How Much For Your Data? This Company Gives Free Crypto For Your Eye Scan Data

An online project wants to offer cryptocurrency to everyone, in exchange for their eyeball scan as biometric authentication.

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Reported first by Bloomberg, the crypto that¡¯s doing this is Worldcoin. The digital currency has been co-founded by the former head of Y Combinator Sam Altman and has been backed by Andreessen Horowitz.

As per an official release, the currency revealed that it has managed to garner over 60,000 sign-ups in the last four weeks. The currency claims the reason behind eye scans is to have biometric authentication to ensure that the allocations are only for one person and prevent an individual from applying for multiple allocations.

Worldcoin highlights that the user accounts aren¡¯t associated with any of the biometric data. Moreover, Orbs are able to resist fraudulent activity such as spoofing and tampering.

In the release, the company also stated that it was still early to say but initial results of the field tests indicate that Worldcoin could soon connect the first billion users in one commonly-owned crypto network.

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The cryptocurrency currently has a fixed supply of 10 billion tokens with 20 percent utilised to fund the production of Orb iris-scanner devices as well as initial protocol development.

Representational Image: Reuters

The remaining are reserved for users and operators that are helping with the launch of Worldcoin. It has also stated that the number of tokens per sign-up would reduce over time. This surely makes it difficult to specify the value of each handout.

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