Worldcoin co-founder Sam Altman affirmed that privacy concerns will decrease after Worldcoin open-sources its code.

The Open AI boss and Worldcoin co-founder suggested that blockchain and crypto could allay fears presented by the threat of “super” artificial intelligence (AI).

Speaking at the Worldcoin Seoul Meetup last weekend, Worldcoin co-founder Sam Altman said no one has answers to some of artificial intelligence’s toughest questions.

Meanwhile, CEO Alex Bania said the Worldcoin blockchain needs 100 million users to reach critical mass.

Worldcoin’s South Korean event comes in the wake of the launch of its World App in May. The company wants to build a decentralized digital identity system coupled with a new wealth distribution model using Worldcoin. 

Its orb technology photographs human irises and uses AI to learn what is truly human. Bania said the new technology’s importance will grow as the importance of distinguishing between human and synthetic content grows.

“AGI [Artificial General Intelligence] and Worldcoin are individual ideas, but they are relevant at a time when AGI is coming,” said Altman. “Worldcoin is also related to universal basic income, and there will be a lot of economic progress through it.”

Altman has set his sights on Korea as the next virtual currency and artificial intelligence hub. He said he would expand investments in Korean AI firms.

Worldcoin has got into hot water for gaps between its public messaging and user experiences. 

A Massachusetts Institute of Technology report revealed Worldcoin contractors offered developing nations free money in exchange for biometric data. Representatives collected more data than they admitted and failed to acquire meaningful consent. 

Respondents received Worldcoin and were told iris imaging was necessary to ensure equitable allocations. This is despite investors Andreessen Horowitz and Worldcoin employees receiving a 10% allocation apiece.

Worldcoin’s orb stores iris data encoded as an “IrisHash” and reportedly uses zero-knowledge proofs to check whether the information already exists on the Worldcoin network.

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While the company says data on the orb will eventually be deleted, details on interim handling of user data are scant, except that they will be fodder for AI algorithms to learn about humans. 

European regulators impose fines of up to 4% of global revenues for inadequately protecting the data of European citizens.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

The post Is Worldcoin Hype Simply Hiding a Mass Data Harvesting Exercise? appeared first on BeInCrypto.

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