Worldcoin, the cryptocurrency project initiated by OpenAI CEO Sam Altman, announced a rebranding to World Network on Thursday, along with an intensification of its efforts to scan the irises of people globally using its “orb” devices.
World Network’s central function is the World ID, which the company presents as a “digital passport.” The purpose of this ID is to confirm that holders are human and differentiate them from artificial intelligence chatbots online. The project is presently facing scrutiny regarding its data collection practices, yet it revealed a fresh version of its orb iris-scanning tool during an event held in San Francisco on Thursday. According to the company, this new device incorporates 5G connectivity in addition to improved privacy and security features.
The company also disclosed various methods designed to facilitate easier access to the orb, which include the establishment of specifically-designed retail locations, along with a partnership with the Latin American delivery service, Rappi, aimed at providing people with easier access to the technology.
To obtain a World ID, a customer must register for an in-person iris scan using World Network’s “orb,” a silver orb approximately the size of a bowling ball. Following the verification of a person’s humanity through the orb’s iris scan, the system creates a World ID. As an incentive, subscribers in select countries receive a cryptocurrency token called WLD.
The San Francisco and Erlangen, Germany-based company, Tools for Humanity, is the parent organization behind World Network. According to company reports, since the project’s debut in July 2023, over 6.9 million individuals have enrolled to undergo iris scans.
Privacy advocates have voiced concerns about the project, particularly regarding the collection, storage, and utilization of personal data. Earlier this year, temporary bans were enforced in Spain and Portugal, while Argentina and Britain indicated intentions to examine World Network’s operations.
