Iris Scanning: A Futuristic Approach to Cryptocurrency Authentication

You might have heard of Sam Altman, the CEO of ChatGPT – he is the Co-Founder of Worldcoin, the cryptocurrency project that has brought together AI and biometrics through Iris Scanning.

Worldcoin is a digital identification platform that allows people to verify that human beings are the source of online text, videos, or other types of content, rather than generative AI software. In this day and age, we usually have no idea who we are speaking to when sharing information we have in every day-to-day life, over the laptop or through a text.

This project consists of a digital passport where you receive a crypto wallet and a cryptocurrency token. Part of the process of joining this project involves an iris-scanning biometric device called an ‘Orb.’ These scan user’s iris patterns which then creates personal and secure identification codes. This digital passport then proves ‘proof of personhood’ (Worldcoin have claimed that these scans cannot be duplicated to create false identities or engage in any fraud).

Sam Altman, CEO of ChatGPT

The official launch date was July 23, 2023, and Worldcoin are already in a position where they are able to scale up and create World IDs in more than 35 cities in 20 different countries, with more than 16 million users involved.

Now, as incredible as this project sounds, I asked myself one question – how safe is this?

There has been a lot of speculation around this AI-start up. Cryptocurrency has already had its challenges, but scanning eyeballs in exchange for crypto? Why would people want to give away their biometric data to a start-up?

It would certainly make me nervous.

Worldcoin have said that this information is deleted after being processed, but how do the 16 million users that are already involved know that their data isn’t being mishandled and potentially being used for surveillance, sold to third parties, or used to make false identities?

This year, hackers have also been able to steal the login credentials for Worldcoin, meaning they can view internal information. There is a push to attract people in countries such as Cambodia, Kenya, and Indonesia. The platform is being used in developing countries which is a very risky move as privacy laws aren’t as strong as they are in the EU or the USA. It makes you question, how are they getting these individuals involved.

It will be really interesting to see how this platform evolves and whether it’s going to take over the world with its approach. Worldcoin is in a position where they have received investment, boasts an easily accessible application process, and can distinguish between artificial intelligence and human beings.

What’s next for Worldcoin?

Natalia is a highly skilled talent partner. With a passion for identifying top talent and a strong commitment to customer service, she has established herself as a valuable resource to both clients and candidates in the data & analytics industry. Read more.