ChatGPT CEO intends to raise $100M for the Worldcoin 'Iris-Scanning' crypto project

26 MAY 2023

By: SAMIRA SIDDIQUI

Sam Altman, the CEO of OpenAI, is said to raise $100 million in funding for his Worldcoin iris-scanning crypto project.

Sam's crypto project

Worldcoin is a cutting-edge crypto project that aims to build a worldwide identification  by scanning people's irises to verify their individuality.

What is 'Worldcoin'?

Worldcoin plans to use eye-scanning technology to develop an international identification system for accessing cryptocurrency.

What's the plan?

How does Iris -technology work?

1. Individuals need to look into an orb-shaped device. 2. The device then records their iris pattern &  transforms into a biometric scanning code. 

How does Iris -technology work?

3. Once the identification has been verified, they will be eligible for free Worldcoin tokens. 4. It will also create a digital World ID that can be used in a wide variety of everyday applications.

Extra security features

According to Worldcoin, the iris-scanning technology will not reveal the user's identity and the personal information will be secured.