Worldcoin, a crypto project co-founded by OpenAI CEO Altman, is planning to release a World ID verification programme using eye-scanning to replace passwords.
OpenAI CEO Sam Altman’s plan for identity verification is raising serious questions about biometric privacy and the options companies pursue to replace easy-to-guess passwords.
Driving the news: Worldcoin, a crypto project co-founded by Altman, debuted its highly anticipated, years-in-the-making World ID verification program last week. It heavily relies on iris scans as proof of identity.
- Worldcoin also opened up the waitlist for developers interested in incorporating World ID into their own apps.
Why it matters: As companies increasingly incorporate generative AI into their products, developers are seeking ways to get ahead of the identity theft and online scams the emerging technology is already proliferating.
- Technology companies have also spent years looking for ways to replace easy-to-guess, phrase-based passwords.
According to Statista’s Digital Market Insights, estimated global search advertising revenue was estimated to be $260 billion last year and could reach $400 billion by 2026.
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