OpenAI CEO Sam Altman has launched a new cryptocurrency project, Worldcoin. But for this you have to scan your iris, among other things. We explain to you what’s behind it.

The company OpenAI only really gained popularity with the brilliant start of ChatGPT. Now CEO Sam Altman is attracting attention with a new project. We are talking about the so-called Worldcoin – a new cryptocurrency that has now officially started.

This is behind Worldcoin

The company Tools for Humanity founded Worldcoin more than three years ago. The company’s stated goal is “to create a new identity and financial network that belongs to everyone”. At least that’s what it says on the website.

After an extensive beta phase with around two million users, the Worldcoin project officially started in July 2023. 35 cities in 20 countries are participating at the beginning.

What distinguishes the Worldcoin from other cryptocurrencies?

But Worldcoin should not only function as a cryptocurrency in the future. A so-called World ID is required for registration. This should help to distinguish between real people and artificial intelligence.

“In the age of AI, the need for proof of personality is no longer a serious topic of discussion,” explains co-founder Alex Blania. Rather, it is about the question of how this proof can be “data protection-friendly, decentralized and maximally inclusive”.

Through its unique technology, Worldcoin wants to give everyone in the world, regardless of origin, geography or income, access to the growing digital and global economy in a privacy-friendly and decentralized way.

But the founders don’t just have an eye on participation in the global economy. Worldcoin is also “a potential way” to realize an “AI-funded universal basic income”.

According to Sam Altman, this is particularly necessary because in the future artificial intelligence will “take over more and more of the work that is done by humans today”. With the unconditional basic income, it is possible to compensate for inequalities in income.

This is how you can use the new cryptocurrency

A World ID is required to use Worldcoin. To do this, interested parties – similar to the Postident procedure – have to be verified as real people.

But unlike Postident, no ID needs to be presented for the World ID. If you want to register, you have to make an appointment at a Worldcoin Orb. In Germany this is possible in Berlin.

The Orb – a silver-colored ball – then scans your iris. Once the company has verified your iris scan and identified you as a real person, you will receive your World ID.

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