- Worldcoin reportedly secures $100 million in financing.
- OpenAI co-founder Sam Altman says Worldcoin can power the UBI infrastructure.
- Critics argue that iris scanning technology poses serious privacy concerns.
Sam Altman’s OpenAI has blown the world with it chat, which shows how powerful Artificial Intelligence (AI) can be. altman cipher project, worldcoinyou raise money to tackle the problems of an AI-dominated future.
Worldcoin aims to provide unique proof of humanity through iris scanning, an ambitious and controversial idea. Its current CEO even says it could play a role in Universal Basic Income (UBI) once AI takes over most jobs.
After that he is said to have approached security $100 million in financing On Monday, May 15th, Worldcoin moved one step closer to a full launch. Still, the eye-scanning technology is raising eyebrows among privacy advocates.
Worldcoin and “Proof of Humanity”
In the advanced world of artificial intelligence and Deep fakesIt is difficult to distinguish between people and machines. As artificial intelligence continues to disrupt society, Altman sees Worldcoin as important in managing these changes.
Worldcoin aims to provide verifiable proof of humanity using iris scanning technology. This initiative is supported by a device called the “Orb”, which scans the iris of the eye. The device then converts the scan into a short digital code, or hash, that is unique to each individual and serves as “proof of humanity.”
The project aims to get people to give away their vital information by offering free Worldcoin tokens. By making it available to every person on earth, Worldcoin seeks to achieve “fair distribution” of the token. It should be noted that the token has not yet been released for public sale and has no market value.
On the other hand, Worldcoin technology can have multiple applications. First, it can enable apps to check if their users are real humans. This would, for example, be useful for mitigating spam and helping address android problem on social media. But this is far from all of its uses.
Worldcoin and UBI Dream
In 2021, Worldcoin CEO Alex Plania proposed another use of Worldcoin as an infrastructure for The distribution of universal basic income (UBI). The system allows all citizens to receive an unconditional amount regardless of any income received elsewhere.
This concept is based on the idea of a future where universal basic income becomes a necessity rather than an option. As AI and automation technologies continue to advance, they threaten to displace human workers in various fields. In such a scenario, Universal Basic Income (UBI) can guarantee a basic standard of living.
The idea is not to turn Worldcoin itself into a form of UBI, but rather to use it as a vehicle for fair and equitable UBI distribution. Through its unique iris scanning protocol, Worldcoin can verify unique human identities. This can enable it to prevent fraud in the UBI system.
“I’m personally very excited about UBI over the long term,” Blania said. “I think it’s a very hard thing to implement right now.”
On the other hand, Silicon Valley investors seem excited about the potential of Worldcoin as a business. Despite being in beta, and having no revenue, the project has secured a staggering $3 billion in funding.
Despite lofty goals like UBI, investors see Worldcoin as a hugely profitable business. However, not everyone is on board.
Worldcoin: UBI or dystopia?
The pro-privacy advocate has questioned the project’s use of biometric data due to concerns of misuse. For example, technology that can identify users based on biometric data has dark implications.
Worldcoin recognizes this much in 2023 blog post. The use of biometric technology as a means of personal identification can spark ideas about a Dystopian or authoritarian futuresuggests the blog post.
“Unfortunately, there are regimes that abuse biometrics to limit personal freedom, and we are Strongly oppose such systemsexplains the blog post.
Others criticized the idea of offering monetary compensation for handing over biometric data. According to the investor Adam CochranThis approach It targets the most desperate In a society, he is seduced by the promise of free money.
Instead, they save the hash of the scan, which enables them to Learn about future biometric scans from the same person. However, these scans constitute specific information about the user, and also Worldcoin’s main selling point.
on the flip side
- The Worldcoin team says it opposes systems that use biometrics to limit freedom. However, there is no guarantee that the data they collect will not be used in authoritarian ways or that the team may be tempted or forced to hand it over to a third party.
- Some of the critics’ fears have already been realized. Specifically, concerns about data security. On May 12th Hackers stole passwords From many operators of the Worldcoin Orb.
Why should you bother
Worldcoin aims to address issues of the future where artificial intelligence dominates. At the same time, it sparks controversy around some of the core values of cryptocurrencies, including privacy, decentralization, and resistance to censorship.
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