Worldcoin, the quirky eyeball-scanning cryptocurrency token co-founded by OpenAI chief Sam Altman, debuted on Monday with the promise of serving as a “privacy-preserving” global economic system.
The controversial project requires customers to scan their retinas with a tool called a “ball”, known as a “biometric verification device” in exchange for a so-called “world ID” that is exclusive to every user.
“The goal is straightforward: a worldwide identity card-based financial and identity network. this seems especially necessary within the era of artificial intelligence,” Altman wrote on Twitter together with the announcement of the launch. “I hope Worldcoin can contribute to conversations about how we share access, advantages, and governance of future AI systems.”
Altman and other proponents say the technology will help distinguish people from online bots as using AI grows – and even provide a platform to facilitate a “universal basic income” in the longer term by reducing identity fraud.
![Ball](https://nypost.com/wp-content/uploads/sites/2/2023/07/NYPICHPDPICT000014563509.jpg?w=1024)
“If successful, we consider Worldcoin has the potential to drastically increase economic opportunity, scale a sturdy solution to differentiate humans from online AI while preserving privacy, enable global democratic processes, and ultimately indicate a possible path to an AI-funded UBI,” Altman and fellow co-founder Alex Blania said in a press release.
After debuting at $1.70 per token, Worldcoin has surged to $3.58, in accordance with data from CoinMarketCap.
Its value hovered near $2.30 as of 10:45 ET.
Nevertheless, Worldcoin was not available within the US at launch attributable to regulatory issues.
![Altman herself](https://nypost.com/wp-content/uploads/sites/2/2023/07/NYPICHPDPICT000013910058.jpg?w=1024)
![Ball](https://nypost.com/wp-content/uploads/sites/2/2023/07/NYPICHPDPICT000014563508.jpg?w=768)
“Worldcoin consists of a privacy-protecting digital identity (World ID) and, where regulations allow, a digital currency (WLD) received simply for being human,” the co-founders said. “We hope that where the foundations are less clear, akin to within the US, steps might be taken in order that more people can profit from each.”
Worldcoin is Altman’s latest major project that has gained worldwide fame in recent months because the success of OpenAI’s ChatGPT has accelerated the race to develop advanced AI.
Earlier this 12 months, Microsoft invested $10 billion in OpenAI.
Basic Worldcoin website includes a press release from Altman and Blani, in addition to prompting users to schedule an Orb visit, download the “World app,” or read the Worldcoin white paper.
The corporate behind the Worldcoin project is Tools for Humanity, which has offices in San Francisco and Berlin.
Apart from the dreaded eyeball scanning requirement, Worldcoin has already generated some controversy ahead of its wide rollout.
The platform has drawn criticism for offering “free” scans in certain areas, in addition to for allegedly driving biometrics trading on the black market.
In May, reported the Financial Times that Altman was in “advanced talks” to secure roughly $100 million in additional funding for Worldcoin.
![world coin](https://nypost.com/wp-content/uploads/sites/2/2023/07/NYPICHPDPICT000014563511.jpg?w=1024)
Among the many project’s investors are Sam Bankman-Fried, the king of FTX, and LinkedIn co-founder Reid Hoffman.
Over two million users have already signed up for the Worldcoin beta.
As a part of its global launch, Worldcoin may have “balls” in 35 cities in 20 countries.
With postal wires