OpenAI CEO Sam Altman and two co-founders launched the Worldcoin crypto project on Monday, with the goal of providing users with a verified digital identity and access to a financial network.

"The Worldcoin Foundation today announced that Worldcoin, a project co-founded by Sam Altman, Alex Blania, and Max Novendstern, is now live," read a statement on Worldcoin's website.    

Worldcoin gives users a private digital identity – a "World ID" – when they register in person, where an "Orb" imaging gadget scans their eye's unique iris pattern to confirm they are "a real and unique person," according to Worldcoin. 

According to the founders, verified private digital identities will be critical in distinguishing people from AI online.

The corporation also announced Monday the introduction of its Worldcoin token, a cryptocurrency that is now translatable on the blockchain in specific regions, to millions "who participated in the beta," according to the announcement.

Read next: Cryptocurrency loses $200 billion in market value within 24 hours

On that note, Worldcoin aims to create the "world's largest identity and financial public network," according to its website. "If successful, we believe Worldcoin could drastically increase economic opportunity, scale a reliable solution for distinguishing humans from AI online while preserving privacy, enable global democratic processes, and eventually show a potential path to AI-funded (universal basic income)," Altman and Blania said in a letter posted to Twitter.    

The initiative took three years to build, and 2 million people signed up for a World ID during beta testing.

According to its website, Worldcoin is distributing 1,500 Orbs at locations around the world, allowing millions more to register. "Like any really ambitious project, maybe it works out and maybe it doesn't, but trying stuff like this is how progress happens," Altman tweeted. Blania, too, was cautiously optimistic.    

"This is the beginning of a long journey. Especially early on, things will not be perfect. But we hope that with fast iteration, Worldcoin can become an empowering technology layer for every human," he tweeted.