KSG Podcast - RBI’s digital rupee | best daily editorial analysis for upsc aspirants
https://www.youtube.com/watch?v=6TO246T8KLw&t=22s
#UPSCOnlineClasses #OnlineClassses #IASOnlineclasses

KSG Podcast - RBI’s digital rupee | best daily editorial analysis for upsc aspirants
https://www.youtube.com/watch?v=6TO246T8KLw&list=PLCUwtp5IghZmJBi1h7xiAhsORKmmumVsR&index=65
#UPSCOnlineClasses #OnlineClassses #IASOnlineclasses

Today's Headlines - 04 August 2023
The crypto project WorldCoin
GS Paper - 3 (Economy)

A new cryptocurrency project called WorldCoin, from OpenAI CEO Sam Altman, has claimed over 2 million sign-ups across the world after its official launch on 24 July 2023. OpenAi was the company behind the AI chatbot ChatGPT.

What differentiates WorldCoin from many existing cryptocurrencies?

It is its use of biometrics. Its unique method of sign-up, involving scanning of irises, has rung alarm bells in countries such as France, Germany and Kenya.
India also has at least 17 sign-up locations – mostly at Delhi Metro stations in the NCR region and a few in Bengaluru. In comparison, the United States has 10 locations and Japan has three locations, according to the WorldCoin website.

What is WorldCoin?

The Worldcoin protocol is intended to be the world’s largest identity and financial public network, open to everyone regardless of their country, background or economic status.
WorldCoin wants to offer users an account that only “real humans” can get, through what it calls a “World ID”.
For this, a customer has to sign up and do in-person eyes scan at particular locations, where their irises would be scanned through a ball-like object called an ‘orb’.
Once the orb’s iris scan verifies the person is a real human, it creates a World ID for them.
The reasoning given here is that biometric data would help differentiate between humans and Artificial Intelligence systems and prevent duplication of IDs from the same person.
It can then be used as an ID in a variety of everyday applications – such as a cryptocurrency wallet – without revealing the user’s identity.
The project has three aspects: a World ID or a digital identity for “proving an individual’s unique personhood,” a Worldcoin token (WLD) that is its cryptocurrency, and a World App that enables “payment, purchases and transfers globally using digital assets and traditional currencies.”
It says that creating a World ID (through the orb scanning) is not essential for accessing the app or tokens. But it provides certain incentives for doing so.

Who owns WorldCoin?

San Francisco and Berlin-based company Tools for Humanity is behind WorldCoin. Altman is its Co-Founder and Alex Blania is its Co-Founder and CEO.
The company’s website simply states that it is a technology company that was built to ensure a “more just economic system”, and re-directs visitors to the WorldCoin website.
The Worldcoin can help address how the economy will be reshaped by generative AI technology.

#upsc #news #headline #crypto #project #worldcoin #economy #world #chatGPT #OpenAi #currencies #germany #kenya #delhimetro #US #japan #location #financial #worldID #human #intelligence #technology #visitors #humanity #berlin #francisco #CEO