Solving world poverty with cryptocurrency and a silver ball-shaped iris biometric scanner
Digital technology that promises to change the world is quickly being replaced, it seems, by tech that enrages at least half the world.
An exclusive article in Bloomberg has uncovered a well-known idea man who wants to combine two concepts that together just might anger everyone.
The article in question outlines Worldcoin, a cryptocurrency project trying to maintain its stealth mode. Not only does it propose the universal cataloging of digital IDs in the form of iris biometric scans, Worldcoin also lays out a plan for a universal basic income.
Worldcoin was founded by three entrepreneurs, including Sam Altman, the one-time leader of the iconic incubator Y Combinator. The other two are Alexander Blania, who, until fairly recently, was a Caltech theoretical physics student, and investment-firm veteran Max Novendstern.
According to Bloomberg, Worldcoin would create a digital, global currency by giving as many people on the planet as possible shares of the currency. The shares would be assigned to people who have their irises scanned by a biometric device described as a silvery basketball thing that today costs $5,000.
The biometric scan image would be assigned a unique number and deleted without being stored. That number would be a person’s Worldcoin account number, with the biometric data used only for deduplication. Testing of the biometric orb is already underway on a small scale in some cities.
Bloomberg reports that Worldcoin has recently raised $25 million from investors including Andreessen Horowitz, Day One Ventures, Coinbase Global and LinkedIn founder Reid Hoffman.
Political and economic conservatives generally hold the idea of survival stipends in low regard. Some people left of center view the idea of corporate biometrics in similar esteem. And those of a fundamentalist Christian bent historically have associated the idea of giving people identification numbers as a sign of the End Times.
Success by Worldcoin could improve many lives, and at the same time create a Venn diagram of socio-political irritants.