Worldcoin, a part of Altman's expansive business empire, is designed to provide financial assistance to individuals whose livelihoods are disrupted by AI.
Sam Altman's Worldcoin Initiative Faces Global Backlash over Iris Scans, Raises Concerns about Biometric Database Creation
Sam Altman, the CEO of OpenAI, is facing a global backlash over his Worldcoin initiative, which aims to scan the irises of every person on the planet and compensate them with a unique cryptocurrency. The project, which is part of Altman's expansive business empire, has been met with resistance from numerous governments, leading to suspensions, investigations, and raids.
Worldcoin, which launched in 2023, is designed to provide financial assistance to individuals whose livelihoods are disrupted by AI. The project verifies human identity using iris scans and distributes payments in its WLD cryptocurrency. Despite claims of privacy, Worldcoin has been accused of encouraging users to share their iris images, raising concerns about the creation of a global biometric database.
Authorities in over a dozen jurisdictions have taken action against Worldcoin, including raids, fines, and criminal investigations. The project's future in the European Union is also uncertain. However, Altman, a prominent figure in the AI revolution, has defended Worldcoin, asserting that the project is working to address regulatory concerns.
"We've built a technology that by default is privacy-enhancing," Damien Kieran, the project's chief privacy officer, said in an interview. "We don't collect data to harvest it. We don't sell data. In fact, we couldn't sell it, because we don't know who the data belongs to."
Worldcoin has experienced rapid growth, verifying over six million people in nearly 40 countries, with a theoretical value of $15 billion. Altman, who has a stake in the project, has been working to expand its global presence, attracting users from both developed and developing markets.
WLD is actively traded, but in chat groups where holders congregate, the focus is more on using the token to bet on Altman's other ventures. For instance, its price nearly quadrupled following the February release of OpenAI's Sora video tool.
Worldcoin is implementing new measures to address regulatory concerns, including a reservation function for unverified users and additional security features for iris codes. The project's leadership, including Altman and co-founder Alex Blania, is engaging with governments and regulators to resolve these issues.
