Worldcoin launch sparks debate over data privacy and future of AI
The controversial digital ID crypto project Worldcoin launched on July 24 after three years of development.
The project was co-founded by Sam Altman, the CEO of OpenAI — the company behind the popular artificial intelligence (AI)-based chatbot ChatGPT.
Worldcoin made headlines right after its announcement in June 2021, as it promised to create a futuristic digital identity system by scanning people’s eyeballs.
Worldcoin claims it will become increasingly difficult to differentiate between humans and bots online as AI technology advances. Thus, to differentiate humans from AI, it created a digital ID system based on “proof of personhood.” This digital ID will be generated by scanning an individual’s iris and giving them a “World ID.”
The firm claims all biometric data will be saved on a decentralized blockchain, and the project does not store any personal data. It generates a zero-knowledge proof to verify that the user is human without revealing the data used to create the proof.
Despite lingering controversy since its announcement, Worldcoin secured $115 million in funding in May and managed to garner over 2 million signups before its official launch to the public.
Worldcoin combines World ID and the Worldcoin (WLD) token — two essential ecosystem components.
The former is a privacy-focused digital identity that assists people in authenticating their identity and uniqueness online while protecting their anonymity. To receive a World ID, users must go through biometric verification using an “Orb.” After completing this verification, individuals are given a unique World ID and, where permitted by law, WLD tokens.
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