As investors race to capitalize on surging interest in cryptocurrencies, startups are getting creative in how they onboard a generation of crypto users to their first wallets. From a report: Worldcoin is perhaps one of the most audacious efforts to bribe the world to embrace their currency. The startup, founded by OpenAI CEO Sam Altman and Alex Blania, wants to put a crypto wallet (and some of their currency) onto every human’s smartphone, but in order to do so they have to build a way to determine whether someone is a unique human. Worldcoin is aiming to make their proof-of-personhood network in the least dystopian way possible, that being said, it still requires scanning a billion people’s eyeballs with a 5-pound chromatic sphere called “The Orb.”
The internet has developed with a very amorphous mesh of user networks. Bot networks operate alongside real people using their real identities, alongside users impersonating real people, alongside pseudonymous users. This can be a recipe for misaligned user incentives, as modern social media platforms have showcased, but when it comes to finance it can also be a recipe for fraud and inequality. Worldcoin wants to avoid all of that while ensuring equitable distribution of their currency, ensuring that each human on earth only signs up for one wallet in their network. Worldcoin CEO Alex Blania tells TechCrunch that the currency is part of a larger effort to drive a more unified and equitable global economy driven by the internet economy, something cryptocurrencies notably haven’t nailed in their first several years.
of this story at Slashdot.
Source:: Slashdot