Worldcoin Expands Global Operations With Iris-scanning Technology Despite Privacy Concerns
Worldcoin, a cutting-edge fintech company co-founded by OpenAI CEO Sam Altman, has announced its plans to expand its operations globally and offer its revolutionary iris-scanning and identity-verifying technology to other organisations.
A senior manager from the company shared the news with Reuters, emphasising their mission to create a robust "identity and financial network."
Last week, Worldcoin made headlines when it launched its unique platform, requiring users to provide their iris scans in exchange for a digital ID and, in some regions, free cryptocurrency. During the trial period spanning the last two years, an astounding 2.2 million users signed up on the platform. The process involves users getting their faces scanned by a shiny spherical "orb," prompting concerns from privacy advocates about potential misuse of the collected biometric data.
Despite scrutiny from data watchdogs in Britain, France, and Germany, who have initiated investigations into the project due to concerns about large-scale processing of sensitive data, Worldcoin remains committed to its expansion plans. Ricardo Macieira, the general manager for Europe at Tools For Humanity, the San Francisco and Berlin-based company behind the project, expressed enthusiasm for the project's future.
Worldcoin raised USD 115 million from venture capital investors in a funding round back in May, bolstering its aspirations for growth.
Macieira asserted that Worldcoin would continue rolling out operations in various regions, including Europe, Latin America, Africa, and any parts of the world that accept the platform. The company's website highlights diverse possible applications, such as differentiating humans from artificial intelligence, facilitating "global democratic processes," and exploring the concept of universal basic income, although the outcomes are not guaranteed.
(Inputs from Reuters)
