Worldcoin scans eyeballs and offers crypto. What to know about the project from OpenAI's CEO

abcnews.go.com:

Weeks after its international launch, Worldcoin is drawing the attention of privacy regulators around the world

NEW YORK — Weeks after its international launch, Worldcoin is drawing the attention of privacy regulators around the world, with the Kenya's government going so far as to shut down the service indefinitely.

The international ID startup, backed by big names in Silicon Valley, is now having to defend itself in investigations over whether the biometric data that the company is collecting is truly secure.

Here's what to know about Worldcoin and the concerns its raising:

WHAT IS WORLDCOIN?

Worldcoin is the creation of Sam Altman, best known as the CEO of OpenAI, the company that has gained widespread recognition with its artificial intelligence chatbot ChatGPT.

The goal of Worldcoin and the company backing it, Tools for Humanity, is to give people a form of identification that could never be stolen or duplicated. Worldcoin creates a “World ID” by scanning someone's eyeballs through “orbs” — a device that captures an image of their irises, the colored parts of the eyes.

One possible use for such an ID would be online services, where oftentimes people are having to remember multiple passwords and usernames for various websites they have signed up for.

The security of those sites can be flawed, however, and there have been numerous security breaches where usernames and passwords have been stolen. Instead of using old technology like passwords, a person could just sign up using their World ID.

WHAT IS ITS CONNECTION TO CRYPTO?

Worldcoin is first and foremost an identification project but is using cryptocurrency to get people to sign up. The Worldcoin token is trading for roughly $1.90, but its value is largely based