- OpenAI’s ChatGPT founder Sam Altman is close to launching a crypto project called Worldcoin, which has raised $200 million in funding.
- Hudson Jameson, an ex-Ethereum developer, has expressed concerns about the project’s tokenomics and lack of transparency.
- Worldcoin uses an iris-scanning device to create a global ID system that will provide access to its global currency Worl.
OpenAI’s Crypto Project Worldcoin
OpenAI’s ChatGPT founder Sam Altman is close to launching a crypto project called Worldcoin. The project has already raised $200 million in funding from marquee investors including Andreessen Horowitz and the venture capital arm of Coinbase. With the support from these investors, the valuation of this project has reached $3 billion.
Former Ethereum Developer’s Concerns About Worldcoin
Former Ethereum core developer Hudson Jameson — who currently works with Polygon Labs — thinks that Worldcoin’s plans are “unrealistic and scary.” He expressed his concerns about the project’s tokenomics and lack of transparency.
How Worldcoin Works
Worldcoin uses an iris-scanning device called an orb to scan people’s eyes in order to determine if they are human. Those who participate by scanning their irises will be rewarded with Worldcoin tokens as a form of incentive. The goal is to use this technology as a form of global identification system that provides access to its own cryptocurrency Worl.
Potential Benefits & Risks
If successful, this could potentially provide users with secure access to digital payments on a worldwide scale without the need for traditional bank accounts or credit cards. However, there are potential risks associated with such projects like privacy issues or security vulnerabilities which may arise due to inadequate implementation of such technologies or malicious actors exploiting any flaws in its system architecture.