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Sam Altman Launches World ID Orb with $42 Worldcoin Fee, 7,500 US Stations, Backed by $135 Million Funding | DeepNewz VC
deepnewz
·
1m ago
Medial
Sam Altman, recognizing the growing need to authenticate human identity amid AI advancements, founded the World Network (Worldcoin) with a focus on building “The Real Human Network.” Recently, World Network secured a $135 million loan, indicating strong financial backing, particularly from the US. This support contrasts with other initiatives like the Humanity Protocol, highlighting the competitive landscape in developing technologies to verify human identity in the AI-driven world.
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Spain temporarily blocks Sam Altman's eyeball-scanning venture Worldcoin
Reuters
·
1y ago
Medial
Spain has halted the cryptocurrency project, Worldcoin, temporarily due to concerns over privacy risks. Worldcoin, developed by Sam Altman, uses iris scanning technology to create a digital ID and provide free cryptocurrency. Spain's data protection regulator, AEPD, has demanded Worldcoin immediately stop collecting personal information and using data already gathered. The regulator cited high risks to individuals' rights and highlighted complaints about insufficient information, collection of data from minors, and withdrawal of consent. Worldcoin, whose "orb" devices have attracted 2.3 million users globally, has yet to respond to the ban.
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OpenAI CEO Sam Altman promotes crypto project Worldcoin after fundraising report
Economic Times
·
1y ago
Medial
OpenAI CEO, Sam Altman, is backing the cryptocurrency project Worldcoin, which aims to create a global identity and financial network. Altman emphasized the importance of human identification in an AI-driven world during a virtual Q&A session. Worldcoin plans to raise $50 million through the sale of discounted crypto tokens. The project has already attracted over 2.6 million people who have signed up for a digital ID and free cryptocurrency in exchange for having their irises scanned by Worldcoin's "orb" devices. Regulators in the UK and Germany are reportedly investigating the project.
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Sam Altman's World Assets Raises $135M for Biometric ID Expansion, WLD Token Jumps 14% in 6 Cities | DeepNewz VC
deepnewz
·
1m ago
Medial
World Assets raised $135 million by selling WLD tokens to a16z and Bain Capital Crypto, aiming to expand its global biometric ID system. As a result, the price of WLD tokens increased from $1.15 to $1.25. The sale introduced over 100 million new tokens into the market, contributing to the increase. Now, 12.5 million individuals possess Orb-verified IDs, highlighting the growing reach of World Assets' biometric identification initiative.
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Worldcoin Paris office checked by French data watchdog
Economic Times
·
1y ago
Medial
France's data watchdog, CNIL, conducted an inspection of WorldCoin's Paris office this week amid regulatory scrutiny on the digital currency company co-founded by Sam Altman, also a co-founder of OpenAI. CNIL previously raised concerns about the legality of WorldCoin's biometric data practices. WorldCoin requires users to provide iris scans for a digital ID and cryptocurrency. The WorldCoin Foundation stated that it's committed to privacy and regulatory requirements. The foundation is associated with the WorldCoin protocol and Altman is known for his role in creating ChatGPT and OpenAI.
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Worldcoin plans to resume iris scans in Kenya | TechCrunch
TechCrunch
·
1y ago
Medial
Crypto startup Worldcoin, co-founded by Sam Altman, faces a setback in Kenya as authorities suspend its iris-scanning activities due to security, privacy, and data protection concerns. Worldcoin is working with local regulators to address the issues and plans to resume iris scans while enhancing onboarding processes and crowd control measures. The suspension comes as Kenya was a significant market for Worldcoin's sign-ups, utilizing proprietary "Orb" devices to develop a global human identity and financial network, backed by over $500 million in funding.
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Sam Altman’s eye-scanning identification tech expands to UK
Economic Times
·
1m ago
Medial
Tools for Humanity, co-founded by OpenAI's Sam Altman, is expanding its eye-scanning Orb devices to the UK, starting in London and soon in other cities. These devices create a digital credential, World ID, from a person’s iris to differentiate humans from AI, amid rising AI threats. Though facing privacy scrutiny, the company claims no data storage, with 13 million users worldwide. Plans include expanding in the U.S. and launching a portable Orb Mini device.
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Portugal orders Sam Altman's Worldcoin to halt data collection
Economic Times
·
1y ago
Medial
Portugal's data regulator, CNPD, has ordered Worldcoin, the iris-scanning project led by Sam Altman, to cease collecting biometric data for 90 days due to concerns over citizens' data protection rights. Worldcoin offers digital ID and cryptocurrency in exchange for facial scans. The regulator received complaints about unauthorized data collection from minors and deficiencies in information provided to data subjects. Worldcoin claims to be fully compliant with laws and is transitioning to give users control over their data. The project has faced scrutiny and suspensions in various countries, including Spain and Kenya.
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Sam Altman backed Worldcoin slapped with a three-month ban in Spain: Here's why
Livemint
·
1y ago
Medial
Spanish authorities have implemented a three-month ban on Worldcoin, a project led by Sam Altman, due to concerns over privacy risks associated with its unique method of digital identification. The company's "orb" devices, which use iris scanning for user identification and provide free cryptocurrency, have faced global criticism for their data collection practices. The ban, issued by the Spanish data protection regulator, demands an immediate halt to data collection and use, following complaints about inadequate information, data collection from minors, and consent withdrawal issues. Worldcoin has responded, accusing the regulator of spreading inaccurate claims and circumventing EU law.
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Portugal orders Sam Altman's Worldcoin to halt data collection
Reuters
·
1y ago
Medial
Portugal's data regulator, CNPD, has ordered Worldcoin to cease collecting biometric data for 90 days. Worldcoin, a project led by Sam Altman, encourages individuals to have their faces scanned in exchange for a digital ID and free cryptocurrency. The CNPD cited concerns regarding the privacy and data protection rights of citizens, with over 300,000 people in Portugal having already provided their biometric data to Worldcoin. Worldcoin stated its compliance with all relevant laws and regulations and mentioned that it is transitioning to a system that gives users control over their data. The CNPD's temporary order is to allow for further investigation into complaints and due diligence. Worldcoin is facing investigations and criticism in various countries for its data collection practices.
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Sam Altman's rebranded Worldcoin ramps up iris-scanning crypto project
Economic Times
·
8m ago
Medial
Cryptocurrency project Worldcoin, now rebranded as World Network, is moving forward with its plan to scan every human's iris using its orb devices. The company aims to offer a digital passport called World ID to prove human identity online. The new version of the orb device features enhanced privacy and security features, along with 5G connectivity. World Network is partnering with Latin American delivery service Rappi and opening retail locations to make access to the orbs easier. Privacy concerns and scrutiny over data collection have been raised by campaigners and several countries.
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