2023 – A month after its launch, the OpenAI president’s cryptocurrency is already a flop

admin

3 Luckily for him, Sam Altman clearly didn’t put all his eggs in one basket.If he is at the head of one of the most important artificial intelligence laboratories, and is very enthusiastic about the future of technology, Sam Altman was not shy either when it came to presenting the risks.In addition to calling for…

3 Luckily for him, Sam Altman clearly didn’t put all his eggs in one basket.If he is at the head of one of the most important artificial intelligence laboratories, and is very enthusiastic about the future of technology, Sam Altman was not shy either when it came to presenting the risks.In addition to calling for the regulation of AI, his company Tools for Humanity aims to address potential problems posed by its creation.And apparently, you need crypto for that.A titanic project to solve a problem that does not exist Many cities around the world have seen long queues of people in recent months wanting to come into contact with mysterious metal orbs.These scan the irises of people who show up, providing them with a sort of digital ID card that could be used to be identified beyond doubt online.And it is therefore the company Tools for Humanity, of which Sam Altman is one of the leaders, which is at the origin of the project.The goal behind it all? Make sure that the person you are talking to on the other side of the screen is the human you think you are, and not an AI-operated bot or an attempt to identity theft.

One of Sam Altman’s justifications for the need for such a project is that the advent of AI risks putting so many people out of work that the advent of a universal basic income seems inevitable.It will therefore be necessary to ensure that the people who receive the money are real.Altman therefore sells the problem and its solution.Moreover, it is not as if other identification techniques “impossible to falsify” had emerged in the past, before being… falsified.Moreover, last April, hackers have already recovered the passwords of administrators of the company allowing to register new users.Who could have predicted that a cryptocurrency could collapse? But Tools for Humanity does not just engage in the unregulated collection of biometric data.

The company wants to create the financial system of tomorrow and this passes, welcome in 2020, by a crypto-currency: the Worldcoin.This is not only a tool to prepare for the future envisaged by Sam Altman: in some countries, people who agreed to scan their irises left with tokens of this currency, for a value which reached 60 dollars at the peak.of its valuation.And because it is a cryptocurrency, its price has obviously crashed.

The blow to its valuation came from the Kenyan authorities, who simply suspended the company’s activities in their country, in addition to raiding the premises.The reason ? The collection of biometric data with little or no supervision and the security risks associated with the collection of the latter.If Kenya is the first to take concrete action against Tools for Humanity, the CNIL and the British regulator have also announced that they are investigating the project.Since the value of a coin is based on hype, these announcements inevitably had a terrible effect on the rate of Worldcoin, the price of which fell by 44% during the month of August.And the fall shows no signs of slowing down.Source : Gizmodo, Time, TechCrunch.

Leave a Reply

Next Post

Unlocking DeFi’s Potential: How Knowit Owlz Is Transforming Yield Farming

Unlocking DeFi’s Potential: How Knowit Owlz Is Transforming Yield Farming Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.In the rapidly evolving world of cryptocurrency, there's a new player intent on simplifying the complexities of the domain – Knowit Owlz .This exclusive investment group isn't just introducing novices…
Unlocking DeFi’s Potential: How Knowit Owlz Is Transforming Yield Farming

Subscribe US Now