must undergo an in-person iris scan using Worldcoin's orb. San Francisco and Berlin-based Tools for Humanity is the company behind Worldcoin, which has 2 million users from its beta period and is expanding to 35 cities in 20 countries. Some countries will receive the cryptocurrency token WLD as a reward for signing up. WLD's price rose to $5.29 on Binance, the world's largest exchange, and saw $25.1 million in trading volume.

In response to the launch, Decrypt reports that the Information Commissioner's Office (ICO) will be making enquries about the company's data processing actitivies. In an emailed statement, the ICO said, "We note the launch of Worldcoin in the UK and will be making enquiries." 

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