Sam Altman’s controversial identity verification project, Worldcoin, was launched yesterday. We now know how much a person earns who agrees to scan their iris to provide biometric data to the project. And that raises some questions.
An iris scan against cryptocurrencies
This is one of the major criticisms of the Worldcoin project, which fuels the controversy. Is it ethical to gamble on greed to collect the biometric data of many people? The project of Sam Altman, the creator of ChatGPT, stirs up both envy and debate this week.
We now have an idea of the amount in Worldcoin that people who scan their iris can claim. According to analyst Ignas, person received $62 in WLD after iris scan. This sum is destined to evolve, the price of Worldcoin still being very fluctuating. This morning, the token is trading at around $2, according to data collected by CoinGecko:
The price of the WLD is still very volatile after its launch
The total capitalization of the WLD currently stands at $217 million.
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The questions it raises
As several commentators have pointed out, if 62 dollars is a relatively modest sum in France and in Western Europe in general, it is not necessarily the case elsewhere. In countries with very fragile economies, where inflation reigns, it can be a substantial sum. And this is what can be problematic from an ethical point of view, according to critics of Worldcoin.
How to ensure that financially fragile users scan their iris out of a real desire to participate in the project, and not simply out of a need to earn money? According to the Worldcoin project whitepaper, users who have scanned their iris are indeed located in very varied regions:
Geographic distribution of users having scanned their irises
We see that as of yesterday, 63% of users who provided their biometric data are located in Africa and Asia. A total of 43 million WLDs will be distributed to users over the years. We know that Worldcoin officials have developed their project in particular in Sudan and Indonesia, which has led to criticism: have they taken advantage of the poverty of the inhabitants of these countries?
One thing is certain: the debates surrounding Worldcoin are not ready to stop. Sam Altman’s project, dystopian for some, revolutionary for othersis expected to set precedents for combining fintech with biometrics technologies.
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Source: CoinGecko
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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