Worldcoin, the new cryptocurrency project based on Sam Altman’s iris scanning, is attracting strong criticism regarding the privacy and security of user data.
“Scanning the eyeballs of all eight billion humans and then using that unique ID to offer small quantities of cryptocurrency to support them in a world upended by artificial intelligence.”
Thus Sam Altman, CEO of OpenAI, presented the cryptocurrency project destined, according to him, to change the world forever, during the Worldcoin launch party.
Worldcoin Party
The New York Times was present and explained how the project works: “Each Worldcoin sphere will contain a camera designed to record images of a person’s iris. The spheres will convert those scans into numeric code bits, which should act as a new type of digital ID." The company Tools for Humanity, of which Altman is a co-founder, will take care of it.
The company, as we have already explained to you in this article, has already set out to generate revenue by offering its system based on iris scan as an alternative to security technologies such as Captcha.
Meanwhile, Tools for Humanity has already raised $115 million from venture capital investors.
Worldcoin is, in fact, at the same time a digital ID recognition system and a cryptocurrency.
While Worldcoin and Sam Altman said the company doesn’t store or encrypt user data, concerns abound, especially around privacy.
Worldcoin’s Goal
As anticipated, Worldcoin’s concept is ambitious: scan the iris of all humans on Earth to provide them with a unique digital ID and use this technology to distribute small allotments of cryptocurrency to support them in a world dominated by artificial intelligence.
However, the privacy and security concerns of users’ personal information have attracted data protection experts and advocates.
The company Tools for Humanity, founded by Sam Altman, will manage the collection of iris scans and the creation of the corresponding numerical codes. Despite claims to do not store or encrypt user data, the EU and other privacy gatekeepers remain skeptical about the true transparency and security of the process.
Orbs
To obtain the Worldcoin cryptocurrency, users will need to have their iris scanned using a device called an Orb, which captures an image of the eye to create a unique code. According to the company, the image is encrypted and the original data is deleted, but many experts are still concerned about the possibility of abuse or theft of biometric data.
Some critics accuse Sam Altman of using the cryptocurrency guise to collect and store the iris scans of billions of people around the world.
Security and privacy risks
The collection of biometric data on a global scale can lead to serious implications for the security and freedom of individuals, as such information could be misused or abused by third parties.
Furthermore, the opacity regarding the actual number of tokens Worldcoin issued and the lack of transparency in the project architecture raises further questions about its credibility and the real protection of users.
While Sam Altman and Worldcoin claim to guarantee privacy and pseudo-anonymization of data, the lack of clarity and the possibility of abuse raise legitimate concerns regarding the use of such biometric information.
Personal data protection should be a top priority, and projects like Worldcoin should be carefully scrutinized and evaluated by independent experts to ensure users are not put at risk.
Transparency and information security are key to building trust in the cryptocurrency and biometrics-based technologies industry.
Original article published on Money.it Italy 2023-08-11 08:00:00. Original title: Globi che scansionano i bulbi oculari: i dubbi del NYT su Worldcoin, "la prossima mania cripto"
