OpenAI CEO launches Worldcoin wallet for iris scan

OpenAI CEO Sam Altman's crypto project Worldcoin has announced the launch of a crypto wallet.

OpenAI CEO Sam Altman's cryptoproject Worldcoin has announced the launch of a crypto wallet. Through a wallet, users must authenticate themselves with the Worldcoin software and an iris scan.

The so-called "World App" supports its own Worldcoin (WLD), but also Wrapped Ethereum (WETH), Wrapped Bitcoin (WBTC), USDC, and the DAI stablecoin.

Thanks to the app, users can also authenticate with the World ID software "to prove that they are a real person and therefore can receive Worldcoin tokens," according to the app. WLD itself is not circulating yet, but is expected to launch later this year.

Using this software, websites can verify the authenticity of their users without storing personal data.

Additionally, users create a "global digital passport" stored locally on their smartphone. It shouldn’t be necessary anymore to enter a phone number or other sensitive data.

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Instead, it will be possible to prove a person’s authenticity via an iris scanner. This scanner links the unique data from a person’s eye to a digital identity card, making the system supposedly fraud-resistant.

In exchange for an iris scan, users earn WDC. Critics of the project are mainly concerned about data privacy and the rollout of the digital passport.