I am not an expert on crypto. In fact, I know practically nothing about it. However, I was surfing the internet when something called Worldcoin came up and caught my attention. Let's take a quick look into it...
So what is Worldcoin?
Co-founded by OpenAI CEO Sam Altman, Worldcoin is a digital ID platform that verifies the identity of the user and provides them with the cryptocurrency Worldcoin. As AI technology advances and it becomes harder to distinguish human from AI, Worldcoin aims to create “proof of personhood”. As stated on their website “Worldcoin aims to provide universal access to the global economy no matter your country or background, establishing a place for all of us to benefit in the age of AI.”
How does it all work and how is this “proof of personhood” accomplished?
1. WorldID:
Worldcoin revolves around the World ID, the unique ID that verifies an individuals "personhood". Through scanning a user’s iris using a device called the Orb to generate a unique code known as the IrisCode, the World ID is created. Worldcoin states that this code is not related to obtaining personal information, but rather to ensure an individual can only have one World ID. They also claim that the images of the irises are deleted after scanning.
2. World App:
The World App is essentially a cryptocurrency wallet that users can use to verify their identity. It can hold other cryptocurrencies including Bitcoin, with more currencies claimed to be supported in the future.
3. Worldcoin (WLD):
When you sign up for Worldcoin, you get access to the WLD cryptocurrency token.
Data Breach?
There are already many criticisms of Worldcoin, the main one being concerns that Worldcoin is collecting more information than they claim through the iris scans. Further, Worldcoin has received criticism for promoting the platform in the developing world, and has been accused of exploiting developing countries.
An MIT article also stated that Worldcoin was deceptive in its marketing and did not obtain “meaningful consent”. It goes on to explain that their investigation reveals discrepancies between Worldcoin’s public messaging and how users felt.
So, will you be signing up to scan you irises? And is Worldcoin a concern for data breaching? It seems like we’ll have to wait to find out :))
Written by Ingrid Li
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