Biometric Cryptocurrency Launched – Worldcoin scans people’s eyes in order to identify them

Worldcoin is a new cryptocurrency that scans people’s eyes in order to identify them and then gives them a portion of its collectively-owned currency.

According to the company, it wants the digital currency to be distributed fairly to as many people as possible.

Alex Blania and Sam Altman, co-founders, have invented an Orb device that can capture an image of the eye and convert it to a unique numerical code that can then be used to identify someone.

This process, it claims, is essential in its model to ensure that the coins are distributed to a human (and no bot) and that nobody tries to claim more than what they are owed.

Worldcoin is just a few months away from launching globally. It claims this method is much more convenient than traditional methods of identifying individuals as no additional personal information is required.

Images will not be stored, uploaded or associated with any crypto-wallet transactions or user’s crypto wallet, in order to preserve privacy.

Many people are waiting for hours to get their share of the field tests being conducted in different locations all over the world.

After field testing are complete, the company plans to increase production.

A single Orb device can currently onboard approximately 700 new punters each week. Altman and Blanie hope to make 50,000 devices annually.

The company raised US$25mln funding before its global launch. It is now valued at US$1bn.


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.