Sam Altman Launches Worldcoin: Digital Passport and Universal Basic Income for Everyone
Worldcoin, a new cryptocurrency project from Sam Altman, the head of OpenAI, which we covered in mid-May, has officially launched today. The main product of the project is the World ID, or “digital passport,” which verifies that its holder is a real human being and not artificial intelligence. To obtain a World ID, users must undergo an iris scan using a special device called the “Orb”—a large, silvery device about the size and shape of a bowling ball. Once the Orb confirms that the person is real, it creates a World ID for the user.
The company behind Worldcoin is called Tools for Humanity, with offices in San Francisco and Berlin. The project already has about 2 million users from its beta testing phase, and now that number is set to grow as “Orb operations” roll out in 35 cities across 20 different countries.
As an incentive for registration, users are offered the WLD cryptocurrency token. At the time of publication, the price of the token is relatively low at around $2.25, with a peak of $5.29, according to Binance. However, cryptocurrency is unpredictable—WLD could one day skyrocket and make Worldcoin users rich.
Co-founder Alex Blania explained that blockchains can store World IDs in a way that ensures privacy and independence from any entity, even the most malicious hackers.
The Philosophy Behind Worldcoin
The philosophy of the project is that the World ID “digital passport” will be essential in the era of generative chatbots like ChatGPT, which produce content that is strikingly similar to human-made material. World ID can be used to distinguish real people from AI bots online, acting as a kind of future-proof CAPTCHA.
Altman stated that Worldcoin could also help address how the global economy will adapt to generative AI. “People will be augmented by artificial intelligence, which will have huge economic consequences,” said the OpenAI founder.
Universal Basic Income and the Future
One example that Altman especially likes is the potential for implementing universal basic income (UBI)—a social program that provides everyone with regular cash payments, regardless of employment status, income level, age, or other factors.
As AI takes over more and more jobs currently performed by humans, Altman believes that UBI could help fight income inequality and ensure survival for the poorest segments of the population. And since only real people can have a World ID, the project could help reduce fraud in UBI programs.
Altman believes that implementing UBI will take many years, but he is confident that Worldcoin has already laid the foundation to make it a reality.