Downcodes editors take you through Sam Altman’s Worldcoin project, a controversial iris-scanning cryptocurrency scheme. The project attempts to use biometric technology combined with cryptocurrency to provide universal basic income for some people. However, its operating model is unclear, triggering widespread attention and investigations around the world. Currently, more than ten countries have launched investigations into the Worldcoin project, and its privacy and data security issues have become the focus of attention from all walks of life. Let’s take a closer look at the project that sparked global controversy.
Recently, SAM ALTMAN’s project, Worldcoin, has attracted widespread controversy and attention for its unique iris-scanning cryptocurrency plan. The project, called Worldcoin, attempts to combine biometric technology with cryptocurrency, with the goal of providing a universal basic income for some people, but so far no one can clearly explain how it works. According to the Wall Street Journal, more than ten countries around the world have launched investigations into the project.
So, how exactly does this project work? Users scan their irises using a metal sphere, and upon completion they can earn 25 cryptocurrencies unique to the platform. Thereafter, the user's iris information will be bound to the Worldcoin blockchain with his or her identity information. However, the privacy of this process and the security of data have triggered widespread doubts from governments around the world, and many people have doubts about it.
According to current investigation data, Worldcoin is censored in at least 14 countries, including France, the United Kingdom, South Korea, and Chile. These figures certainly raise concerns about the future of the project. Damian Killen, Worldcoin’s privacy officer, said in an interview with the Wall Street Journal that public distrust is inevitable and that they are cooperating with regulators. However, so far, this cooperation does not seem to have resulted in substantial progress, with the only big move being the company's commitment to verify the age of registered users, which makes it even more confusing since they were caught letting minors sign up in Portugal. There is something fishy about this project.
Worldcoin’s currency has been suspended in many countries where investigations have been carried out. The only country to complete its investigation is Kenya, which finally lifted its ban on the project after a yearlong investigation. In Argentina, Worldcoin was fined 20 for inappropriate terms in its terms of service. It’s worth noting that Worldcoin hasn’t officially launched its cryptocurrency in the U.S. due to “regulatory uncertainty,” but that didn’t stop journalists from trying out an iris scan at a coworking space in Brooklyn.
Highlight:
? Countries around the world are investigating Sam Atman’s Worldcoin project, and 14 countries have participated so far.
?️ Users need to obtain cryptocurrency through iris scanning, but privacy and data security issues have triggered widespread doubts.
? Argentina fined the project $200,000 and Kenya lifted its ban after completing a year-long investigation.
It remains to be seen what the future direction of the Worldcoin project will be. Its privacy and data security issues need to be resolved urgently, and the findings of regulatory agencies in various countries will also have a profound impact on its development. The editor of Downcodes will continue to pay attention to the latest progress of the project and bring more comprehensive reports to readers.