New Worldcoin promises to give cryptocurrencies in exchange for eyeball scans

A new cryptocurrency startup called Worldcoin is promising to provide cryptocurrencies to everyone in exchange for a scan of their eyeballs. The news sounds strange but it's true. Worldcoin is a cryptocurrency project headed by Sam Altman and Alexander Blania, that aims to spread money around equitably to people around the world. Read on to know more about Worldcoin and their plan to give cryptocurrency in exchange for an eyeball scan. 

Worldcoin to give people crypto in exchange for eye scans

As per a report by Bloomberg, Worldcoin is a new crypto startup that intends to give cryptocurrency to every person on the Earth, in exchange for a scan of their eyeballs. The crypto company Worldcoin is backed by Andreessen Horowitz, who is also behind the venture capital branch of Coinbase Global Inc. Worldcoin has recently been in the news as it raised $25 million in funding from investors.

Sam Altman, one of the founders, behind the project revealed in an interview that he came up with the idea for Worldcoin crypto in late 2019. The aim of the company is to use cryptocurrencies to spread money equitably around the world, in the hands of the people. The inspiration behind this project is the economic concept of Universal Basic Income, which has recently become quite popular in recent times. 

“I’ve been very interested in things like universal basic income and what’s going to happen to global wealth redistribution and how we can do that better. Is there a way we can use technology to do that at global scale?” Sam Altman said in an interview. 

While not much information is about the elusive Worldcoin crypto project yet, Altman and Blania have revealed that the Worldcoin project is still preparing for a formal public unveiling, but for the time being, the startup is evaluating what it might take to get cryptocurrency in hands of as many people as possible one day. Blania says that many people in the world do not have access to financial systems yet and crypto has the opportunity to provide financial services to these people. 

As per the Bloomberg article, Worldcoin start promises a new global digital currency that will be launched by giving a share to every single person on Earth. The company plans to help economies transition from fiat-based to crypto-based economies. Blania has revealed that the reason behind the eye scam is to determine the proof of identity and ensure that individuals do not scam the system by registering multiple times. Stay tuned for more crypto news and updates. 

IMAGE: SHUTTERSTOCK