A few months ago the company Open AI turned upside down in a fast growing market artificial intelligencewith application ChatGpt, which gives out texts, responding to the user in an almost human style. Now his head Sam Altman intends to “blow up” another industry, an industry cryptocurrencies.
Altman is one breath away from getting close to $100 million to fund his plan to use technologies iris scan. Its ultimate goal is to create a secure and global cryptocurrency called Worldcoin.
It may not be obvious at first glance, but the two concepts are related. Specifically, Worldcoin was founded by Altman and Alex Blania in 2019 and has a big vision: to use eye-scanning technology to create a user verification system that can be used to freely access Worldcoin’s native cryptocurrency. Yes, according to sources cited by the Financial Timesthe company is in talks to raise new capital, preparing for a launch in the coming weeks.
It is noted that at the beginning of last year, the digital assets (tokens) of the company were estimated at $3 billion. Since then, of course, the cryptocurrency market has been hit hard, investor confidence has collapsed, and many companies in the industry have gone bankrupt.
He plans to create a user verification system for the new Worldcoin cryptocurrency.
However, Worldcoin executives say the company’s plan faces two challenges at the same time, arising from the growing influence of artificial intelligence in our daily lives. Firstly, the differentiation between humans and robots, and secondly, the creation of a kind of universal basic income that could compensate for the jobs that will be lost due to the introduction of artificial intelligence.
Key to the company’s design is a spherical device that uses iris biometrics to create a unique digital identity. It then creates a digital World ID to be used for a number of daily transactions without revealing the user’s true identity.
Once users have verified their identity, they will be able to receive Worldcoin cryptocurrencies.
Of course, it should be noted that the company has received harsh criticism on many issues, especially regarding the violation of personal data in biometric scanning. In fact, the company dedicates a separate section on its website for answering related questions.
Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.