Worldcoin: OpenAI CEO Sam Altman Launches Biometric-Based Crypto Project

Sam Altman, the CEO of OpenAI officially launched Worldcoin, an innovative cryptocurrency project, on Monday.

Apart from issuing cryptocurrency, the app will allow users to make payments, purchases and transfers with it.

At the heart of this initiative lies the World ID, a biometric tool being touted as "digital passport", designed to demonstrate the validity of its user as a true human, rather than an AI bot.

Individuals must undergo an in-person iris scan using the 'orb,' a silver ball about the size of a bowling ball, to get a World ID. The orb performs an iris scan to validate the person's human identification before establishing their unique World ID.

The Worldcoin cryptocurrency token has also been issued to eligible people taking part in the beta and is now tradable, the official statement read.

Tweeting about the launch, Altman said, “Like any really ambitious project, maybe it works out and maybe it doesn’t, but trying stuff like this is how progress happens”.