The World’s WorldCoin By Silicon Valley Tech luminaries

Now the world has a WorldCoin, created by Silicon Valley tech luminaries, and it is something for Bitcoin hodlers to pay attention to: “Former Y Combinator head Sam Altman is cofounding a new cryptocurrency called Worldcoin, which has the goal of advancing universal basic income and would require iris scans to verify users’ identities, according to Bloomberg. Details are slim, as Bloomberg uncovered the startup before its launch, but the coin has backing from Andreessen Horowitz, Coinbase, and LinkedIn cofounder Reid Hoffman” (Fortune newsletter).

A San Francisco-based company wants to give everyone in the world an opportunity to get in on the cryptocurrency game. They’ll just need to scan your eyeballs first.

Bloomberg recently learned that a new company dubbed Worldcoin promises “a new global digital currency that will launch by giving a share to every single person on earth.” To prevent fraud, the startup says, it will require an iris scan to produce a unique numerical code for each person.

It’s currently testing the technology — a “silver-colored spherical gizmo the size of a basketball” — with volunteers in various cities in exchange for other types of digital coins like Bitcoin until the new cryptocurrency is ready. Leading the company is Alexander Blania, 27, a former student of theoretical physics at the California Institute of Technology. He told Bloomberg that the orb costs about $5,000 to make, though the price should decline as the company refines the process.

This one is special because unlike Bitcoin, the creators want us to know them. This creates the biggest challenge in the cryptocurrency world: what is the stable state of the best coin? Yes, Naira is naira, dollar is dollar, at least. But the “dog coin” is not the same as the “bit coin” and when you extrapolate, what happens in 25 years?

I remain optimistic that one person will create PeaceCoin. Yes, when you buy it, you will magically have peace unbounded! Now, get ready to use your iris to do coin!

Updated 7/24/2023: This coin is now launched

OpenAI CEO Sam Altman has pushed forward with Monday’s international launch of his cryptocurrency project, dubbed Worldcoin, despite regulatory tensions in the U.S. The digital asset’s centerpiece is a “digital passport” called a World ID that confirms a crypto holder’s identity through an in-person eye scan with a Worldcoin “orb.” Worldcoin already has 2 million users through beta testing, and Monday’s launch scales it across 35 cities in 20 countries. Because of the post-“crypto winter” U.S. regulatory crackdown, Worldcoin tokens won’t be available in the U.S. for the time being. Worldcoin more than doubled its initial $1.70 price before settling at about $2.13 by 7 p.m. EST, according to CoinMarketCap.

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