🔎 Combining Identity and Crypto

Today's Highlights

• Worldcoin - protecting peoples' identity by scanning their iris
• Blockchain jobs - a listing of fresh jobs related to web3/blockchain/crypto.
• In Other News - a few interesting developments we're tracking.

Worldcoin - protecting peoples' identity by scanning their iris

Worldcoin is perhaps one of the most audacious efforts to bribe the world to embrace their currency. The startup, founded by OpenAI CEO Sam Altman and Alex Blania, wants to put a crypto wallet (and some of their currency) onto every human’s smartphone, but in order to do so they have built a way to determine whether someone is a unique human. Worldcoin is aiming to make their proof-of-personhood network in the least dystopian way possible. That being said, it still requires scanning a billion people’s eyeballs with a five-pound chromatic sphere called “The Orb”.

Worldcoin has already shipped its orb-shaped devices to people in 12 countries. Testers get users to sign up by having their iris scanned. The image is then encrypted and becomes a unique code, while the original data is deleted to protect users’ privacy. Following that, users are given a free share of Worldcoin’s cryptocurrency.  

Worldcoin has built its system on Ethereum, the blockchain network behind the world’s second-largest cryptocurrency. Worldcoin chose to build on top of Ethereum largely because of its developer network. While plenty of crypto proponents want Bitcoin to become most people’s first exposure to cryptocurrencies, Blania sees too many scalability issues with the currency compared to an Ethereum Layer 2. Worldcoin hopes to tap into a fast-growing trend in crypto known as decentralized finance, or DeFi, which seeks to cut the middlemen out of traditional financial processes like lending and investing.  

Worldcoin has raised a total of $125M in funding.

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