A crypto startup founded by the creator of OpenAI intends to provide free tokens to people who agree to have their irises scanned by an orb in order to set up a robot-proof worldwide cryptocurrency.
Worldcoin is a startup co-founded by OpenAI founder Sam Altman to provide cryptocurrency in exchange for biometric data in order both to distinguish between humans and bots and to provide a universal basic income to counter future job losses caused by artificial intelligence permeation.
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Altman’s company reportedly raised $100 million in startup funds, according to the Financial Times. The project describes itself as an “open-source protocol” to make the technology accessible to all. While the company is in the early stages of development, questions about its handling of private biometric data and its interactions with various governments have raised eyebrows.
Launched in 2021 by Altman and co-founders Alex Blania and Max Novendstern, the project received initial funding from various investors to provide the start for a globally adopted cryptocurrency. Users can claim one of several crypto tokens from Worldcoin by using one of several iris scanners, or “Orbs,” to capture an image of their eyes to determine that they are real.
“The Orb checks that an individual is real and is unique or has not previously signed up for Worldcoin. It does this by capturing and processing images of an individual and their unique iris pattern,” Worldcoin says on its website. The data are either used to sign users up and then are deleted or are encrypted and stored within Worldcoin servers.
The company views itself as offering a version of “universal basic income,” providing free money through the promise of a digital currency distributed to all involved upon its launch of a token in 2023.
The project currently has 1.7 million users, most of whom are in the Southern Hemisphere. It also claims it will onboard tens of millions of users by 2025.
2/ The Orb is a custom biometric imaging device developed by @tfh_technology for the Worldcoin project. It uses iris biometrics to verify a person’s humanness & uniqueness in a way that’s secure & privacy-preserving. pic.twitter.com/usT7iGoPBm
— Worldcoin (@worldcoin) May 18, 2023
In order to acquire users, the company has turned to lower-income countries to offer free access to the currency through gig workers equipped with the Orb.
The company’s methods have earned it criticism from crypto skeptics.
“Beyond wanting to give away free home-made internet money, the purpose of harvesting massive amounts of biometric data, with little in the way of informed consent, was only vaguely understood by the orb operators,” Pete Howson, assistant professor at Northumbria University, told the Washington Examiner. The company deceptively marketed its products, collected more data than the user expected, and did not acquire sufficient consent, according to the MIT Technology Review.
At least one notable crypto developer is wary of the protocol’s plans for internationally distributing the technology. “Last I checked, I’ve seen 0 indications they have publicly accessible plans to deal with the huge socio-economic issues that are going to vary region to region,” tweeted Hudson Jameson, former Ethereum core developer. Jameson said that the company has failed to have people on its team who understand the affected countries or relevant policies that such a startup would need to deal with in its efforts to provide a UBI.
Users have also reported a growing black market for Worldcoin-provided data. Chinese users reportedly purchased iris scans on a black market due to the app not being available in China. The startup confirmed the sale of the scans but emphasized that the problem was confined to “a few instances.”
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Altman’s OpenAI created ChatGPT, one of the more popular AI-powered chatbots. The OpenAI CEO appeared before Congress on Tuesday, imploring legislators to find an agency for regulating and licensing artificial intelligence-powered products.
Worldcoin did not respond to requests for comment from the Washington Examiner.
