Sam Altman’s rebranded Worldcoin ramps up iris-scanning crypto project

WORLDCOIN, a cryptocurrency project founded by OpenAI CEO Sam Altman, said on Thursday (Oct 17) it was rebranding to World Network and was ramping up efforts to scan every human’s iris using its “orb” devices.

Its core offering is its World ID, which the company describes as a “digital passport” to prove that its holder is a real human and tell the difference with artificial intelligence (AI) chatbots online.

World Network, which is facing scrutiny over its data collection, introduced a new version of its orb iris-scanning device at an event in San Francisco on Thursday, which it said features 5G connectivity and enhanced privacy and security features.

It also unveiled a slew of new ways to make it easier to access the orb, such as purpose-built retail locations and a partnership with Latin American delivery service Rappi to bring orbs to people.

To get a World ID, a customer signs up to do an in-person iris scan using World Network’s “orb”, a silver ball approximately the size of a bowling ball.

Once the orb’s iris scan verifies the person is a real human, it creates a World ID. As an enticement, those who sign up in certain countries receive a cryptocurrency token called WLD.

The company behind World Network is San Francisco and Erlangen, Germany-based Tools for Humanity. Since the project launched in July 2023, over 6.9 million people have signed up to have their irises scanned, according to the company.

Privacy campaigners have criticised the project over the collection, storage and use of personal data.

Earlier this year, Spain and Portugal issued temporary bans, and Argentina and Britain said they would examine World Network. REUTERS