From Necessity to Risk: Worldcoin’s Iris Scanning Program in Argentina

In the heart of Buenos Aires, at a bustling shopping center, Juan Sosa stands before an “orb” of Worldcoin to have his iris scanned in exchange for cryptocurrencies. With hundreds of thousands of Argentines already having done the same, driven by inflation and fiscal adjustments, Sosa, a 64-year-old martial arts teacher, does it because he has no money and can’t find a job due to his age.

As he receives a token transfer equivalent to about $80 in his digital wallet after scanning his iris, Sosa is just one of many participating in this process at 250 Worldcoin stands across Argentina. Lines have been seen at the stands in recent months as demand for financial incentives continues to grow. Worldcoin was founded in 2023 by Sam Altman and uses an iris-based identity verification system to provide cryptocurrency bonuses.

The company is closely monitored by regulators in several countries, but demand in Argentina is high due to the economic situation. By 2024, over 500,000 Argentines had scanned their iris, making up over 15% of participants worldwide. Worldcoin aims to create a financial and identification network using blockchain technology, allowing users to verify their identity online without sharing personal data.

While some users like Miriam Marrero do it out of necessity to help friends or make ends meet, others like Ulises Herrera have concerns about the security and privacy of their biometric data. The company claims to protect the data with advanced security features and is in constant dialogue with regulators. However, technology policy specialist Natalia Zuazo warns that biometric data like the iris is ultra-sensitive and users may not fully understand the implications.

Despite these concerns, many people like Federico Mastronardi see it as an opportunity to earn money by exchanging personal data for financial incentives. However, Zuazo criticizes Worldcoin’s approach as targeting countries in crisis and exploiting vulnerable populations. Ultimately, the decision to participate in the iris scanning program is a personal one