Vitalik Buterin is no fan of Worldcoin, the crypto coin of ChatGPT CEO Sam Altman

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Last Updated on 5 November 2023 by CryptoTips.eu

Regular readers of this site know that in May of this year we already told you about Worldcoin, the cryptocurrency of Sam Altman, the CEO of the company OpenAI (which also manages ChatGPT). We warned at the time that it could raise some serious privacy concerns given that you have to get your iris scanned in order to access a digital currency and ditto wallet. Apparently we are a minority as the value of Worldcoin has skyrocketed since its launch earlier this week.

Our concerns are shared by someone important though. Vitalik Buterin, founder of Ethereum, apparently thinks as we do.

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Worldcoin of Meta

Vitalik shared a lengthy blog post via social media called “What do I think about biometric proof of personhood?” . He lashes out at OpenAI and questions the company’s long-term purpose.

He sees several problems with the concept, not least the question of why a particular company would keep a database of everyone’s irises. Furthermore, according to him, you can easily copy this image and gain access to someone else’s digital wallet.

If we understand correctly, Vitalik thus believes Worldcoin not to be much better than Meta (formerly Facebook), another company that also knows more about the personal preferences of half the Western world than the people who share photos on this site would in fact like.

Success

Be that as it may, Worldcoin has been a great success so far. On its first day of launch on July 24, the coin shot up 88%. Several platforms are already offering it for trading and more than two million users have already signed up for the service.

The problem is that Worldcoin is not available in the United States, because the project has not yet been approved there.

Altman spoke to the Financial Times:

“When we started thinking about this, we didn’t think it would end up as ‘world minus the US coin’ and here we are. I’d say there’s 95 per cent of the world’s population not in the US. The US does not make or break a project like this.”

Undoubtedly there will be a follow-up to this story.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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