Worldcoin, a company that is developing a new digital identity system based on iris scans, said on Monday that it plans to allow companies and governments to use its technology.

The company, which was founded by OpenAI CEO Sam Altman, has been testing its technology in countries like India and Kenya. It plans to launch its system in more countries in the coming months.

Also Read: Kenyan Government Suspends Worldcoin Activities Over Data Privacy Concerns

Worldcoin’s system requires users to give their iris scans in exchange for a digital ID and, in some countries, free cryptocurrency. The company says that the digital ID can be used to verify a person’s identity for a variety of purposes, such as opening a bank account or voting.

In a statement, Worldcoin said that it plans to allow companies and governments to use its technology to “create a more inclusive and efficient digital economy.” The company said that it will charge a fee for the use of its technology, but it did not disclose how much the fee would be.

Companies could pay Worldcoin to use its digital identity system, for example, if a shop wants to give everyone one free product, then Worldcoin’s technology could be used to ensure that people do not claim more than one product without the shop needing to gather personal data, Macieira said.

“I don’t think we are going to be the ones generating universal basic income. If we can do the infrastructure that allows for governments or other entities to do so we would be very happy,” Macieira said.

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However, there are still concerns about the privacy implications of digital identity systems like Worldcoin.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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