Sam Altman, CEO of OpenAI, unveils audacious Worldcoin cryptocurrency initiative

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  • OpenAI CEO Sam Altman has launched the Worldcoin cryptocurrency project, which offers a unique digital passport called World ID to prove that the holder is a real human.
  • To obtain a World ID, users must undergo an in-person iris scan using Worldcoin’s ‘orb’ device.
  • The project has 2 million users from its beta period and is expanding its operations to 35 cities in 20 countries, aiming to address the economic implications of AI and potentially pave the way for universal basic income (UBI) implementation.

Sam Altman, the prominent entrepreneur and CEO of artificial intelligence research company OpenAI, has unveiled an ambitious new cryptocurrency initiative called Worldcoin. The cryptocurrency aims to create a universal basic income (UBI) by distributing tokens to every individual on the planet.

Altman, known for his forward-thinking ideas, believes that Worldcoin has the potential to revolutionize the global economy and address inequality in a unique way. The project aims to create a decentralized global currency that will be accessible to everyone, irrespective of their socioeconomic background.

Worldcoin plans to achieve this by creating a network of scanners that can identify individuals and reward them with cryptocurrency tokens. These scanners, known as Orb, will be worn around the neck and will utilize advanced facial recognition technology to verify the existence of an individual.

The initiative aims to address privacy concerns by purging any personal data collected during the scanning process, ensuring that individuals’ identities are secure. Altman emphasized that his team is committed to careful and ethical implementation of the project.

The Worldcoin initiative has already garnered significant attention and support outside of its creator’s circles. Prominent investors, including hedge fund manager Marc Andreessen, venture capitalist Katie Haun, and LinkedIn co-founder Reid Hoffman have reportedly backed the project with a $25 million investment.

Altman sees this initiative as a potential solution to wealth disparities and societal challenges exacerbated by the current economic system. He stated that Worldcoin aims to provide a UBI that can help people meet their basic needs, fostering a more equitable society.

However, critics have raised concerns regarding the centralization of power that may arise from such a project. The immense control that Worldcoin would exert over individuals’ economic lives has been a topic of debate within the cryptocurrency community.

Despite the skepticism, Altman and his team remain optimistic about Worldcoin’s potential impact. OpenAI, which has previously focused on advancing artificial intelligence technologies, is now directing substantial resources into the cryptocurrency space to drive this initiative forward.

As Altman introduces the Worldcoin initiative, the public eagerly awaits further details about its implementation. With its ambitious goals of tackling poverty and inequality on a global scale, Worldcoin could redefine the way we perceive and utilize cryptocurrencies in our everyday lives.

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