Sam Altman’s Rebranded Worldcoin Steps Up Iris Scanning Crypto Project

Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, said on Thursday it was changing its name to World Network and was ramping up efforts to scan the iris of every human being using its “orb” devices.

Its main offering is its World ID, which the company describes as a “digital passport” to prove that its holder is a real human being and set a difference with online AI chatbots.

World Network, which is facing scrutiny over its data collection, unveiled a new version of its orb iris scanning device at an event in San Francisco on Thursday, which it said features 5G connectivity and improved privacy and security features.

It also revealed a number of new ways to make the orb easier to access, such as purpose-built retail locations and a partnership with Latin American delivery service Rappi to bring the orbs closer to people.

To obtain a World ID, a customer registers to perform an in-person iris scan using the World Network “orb,” a silver ball about the size of a bowling ball.

Once the orb’s iris scan verifies that the person is a real human being, it creates a global ID. As an incentive, those who register in certain countries receive a cryptocurrency token called WLD.

The company behind World Network is Tools for Humanity, based in San Francisco and Erlangen, Germany. Since the project launched in July 2023, more than 6.9 million people have signed up to have their iris scanned, according to the company.

Privacy advocates have criticized the project for the collection, storage and use of personal data.

Earlier this year, Spain and Portugal issued temporary bans, and Argentina and Britain said they would examine World Network.

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