SAN FRANCISCO, Oct 17 (Reuters) – Worldcoin, the cryptocurrency project created by OpenAI CEO Sam Altman, announced on Thursday that it is rebranding to World Network. The company is significantly increasing its efforts to scan the irises of individuals using its “orb” devices.
World Network’s central offering is its World ID, which it presents as a “digital passport.” The purpose is to verify that the holder is a genuine human and can be distinguished from AI chatbots online.
The company, which has faced growing scrutiny concerning its data collection practices, unveiled a new version of its orb iris-scanning device during an event in San Francisco on Thursday. The updated device features 5G connectivity and improved privacy and security measures.
Furthermore, World Network introduced several new methods to increase access to its orb devices, including the establishment of retail locations specifically for this purpose and a partnership with the Latin American delivery service, Rappi, to bring orbs to potential users.
To acquire a World ID, a customer must register for an in-person iris scan using World Network’s “orb,” which is a silver ball approximately the size of a bowling ball. Upon verification of authentic human identity from the iris scan, the orb generates a unique World ID for the individual.
As an incentive, those who sign up in certain countries receive a cryptocurrency token known as WLD. The company behind World Network, Tools for Humanity, has headquarters in San Francisco and Erlangen, Germany.
Since the project’s inception in July 2023, over 6.9 million people have registered to have their irises scanned, according to the company. The project has drawn criticism from privacy campaigners concerned about the collection, storage, and use of personal data.
Earlier this year, Spain and Portugal issued temporary bans, and Argentina and Britain have stated they would examine World Network.
Reporting by Anna Tong in San Francisco; Editing by Sonali Paul
