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Sam Altman's Worldcoin: Orb Technology Pioneering the Future of Crypto and AI · Elon Musk Podcast

• 0:02
  Hi everybody. Welcome back to the show.
• 0:04
  Today we're going to get into a thing called World Coin.
• 0:08
  It's a cryptocurrency and there is some advanced technology
• 0:12
  going on and today we're going to spotlight that technology.
• 0:15
  It's a project cofounded by Sam Altman, the Chief Executive
• 0:18
  Officer of Open AI. Now, World Coin made a splash on
• 0:22
  its inaugural trading day, surging to impressive highs and
• 0:26
  indicating the anticipation around the blend of artificial
• 0:29
  intelligence and digital currencies.
• 0:32
  Worldcoin's central premise is quite unique.
• 0:35
  It employs a device called an ORB to scan individual's eyes,
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  creating a distinct digital identity known as World ID.
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  This project promises not only a new form of currency, but also a
• 0:48
  solution to a problem birth from our age of artificial
• 0:51
  intelligence distinguishing between humans and algorithms.
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  However, with its eyecatching ambitions, World Coin has also
• 1:00
  found itself at the center of controversy and critique.
• 1:03
  We will unpack the hype, the hope, and the hurdles that come
• 1:06
  with this cutting edge endeavor. Please stay with us as we take a
• 1:09
  quick commercial break, but don't go too far away.
• 1:11
  We'll be right back to continue diving deep the fascinating and
• 1:14
  controversial world of World Coin.
• 1:16
  Welcome back everybody. Today we're going to be talking
• 1:18
  about World Coin, a new cryptocurrency by CEO of Open A
• 1:23
  I Sam Altman. The token leaped to a high of
• 1:27
  $3.58 from its initial price of $1.70 before settling back to
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  $2.52 by 11:12 AM in London. According to data compiled by
• 1:37
  Queen Market Cap, by this time approximately $145,000,000 worth
• 1:43
  of the token had been traded, due in large part to its listing
• 1:47
  by notable exchanges like Finance.
• 1:50
  Altmid's innovative project officially launched on Monday.
• 1:53
  It employs a small device referred to as an ORB, that
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  scans people's eyeballs to generate a unique digital
• 1:59
  identity known as World ID. This identity grants its holder
• 2:03
  proof of personhood a core element in the World Coin
• 2:07
  framework. Now the tokens initial supply is
• 2:10
  kept at 10 billion as stated in the project's white paper, and
• 2:14
  the first rollout comprise 143,000,000 World coins with 100
• 2:18
  million loans to market makers and the remainder allocated to
• 2:22
  investors who verified with the ORB technology during the pre
• 2:26
  launch phase. However, due to regulatory
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  limitations, World Coin will not be available for trading in the
• 2:32
  United States. And despite these restrictions,
• 2:36
  Altman, heading the ambitious World Coin Project, pressed
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  ahead with the launch, aiming to solve a significant problem
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  posed by recent AI advances, the challenge of distinguishing
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  human made products from those created by algorithms.
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  There's a new spin on cryptocurrency with this thing,
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  and some would say it's Orwellian.
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  And at the center of the World Coin project lies the I Scanning
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  Orb. This device, which must be used
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  in person, gives users a unique digital identity, verifying
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  their personhood and distinguishing them from bots.
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  The project also includes A cryptocurrency, usable once a
• 3:13
  user has verified their identity, and an app that
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  permits payments, purchases, and transfers with a digital coin as
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  well as other digital assets. Now, following a successful beta
• 3:24
  period that attracted over 2,000,000 users, World Coin
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  announced on Monday that it would extend its eyeball
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  scanning operations to 35 cities across 20 countries.
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  I don't know about you, but I don't know if I'd be comfortable
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  having a private company with my I scans now.
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  Simultaneously, the World Coin cryptocurrency token issued to
• 3:45
  eligible beta participants is now tradable.
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  Several exchanges, including Finance, the world's leading
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  crypto exchange by trading volume, have listened to the
• 3:53
  token or announced plans to do. Alex Blonnie, a World Coin
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  cofounder, alongside Altman, a firm the verifying A person's
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  real identity is a no longer a topic of serious debate in the a
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  I era Blondie envisions. World Coin is a privacy first,
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  decentralized and maximally inclusive solution to this
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  challenge. Now, despite the project's
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  progress, though, key questions linger.
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  As reported by the Financial Times, the World Coin
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  cryptocurrency is not currently available in the US.
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  While it remains unclear when or if this will change, Altman
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  underscored that the US does not make or break a project like
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  this. However, he did not anticipate
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  the project becoming a World minus the US coin.
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  Since his informal launched, the World Coin Project had faced
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  intense criticism, particularly about the use of biometric data.
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  Detractors raised concerns about privacy risks involved with
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  collecting, storing and using such data, And the notion that
• 4:50
  the project incentivized early users with cryptocurrency
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  rewards has also provoked critique labeled by some of a
• 4:57
  flagrant bribe. Now, these controversies arise
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  amid a broader discussion of blockchain technology's
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  potential, traditionally used to obscure identities being
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  employed by World Coin to identify individuals in a
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  uniquely personal and precise manner.
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  Nonetheless, Altman remains undeterred, aiming to register 2
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  billion users with World Coin following its initial launch.
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  And the pace of growth remains uncertain given the requirement
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  for in person appointments. As per World Coins website,
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  they're actively recruiting orb operators and more locations and
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  manufactured 2000 plus orbs. Now Altman maintains the World
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  Coin feels especially important in the A I era.
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  We're distinguishing being human and machine work in in edit this
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  out, we're distinguishing between human and machine work
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  is increasingly challenging. He views the project as a step
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  forward, stating like any really ambitious project, maybe it
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  works out and maybe it doesn't, but trying stuff like this is
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  how progress happens. Altman also said in either case,
• 6:02
  we especially love our haters. It gives us energy.
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  Please keep it coming. That's it for today everybody.
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  Thank you so much for listening to the show.
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  I do appreciate your time and spending it here with me.
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  So please, if you could let me know what you think about the
• 6:18
  world coin. Would you let a private company
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  hold your biometric data for the chance to get some of this
• 6:24
  crypto? Take care of yourselves and each
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  other and I'll see you next time.