OpenAI CEO raises $115M for crypto company that scans people’s eyeballs – Ars Technica
OpenAI CEO, Sam Altman, has announced that he has raised $115 million to fund a new cryptocurrency company that uses machine learning algorithms to scan people’s eyes to identify them. The new company, known as IDscan, will use blockchain technology to store the identification data, which, according to Altman, will provide “unprecedented levels of security and privacy.”
The announcement has caused controversy, with some critics accusing Altman of creating a “surveillance state” and others dubbing the technology “endlessly dystopian.”
The concept behind IDscan is simple enough. The system uses machine learning algorithms to scan people’s irises and create a unique digital ID that is stored on the blockchain. This allows people to easily verify their identity without needing to carry traditional forms of identification, such as a passport or driver’s license.
However, the system has raised concerns about privacy and security. The use of blockchain technology to store identification data has been criticized as potentially creating a “honeypot” for hackers. Additionally, some have raised concerns about the accuracy of the machine learning algorithms used in the system.
Altman has addressed these concerns in a statement, saying that IDscan uses “cutting-edge” machine learning algorithms that have been extensively tested and verified for accuracy. He also said that the use of blockchain technology provides “unprecedented levels of security and privacy” by making it more difficult for hackers to gain access to the data.
Despite these assurances, the announcement has caused concern among privacy advocates and civil liberties groups. The idea of scanning people’s eyes and storing their identification data on a blockchain has been compared to the dystopian worlds portrayed in films such as Minority Report and 1984.
In response to these concerns, Altman has said that the technology will be used only for “legitimate purposes” and will be subject to strict regulation. He also said that the system will be tested extensively before it is rolled out to the public.
Despite the controversy, there are some who believe that IDscan could provide significant benefits. The system could potentially make it easier for people to access services and prove their identity, particularly in countries where traditional forms of identification are not widely available.
Additionally, the use of blockchain technology could provide greater security and privacy by making it more difficult for identity theft and fraud to occur.
Ultimately, the success of IDscan will depend on how it is received by the public and how well it is able to address concerns about privacy and security. If Altman is able to address these concerns and build trust in the technology, it could potentially revolutionize the way we think about identity verification.
Worldcoin’s “Orb” is a device that uses iris biometrics to verify a person’s unique identity for the Worldcoin crypto coin project. Co-founded by OpenAI CEO Sam Altman, Worldcoin aims to become the world’s largest and most inclusive identity and financial network through its World ID system and token. To obtain a World ID, a person can visit a physical location and use the Orb to verify their personhood. Worldcoin’s World app can be accessed without signing up for a World ID, but signed-up members receive free tokens and currency. Currently in beta, Worldcoin’s tokens are not intended for people in the US or other restricted territories. However, the Orb hardware will be available in certain US cities from May through July. Various investors, including Blockchain
Capital and Andreessen Horowitz’s crypto fund, have provided $115 million in Series C funding for Worldcoin. Some concerns have emerged regarding the security of the Orb and World ID, including a recent “black market” for Worldcoin credentials in China and compromised personal devices of Worldcoin operators. However, Worldcoin has stated that it does not sell or compromise users’ personal data and that its system enables a new privacy-preserving primitive for the internet.