A worldwide basic income, with only one condition. How does Sam Altman envisage this?

How wonderful would it be to receive a basic income of several hundred or even thousand euros every month? Many (if not all) money worries would vanish into thin air and you could decide for yourself whether you want to work extra or spend your time on hobbies or travelling. 

The basic income would be a lot of money.

The name Sam Altman is mostly heard in connection with OpenAI and its AI bot ChatGPT. But the CEO has other topics on his mind besides artificial intelligences.

He is determined to provide us with a universal basic income. But to do so, he wants to scan our irises. This is Project Worldcoin

Basic income and a proof of humanity

Sam Altman has been working on (Project Worldcoin) since 2019, which has two goals.

The first goal: In times of artificial intelligence, according to Altman, you need to be able to better distinguish between humans and machines. To do this, you are supposed to scan your retina and thus create a so-called world ID. In return, you will allegedly be paid with the cryptocurrency Worldcoin – “[…] because you are unique individuals”. 

The second goal: The introduction of a kind of universal basic income. The founders of the project believe that artificial intelligence will lead to an “era of abundance” in the coming years. Through the Worldcoin, everyone should participate in this.

How can I participate?

(The Orb that is supposed to scan your retina to better distinguish you from an AI in the future. (Image: Twitter / A2Z Crypto Investment))

The Worldcoin has been in a testing phase since 2022 and is expected to be officially launched this summer. 

To participate in the project, you will have to scan your iris with a small gadget called an Orb. After the scan, your so-called World-ID will supposedly be stored, marking you as an individual and distinguishing you from AIs.

At the moment there are no Orbs in Germany However, those involved are working on it.

A dedicated wallet for Worldcoin

Worldcoin also comes with its own crypto wallet (an account where you store your cryptocurrencies). The World app is already available for download and should be able to be used for fee-free transactions as long as you have a World ID on file.

How will the system be financed?

At the moment, the financing is still running via the (Worldcoin Foundation). Later on, the project will be self-financing. How exactly this is to be done is not described in detail on the website.

The Financial Times reports that the project is close to receiving nearly $100 million from new and old investors.

OpenAI”s Sam Altman is making waves in the crypto space! $100 million funding close for Worldcoin project, poised to reshape the future of cryptocurrencies. Keep an eye on this game-changing endeavor! crypto Worldcoin pic.twitter.com/iMHZbMuFI1

– A2Z Crypto Investment (@crypto_a2z) May 15, 2023

Data protectionists criticise the project

Even though Sam Altman has promised that iris scans will be erased after each scan, there are some voices that are less than enthusiastic about the idea

Edward Snowden, for example, tweeted the following shortly after the project was announced in 2021:

“Don”t catalogue eyeballs“

Doubt crypto

Last year was a difficult one for the crypto industry. 2022 saw a number of crashes. FTX in particular was hit hard. That certainly didn”t boost confidence in the scene. However, the large amount of money that is now being put into the project could counteract this.

An exciting project that could change the world if it goes as Sam Altman envisions. Will you sign up for the project as soon as the Orbs are available in Germany? Feel free to write us in the comments!

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