👉 Background: Sam Altman is the founder of Open AI and it's fair to say he has a fair bit of street cred at the moment... Yep, ChatGPT has sent the AI world into absolute meltdown with its possibilities.

👉 What happened: Now, Altman's back again with his new currency called WorldCoin. Altman's view is that the world will become dominated by bots and AI, so it will become hard to tell who's real and who's a machine. Yep, it's very Black Mirror.

👉 What else: His new company, Tools for Humanity, believe that the best solution is to use the unique image of your iris to prove your "humanness." Altman has created a new coin, called WorldCoin, and is paying humans in this new currency if they scan their irises in an orb-like device. He believes this new currency could become part of a futuristic universal basic income scheme.

What's the key learning?

💡Universal Basic Income is a social security measure where all citizens receive a regular sum of money from the government or public institution.

💡As AI becomes more sophisticated, there's concern it will replace many jobs currently performed by humans. So, UBI could serve as a safety net and provide people with a guaranteed income irrespective of their employment status.

💡On top of that, AI can help boost economic productivity by taking over repetitive tasks and doing them more efficiently. And theoretically, the wealth generated from this increased productivity could be redistributed to fund UBI.

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