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Worldcoin: Is the Future of Cryptocurrency Scanning Your Eyeballs?


Cryptocurrency seems to be the future of money, and Worldcoin is the latest cryptocurrency project that has been receiving a lot of attention from investors, technology enthusiasts, and the media alike. Founded by Alex Blania, who previously served at Google, and Sam Altman, the CEO of OpenAI, Worldcoin is different from other cryptocurrencies in that it requires scanning people’s eyeballs to verify identity, facilitate transactions, and provide access to its cryptocurrency wallet. While the idea of scanning eyeballs may seem controversial and invasive, it could also change the way we think about security and privacy in the digital age. In this blog post, we’ll dive into Worldcoin and discuss what you need to know about the project from OpenAI’s CEO.

Eye for an eye! How Worldcoin rewards you for scanning your irises. Read - Hindustan Times

1. What is Worldcoin?

Worldcoin is a cryptocurrency project that aims to make digital currency accessible and equitable for everyone. Unlike Bitcoin, Ethereum, or other cryptocurrencies that require users to have a computer or a smartphone, Worldcoin plans to use custom-built hardware in the form of a small device that can be worn around the neck. The device contains a camera that scans the user’s eyeballs and facial features to recognize and verify their identity. The device is also equipped with a small computer that connects to the internet and allows users to access their Worldcoin wallet and make transactions. Worldcoin’s team is working on building a network of thousands of these devices to distribute around the world and give people an easy and secure way to use cryptocurrency.

2. Why scan eyeballs?

The idea behind scanning eyeballs is to create a unique digital identity that cannot be faked or replicated. Unlike other forms of identity verification such as passwords, pins, or even biometric scans like fingerprints or facial recognition, the human iris has a complex and unique pattern that is virtually impossible to duplicate. Worldcoin’s technology uses machine learning algorithms to analyze the iris patterns and create a digital signature that is linked to the user’s cryptocurrency wallet. This means that even if someone else knows your password or steals your phone, they cannot access your cryptocurrency without also having your physical Worldcoin device and scanning your eyeballs.

Daniel Kertusha, 21, has his eyes scanned by an orb at a Worldcoin registration point in Barcelona, Spain, Friday, Aug. 4, 2023. Weeks after its international launch, Worldcoin is drawing the attention of privacy regulators around the world. The international ID startup is now having to defend itself in investigations over whether the biometric data that the company is collecting is truly secure. (AP Photo/Emilio Morenatti)

3. How is OpenAI involved?

OpenAI, a leading research institute focused on artificial intelligence and machine learning, is one of the partners of Worldcoin. Sam Altman, the CEO of OpenAI, has been working closely with Alex Blania and the Worldcoin team to develop the technology behind the project. Altman believes that Worldcoin’s approach to identity verification and access control is a breakthrough in the world of cryptocurrency and could pave the way for more innovative and secure applications of blockchain technology.

OpenAI's Sam Altman wants to convince billions of people to scan their eyes to prove they aren't bots. Meet Worldcoin, the founder's crypto project | Fortune Crypto

4. What are the challenges and limitations?

While Worldcoin’s technology sounds promising, there are also some challenges and limitations that the project needs to overcome. One of the biggest concerns is the potential for privacy violations and surveillance. If a company or government gains access to a user’s iris data, they could use it to track their movements, activities, and even health information. Worldcoin’s team has stated that they take privacy seriously and will not share or sell users’ data without their consent. However, users will need to trust that their data is being handled responsibly and securely.

Another challenge is the practicality of distributing and maintaining thousands of devices around the world. Worldcoin’s team will need to develop a robust supply chain, logistics, and maintenance infrastructure to ensure that the devices work properly and are not lost, stolen, or damaged. The cost of producing and distributing the devices could also be a limiting factor, especially in low-income countries where cryptocurrency could have the most potential to make a positive impact.


Worldcoin is a fascinating and ambitious project that could redefine the way we think about cryptocurrency and identity verification. While scanning eyeballs may seem like an invasive technology, it could also be the key to making cryptocurrency accessible and secure for everyone. With the involvement of Sam Altman and OpenAI, Worldcoin has the potential to push the boundaries of machine learning and artificial intelligence, creating new applications and use cases that we cannot even imagine yet. However, it is important to recognize the challenges and limitations of the project and work together to address them with transparency, accountability, and user trust. Only time will tell if Worldcoin can live up to its promise and revolutionize the way we use and interact with digital currency.