Sam Altman, a tech billionaire, is offering the cryptocurrency for free in exchange of an eye exam.
Worldcoin inventor and investor in technology Sam Altman is giving out bitcoin for free to those who are willing to have their eyes checked by an orb-shaped instrument.
According to Worldcoin 130,000 people have signed up so far, and the amount that each user gets will vary between $10 and $200 depending on how many sign up before the deadline. In 2023 Worldcoin is hoping to get one billion people on board.
The company has raised $225 million from investors in tech and has a market value of $1 billion. OpenAl was founded by Altman who was a physics student, Sam Blania, and Max Novendstern, a former investment associate at Bridgewater Associates.
Anyone who wants to use cryptocurrency for free will have their iris scan and then the image encoded into a unique number. The company claims that every test subject’s privacy will be protected.
Blania explainedthat “We built the entire system to be inherently privacy-preserving.” “The Iris codes are the sole thing that’s been removed from the orb. “There isn’t a large database of biometric information,” Blania explained.
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The Berlin-based startup hopes to generate 4,000 orbs each month and 50,000 a year beginning in November. There are currently 30 orbs as well as 70 staff who work for the startup.
One of Worldcoin’s primary goals is to encourage the use of bitcoin in order to be used as “infrastructure” for Universal Basic Income. UBI is based on the notion that the distribution of cash to each American citizen each month can lessen the effect of artificial intelligence and automation.
“[Worldcoin] began with a discussion that universal basic income will someday be something that is very significant to the globe, and in general, obtaining access to the internet economy will be much more vital than is clear at this point,” says Blania.