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What is Sam Altman’s Worldcoin crypto project? How is it going to work?

Money Control

Money Control · 2y ago

What is Sam Altman’s Worldcoin crypto project? How is it going to work?

The Worldcoin protocol also has its own digital currency, WLD token, which will be initially distributed among users for free as they sign up, defining that they are unique humans, and the currency can be used for transactions and payments through a World-ID compatible app called World App. Read the article on the source link below to know more-

Related News

Altman's crypto startup Worldcoin sues Spanish regulator after ban

Inshorts · 1y ago

Altman's crypto startup Worldcoin sues Spanish regulator after ban

OpenAI CEO Sam Altman's crypto project Worldcoin has sued Spain's data protection agency AEPD after being banned in the country. "It is...unfortunate that they are spreading inaccurate and misleading claims about our technology globally," Worldcoin said. The project, which scans people's eyeballs, has been temporarily banned after AEPD received several complaints about it.

Inside Sam Altman’s eye-scanning crypto party

The Verge

The Verge · 3m ago

Inside Sam Altman’s eye-scanning crypto party

Sam Altman’s cryptocurrency project, Worldcoin, debuted in the US with an event in San Francisco featuring eye-scanning orbs to verify users' humanness. The project, co-founded by Altman and Alex Blania, offers 16 WLD tokens for verification via its Ethereum-based World Chain. Worldcoin plans to open locations in six major US cities. The event, highlighting this science fiction-like concept, featured a performance by Anderson Paak, reflecting Altman's influence in the tech sphere.

Vitalik Buterin has reservations about Sam Altman’s World project | TechCrunch

TechCrunch · 3m ago

Vitalik Buterin has reservations about Sam Altman’s World project | TechCrunch

Ethereum co-founder Vitalik Buterin has expressed concerns over the privacy risks of the digital identification system proposed by Sam Altman's World project, previously known as Worldcoin. The project uses eye scans and blockchain-based identity verification to differentiate humans from AI agents. While it employs zero-knowledge proofs to protect anonymity, Buterin argues that the system risks enforcing a unified public identity, potentially compromising privacy. He advocates for a "pluralistic identity" approach, avoiding single authority dominance.

OpenAI CEO Sam Altman promotes crypto project Worldcoin after fundraising report

Economic Times

Economic Times · 1y ago

OpenAI CEO Sam Altman promotes crypto project Worldcoin after fundraising report

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.

Spain blocks Sam Altman's eyeball-scanning venture Worldcoin: report

Economic Times

Economic Times · 1y ago

Spain blocks Sam Altman's eyeball-scanning venture Worldcoin: report

Spanish data protection regulator AEPD has ordered cryptocurrency project, Worldcoin, to immediately stop collecting personal data in Spain and cease using any data it has already gathered. AEPD has given Worldcoin 72 hours to demonstrate compliance with the order. Worldcoin, which aims to distribute cryptocurrency tokens to unique individuals using iris scanning technology, has faced concerns over privacy risks. The project has received support from major venture capital firms such as a16z crypto and Bain Capital Crypto.

Spain temporarily bans Altman's eyeball-scanning Worldcoin project

Inshorts · 1y ago

Spain temporarily bans Altman's eyeball-scanning Worldcoin project

Spain's data protection agency AEPD has banned OpenAI CEO Sam Altman's Worldcoin project for up to three months. The project scans people's eyeballs and offers them a digital ID and free tokens of its cryptocurrency. AEPD said it has received several complaints against Worldcoin regarding insufficient information and the collection of data from minors, among other things.

Portugal orders Sam Altman's Worldcoin to halt data collection

Economic Times

Economic Times · 1y ago

Portugal orders Sam Altman's Worldcoin to halt data collection

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.

Portugal orders Sam Altman's Worldcoin to halt data collection

Reuters · 1y ago

Portugal orders Sam Altman's Worldcoin to halt data collection

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.

Sam Altman is battling with governments over your eyes

Livemint

Livemint · 1y ago

Sam Altman is battling with governments over your eyes

OpenAI's Worldcoin initiative, led by Sam Altman, is facing regulatory obstacles as it aims to scan the irises of every person on Earth in order to distinguish humans from robots. The project has been investigated and raided in multiple countries, with concerns surrounding how it handles user data and scans children. Altman's vision is to assign a unique signature to every human being, but authorities in over a dozen jurisdictions have either suspended or probed Worldcoin's operations. The initiative is working with regulators to address concerns and is developing new processes to ensure user security and privacy.

Spain temporarily blocks Sam Altman's eyeball-scanning venture Worldcoin

Reuters · 1y ago

Spain temporarily blocks Sam Altman's eyeball-scanning venture Worldcoin

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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