Worldcoin iris biometrics

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Worldcoin is a self-described 'digital identity and financial network' that combines cryptocurrency and iris scan technology to create a global digital identity system.

Worldcoin uses a 'chrome orb' to scan the irises and faces of people agreeing to sign up for a share of its new WLD currency.

Worldcoin was started in 2019 by Sam Altman and Alex Blania under the auspices of technology company Tools for Humanity (TFH). TFH claims it was established to 'accelerate the transition towards a more just economic system.'

The WLD currency started trading on July 24, 2023 under the auspices of the Worldcoin Foundation, a Cayman Islands 'exempted limited guarantee foundation company'.ย 

The currency trades in multiple jurisdictions - except the US, in which the laws are 'unclear', Worldcoin claims.ย 

Iris recognition

Iris recognition is an automated method of biometric identification that uses mathematical pattern-recognition techniques on video images of one or both of the irises of an individual's eyes, whose complex patterns are unique, stable, and can be seen from some distance.

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Transparency and accountability ๐Ÿ™ˆ

Worldcoin is seen to suffer from multiple transparency and accountability limitations:

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Worldcoin's governance, field-testing and other operational activities have caused controversy and resulted in regulatory investigations, bans and market withdrawls in several countries across the world.

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Type: System
Published: April 2022
Last updated: December 2024