July 26, 2023
People around the world are trading their eyeball scans for free cryptocurrency, in a project that has raised concerns among privacy campaigners and data regulators.
The project, called Worldcoin, was launched by Sam Altman, the CEO of ChatGPT developer OpenAI. It aims to create a new “identity and financial network” using biometric data, such as iris scans, to verify users’ identities. In exchange for having their eyeballs scanned, users receive 25 free Worldcoin tokens, which are currently worth around $2.30 each.
Some people have expressed concerns about the privacy implications of the project, as the biometric data collected could be used to track and identify individuals. However, Worldcoin says that it takes steps to protect users’ privacy, such as encrypting their data and only sharing it with third parties on a need-to-know basis. The project has also drawn the attention of regulators, with Britain’s data regulator saying that it is making enquiries about the UK launch of Worldcoin. Despite the concerns, some people are still willing to trade their privacy for the chance to get free cryptocurrency.
“I think it’s a good trade,” said 18-year-old commerce student Sujith, who had his eyeballs scanned at a mall in Bengaluru, India. “I don’t really have privacy concerns, and I’m always looking for ways to make money.”
The sources for this piece include an article in Reuters.
