The Los Angeles Post
California & Local U.S. World Business Lifestyle
Today: February 06, 2025
Today: February 06, 2025

Worldcoin aims to set up global ID network akin to India's Aadhaar

Digital coins in exchange for an iris scan: biometric imaging device Orb
April 26, 2024

By Elizabeth Howcroft and Martin Coulter

LONDON (Reuters) - Worldcoin, the cryptocurrency project set up by OpenAI CEO Sam Altman, aims to establish a global ID network akin to India's Aadhaar biometric ID system, a senior employee told Reuters.

More than 2.4 million people have signed up to have their irises scanned by Worldcoin's "orb" devices in exchange for a digital ID and free cryptocurrency, shrugging off privacy campaigners’ concerns that the database could be misused.

Worldcoin, co-founded by Altman, says its aim is to create a global identity and financial network, suggesting on its website a variety of ambitious use cases, including distinguishing people from artificial intelligence bots and providing a means for distributing universal basic income (UBI).

Worldcoin aims to set up global ID network akin to India's Aadhaar
Digital coins in exchange for an iris scan: biometric imaging device Orb

The company's head of product, Tiago Sada, told Reuters the company sought to emulate India's Aadhaar system, which ascribes unique ID numbers, and records individuals' fingerprints, face and iris scan.

"A really good analogy for the type of impact something like Worldcoin can have is the Aadhaar project in India," Sada, the company's head of product, engineering and design, said.

Various regulators, including in the United Kingdom and Germany, have said they were looking into Worldcoin following its launch in July.

Worldcoin aims to set up global ID network akin to India's Aadhaar
Digital coins in exchange for an iris scan: biometric imaging device Orb

(Reporting by Martin Coulter and Elizabeth Howcroft; Editing by Emelia Sithole-Matarise)

Related Articles

Amazon reports strong earnings for Q4, but stocks dip due to guidance for the 1st quarter Gold prices to remain up, reaching $3,000/oz in near-term, says Citi Pinterest projects revenue above estimates as AI tools boost ad spend; shares jump

Related

Business|Political|US

CEO of Politico’s parent company to Trump: ‘It’s not subsidies; it’s capitalism’

CEO of Politico’s parent company to Trump: ‘It’s not subsidies; it’s capitalism’

CEO of Politico’s parent company to Trump: ‘It’s not subsidies; it’s capitalism’
Business|Finance|Science|Stock Markets|Technology

Illumina forecasts 2025 revenue largely below estimates

Gene sequencing machine maker Illumina forecast 2025 revenue largely below Wall Street estimates on Thursday, signaling subdued demand for its genetic tests and diagnostic tools, sending

Illumina forecasts 2025 revenue largely below estimates
Business|Economy|Finance|Political|US

Treasury Secretary Scott Bessent wants to bypass the Fed to lower interest rates

Treasury Secretary Scott Bessent wants to bypass the Fed to lower interest rates

Treasury Secretary Scott Bessent wants to bypass the Fed to lower interest rates
Business|Finance|Political|Stock Markets|US

SEC lawyers exempt from Trump list request in possible firing reprieve, memo says

U.S.

SEC lawyers exempt from Trump list request in possible firing reprieve, memo says
Share This

Popular

Business|Economy|Lifestyle

Strong job market? Why this HR exec turned bathroom attendant isn’t feeling it

Strong job market? Why this HR exec turned bathroom attendant isn’t feeling it
Business|Finance|Political|Technology|US

DOGE was tasked with stopping Treasury payments to USAID, AP sources say

DOGE was tasked with stopping Treasury payments to USAID, AP sources say
Business|Science|Technology|US

Flying's gotten safer — and less reported on. Washington crash shows how the aviation beat is fading

Flying's gotten safer — and less reported on. Washington crash shows how the aviation beat is fading
Asia|Business|Economy

BOJ's fresh take on labour crunch opens door for more rate hikes

BOJ's fresh take on labour crunch opens door for more rate hikes