(Article by Leo Hohmann republished from LeoHohmann.Substack.com)
In a hat tip to Slay News, we learned the following today:
The CEO of Worldcoin has warned that a global digital ID system will be ushered in for citizens around the world whether they “like it or not.”
Worldcoin has developed a system that it pitches as “the world’s largest identity and financial public network.”
Essentially, the company has created a database that links digital cash, or Central Bank Digital Currencies (CBDCs), with a digital identity system.
The company has created its own form of digital money called the Worldcoin token (WLD).
Linked to WLD is another of Worldcoin’s products – World ID.
World ID is a digital identity system that collects biometric data for individuals and holds it in a database that links to WLD transactions.
WLD and World ID are connected and accessed via the company’s World App.
When it’s all in place and no longer “voluntary,” these technologies will be used to create and enforce 15-minute cities, says Christine Anderson, a member of the E.U. Parliament from Germany. Watch here as Anderson describes how it will work.
World App is “an app that enables payment, purchases, and transfers globally using digital assets and traditional currencies,” according to Worldcoin.
People who voluntarily surrender their biometric data receive “small sums” in Worldcoin’s tokens in return for signing up for the World ID scheme.
Worldcoin is co-founded by Sam Altman, the head of the company Open AI, which is behind the AI-powered chatbot ChapGPT.
According to Worldcoin’s executives, World ID, or “something like” it, will soon be mandatory for anyone who wishes to partake in the day-to-day functions of society.
World ID uses iris scanners that require a person to have their eyeballs scanned to prove their identity.
And while that idea may sound like a dystopian nightmare to some, people in several southern European countries, notably Spain and Portugal, can’t wait to give away their iris biometrics as proof of identity and the right to use a cryptocurrency transfer system.
The signup process involves exposing your eyeballs to what’s known as Worldcoin’s Orb iris scanners.
More than 150,000 participants have reportedly already signed up in Spain over the last year. That’s 20,000 new sign-ups per day. Portugal already has 120,000 signed up.
Plans are already in place to install a number of Orb scanners in Barcelona with more cities to follow.
Three years ago, in July 2020, the website Emerging Europe reported on the trend toward iris scans as the payment system of the future. Now the future is here and Worldcoin is not the only outfit playing in this space. A Polish firm called PayEye is also involved, among others.
Who owns Worldcoin, you ask? Its website says “Worldcoin is a decentralized open source protocol supported by a global community of developers, economists and technologists committed to expanding participation in, and access to, the global digital economy. It is intended to become a public network, with ownership by everyone.”
Read more at: LeoHohmann.Substack.com