Are you going to have your iris scanned? What’s behind Worldcoin, the controversial project that gives up to $500 per person

Less than a year after its official launch, Worldcoin, the project you deliver cryptocurrencies to anyone who is willing scan the iris of your eyes continues to generate so much interest as controversy.

Questioned by cybersecurity experts and blocked in several territories, the company co-founded by Sam Altman (the creator of ChatGPT) operates normally on the Argentina where it makes noise in the quick profits it offers to its users.

But what’s behind this digital passport which promises to solve the problem of human verification on the internet and provides a “renta universal” in exchange of biometric data? And above all, What dangers does it hide?

Worldcoin is a project that seeks to create a unique digital identity worldwide (World ID) through the iris scan. The company behind the project, Tools for Humanitybased in San Francisco and Berlin, offers users who undergo the process a cryptocurrency reward (tokens WLD) credited in an application (World App) that works as a crypto wallet and as “virtual passport”.

“The project comes to resolve, on the one hand, the economicwith a cryptocurrency that is distributed fairly among the people as a right to be human; and on the other, the part of the identity“he explains to Clarion the Mexican Tiago Nowhead of Product, Engineering and Design at Tools for Humanity.

The initiative proposes a solution to an increasingly bigger problem: With generative artificial intelligence in full swing, social networks have been infected for months by bots (software that performs repetitive, predefined and automated tasks) and deepfakes (fake photos or videos of people who look real). Worldcoin basically offers a technology capable of verify the existence of a real human an internet.

World App has integration with several popular apps (Mercado Libre, Telegram, Discord, Reddit, Shopify, Minecraft are some) where you can use the pasaporte digital World ID.

He only requirement to participate in the project (in addition to being human) is to have at least 18 years. Then the process is simple: just download World App, book an appointment at one of the scanning centers that the company has in the country and attend the appointment.

Verification is completed on site via The Orb (“the orb”), a striking metallic sphere with a digital reader that scans eye iris biometrics in seconds.

As soon as it was enabled in Argentina -in mid-2023- they began to see long lines of users in shopping malls, clubs and other verification points. According to company data, to date there are more than 500,000 people verified in the country (about 10% of 5 million that exists worldwide).

With the local economy in a state of permanent crisis, Worldcoin appears as a opportunity to get quick and easy money.

Immediately after the iris scan, a welcome bonus of 10 WLD is deposited in the application. From that moment on, users begin to receive 3 WLD bonuses every two weeks until reaching a total of 70 WLD approximately. The first to register were also awarded with a “genesis” bonus of 25 WLD which is no longer available, although it is possible to add more coins inviting other contacts to register.

That is to say, many of those first users are already accumulating about 100 WLD. At the time of publishing this note, with each WLD trading around $5, 100 WLD is equivalent to 500 dollars. Tokens are transferable to virtual wallets using the same blockchain network and can be exchange for US currency or even Argentine pesos via bank transfer.

The price of WLD, however, does not escape the common cryptocurrency: it is very volatile. In fact, just over a month ago came to quote 12 dollars per unit. Looking ahead, the value of the token could grow exponentially… or collapse and go to zero.

This is how he explains it Tiago Nowfrom Worldcoin: “Many people decide to keep the WLD. But some people who need the money sell it at the value that the market is buying it at that moment. Where does the price come from? Well, it’s supply and demand. It is not subsidized by investments. “They are currencies that are distributed to people for the simple fact of being human.”

“Welcome tokens are designed to give people a access route to participate in the digital economy without requiring them to make a direct investment. The objective of the project is to build a financial and identity network accessible, inclusive and equitable,” he adds.

Los benefits They are evident. But, that risks entails provide a company with biometric data such as the iris?

“The problem with providing biometric data is its immutable (permanent) nature. Before a eventual leak, the affected users would not be in a position to change them as they could in the case of passwords. With this leaked information, a malicious actor would have identity verification methods at their fingertips that would be difficult to dispute, and basically impossible to change“warns Mauro EldritchDirector of Birmingham Cyber ​​Arms, a cybersecurity company that reports data leaks.

At Worldcoin they say they take privacy very seriously. “Unlike other companies or technological initiatives, We have never monetized nor will we monetize user data. The World ID is private by design. It uses cutting-edge technology to protect the holder’s iris code from being known or tracked in applications and to protect the use of World ID without it being linked to any biometric data,” the company explains.

Suma: “We are not looking to know who you are, just that you are unique. Any user can be verified without the need to share any personal information such as name, email address or phone number. There is the option to cancel verification, which includes permanent iris code removal (numerical representation of the unique texture of the iris). The biometric data It is not registered in the Orb, is deleted immediately after the code is generated. And any user can change their mind and delete your information from the database of the app easily”.

So the risk is zero? No. It is never zero. Eldritch goes further: “Biometric data should not be transferred to Worldcoin or any third party. No one could guarantee the security of our data in the event of a possible leak. – like those we often see in Argentina -, much less respond sufficiently for any possible damage that could be caused. And I don’t mean economically,” she expands.

He Worldcoin debate It is not limited only to the world of computer security, but also extends to the world of laws and the ethic. Lucas of Venicelawyer specializing in Law and Artificial Intelligence, warns that “as we move towards an increasingly digitalized future, iris biometrics are emerging as our last bastion of individual privacy“.

“This trait, unique to every human being, not only provides a formidable barrier against unauthorized intrusions, but also symbolizes the definitive act of consent. By using our own biological attributes as access keys to digital spaces we are giving up our right to control who can cross the borders of our privacy,” he says.

According to De Venezia, the transparency of the process, the security of data processing and respect for individual rights are fundamental aspects to analyze. “What would happen if Worldcoin partnered with companies competing for the coin race?” big datahow do I target X?”he asks.

The project is closely watched by regulators in several countries. Kenya, Spain and then Portugal They ordered the company to suspend the collection of biometric data until they completed their investigations.

Worldcoin also has resistance in Argentina. Since its arrival in 2023, the company has received several complaints about possible violations of privacy laws. Personal data protection and of Consumer Protectionscanning points were closed (in La Plata, for example) and investigations are underway both in judicial offices (Buenos Aires and Mendoza) and in the Agency for Access to Public Information (AAIP).

“The main concern not only lies with the adaptation to current data protection regulations, pointing out that the consent to data collection is genuinely free and not induced by financial incentivesbut expands to a tacit recognition that the human labor obsolescence It is a situation that is approaching quickly,” concludes De Venezia.

So is it worth giving up the iris data in exchange for a handful of cryptocurrencies?