World claims to offer financial inclusion through identity verification, but critics warn it may sacrifice decentralization, privacy, and self-sovereignty. The crypto industry is no stranger to controversy, yet few projects have drawn more scrutiny than Sam Altman’s World, formerly known as Worldcoin. Promising to verify human uniqueness through iris scans and distribute its WLD token globally, World positions itself as a tool for financial inclusion. However, critics argue the project’s biometric methods are invasive, overly centralized, and at odds with the ethos of decentralization and digital privacy. At the heart of the critique is the claim that biometric identity systems cannot be truly decentralized when they rely on proprietary hardware, closed authentication methods, and centralized control over data pipelines. Read more
The digital identification project faces regulatory headwinds in the form of bans and legal scrutiny in several countries. World, OpenAI CEO Sam Altman’s digital identification project, raised $135 million from venture capital firms Andreessen Horowitz and Bain Capital Crypto, the company said in an announcement. The capital will be used to expand World's network of iris-scanning orbs and infrastructure in the United States, where the company said in April it would operate in six cities, and increase coverage around the globe, according to the announcement. More than 12.5 million individuals in over 160 jurisdictions have been issued a World ID, the company said. Read more