Worldcoin Isn’t UBI—It’s a Global Identity Play

Kim Reid
May 27
2 min read

What if I told you there’s a crypto project promising to give every human on Earth free money… but only if they scan their iris?

It sounds like a sci-fi plot or a Black Mirror episode. But it’s real—and it’s backed by one of the most powerful names in artificial intelligence: Sam Altman, CEO of OpenAI.

It’s called Worldcoin. And despite all the talk about “universal basic income,” what it’s actually building is far more foundational—and far more permanent.

This isn’t UBI. This is a global identity play.

What Is Worldcoin, Really?

Worldcoin has two parts:

World ID – a biometric system that verifies you’re a real, unique human by scanning your iris with a device called The Orb
Worldcoin Token (WLD) – a cryptocurrency distributed to users who participate in the system

The official pitch is that in a world saturated with bots and AI, we’ll need a way to prove we’re human—and a way to distribute wealth in a future where AI takes most of the jobs.

Sounds noble. But it’s what they’re actually building that raises the deeper questions.

This Isn’t Universal Basic Income

UBI is a policy idea. It’s systemic. It requires:

Government infrastructure
Consistent cash flow
Regulation, transparency, and public accountability

Worldcoin? It’s a private project issuing a volatile cryptocurrency in exchange for your most permanent biometric data.

No fixed monthly payment
No legal obligation to continue payouts
No accountability to the public

You’re not signing up for a salary. You’re signing up for a scan.

What They’re Really Collecting

They don’t want your money.

They want your face. Your iris. Your presence.

Why? Because in a future where AI bots will flood every system—from voting to customer service to economic participation—the most valuable asset will be proving you're real.

Worldcoin is creating a global registry of humans. A biometric whitelist for the post-AI era.

Whether that's visionary or dystopian depends on who controls it—and how it’s used.

The Risks We Can’t Ignore

Privacy: Your biometric data, even if “hashed,” is still a permanent marker. Unlike a password, you can’t change your iris.
Consent: Worldcoin is launching first in developing countries—offering “free money” in exchange for data, often to people with fewer digital rights.
Control: If this system becomes widely adopted, the entity that holds World ID… holds access to the digital economy.