Worldcoin Aims for Global ID Network Inspired by India’s Aadhaar
OpenAI CEO Sam Altman’s crypto venture Worldcoin, has expressed its intentions to establish a global identification system. Taking cues from India’s successful biometric system Aadhaar, the project aims to position itself at the intersection of identity verification and financial inclusion.
The Worldcoin project has co-founder Sam Altman at the helm. Over 2.4 million people have voluntarily had their irises scanned by the company’s “orb” devices.
In return, these individuals receive a unique digital ID and complimentary cryptocurrency. Notwithstanding concerns raised by privacy advocates about potential misuse of this vast database, enthusiasm for Worldcoin’s initiative remains palpable.
World App is designed to help make digital identity & global finance accessible to everyone.— Worldcoin (@worldcoin) November 1, 2023
Thank you for 4 million downloads pic.twitter.com/EmDDGhkpcV
At its core, Worldcoin envisions building an expansive identity and financial grid, with an array of far-reaching applications as projected on its official website. From distinguishing genuine human users from AI bots to potentially enabling efficient distribution mechanisms for universal basic income (UBI), Worldcoin’s aspirations are broad and transformative.
Tiago Sada, Worldcoin’s head of product, engineering, and design, elaborated on the venture’s inspiration. He compared Worldcoin’s potential impact to India’s Aadhaar initiative saying, “The Aadhaar project in India serves as an apt analogy for what Worldcoin might achieve.”
Yet, with every ambitious project comes scrutiny. Regulatory authorities in countries such as the United Kingdom and Germany are closely monitoring Worldcoin. They have initiated reviews of the project since its July launch. The crypto landscape is constantly evolving. In this context, Worldcoin stands out. It’s a prime example of how blockchain-based solutions challenge traditional systems.
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