Sam Altman’s Eyeball-Scanning Crypto Project Worldcoin Launches Global Digital Identity Platform -TGN

On Monday, June 24 World currencya cryptocurrency and digital ID project led by OpenAI chief Sam Altman, launched to create a “privacy preserving” global identity system after years of development.

The goal is to build a reliable solution to differentiate humans from AI online, to facilitate global democratic processes and to significantly increase economic opportunities.

To participate in the project, customers must use the “Orb”, a biometric authentication device, to scan their retina and receive a unique “World ID” in return. This scan proves their ‘humanity’, which becomes increasingly valuable in a world influenced by artificial intelligence.

“Worldcoin consists of a privacy-preserving digital identity (World ID) and, where permitted by law, a digital currency (WLD) that is received simply because it is human,” mention the co-founders. “We hope that where the rules are less clear, such as in the US, steps are taken so that more people can benefit from both.”

Founded in 2020, Worldcoin has received significant funding, totaling approximately $250 million, with prominent backers such as Andreessen Horowitz, Khosla Ventures, and Reid Hoffman.

The identity technology and the Worldcoin token are now being rolled out internationally.

Users can download the World app, the startup’s protocol-compatible wallet software, and visit an Orb to obtain their World ID.

Critics have expressed concern about the use of biometrics for identity verification, in particular the privacy risks associated with the collection and storage of such data. Some see the project’s incentives for early adopters as unusual bribery.

In addition, since blockchain technology typically focuses on maintaining anonymity, others question the premise of using Worldcoin to identify individuals in such a personal and precise way.

An Unknown World: Investigating Worldcoin’s Ambitious Project and Token Launch

Worldcoin, led by Sam Altman and Alex Blania, is making waves as the latest major project in the world of decentralized technology.

Buoyed by the success of OpenAI’s ChatGPT, the company has attracted attention and started a race to develop advanced AI technologies.

At the core of Worldcoin’s mission is the “Proof of Personality” system, designed to address employment concerns and online identity threats.

The software development kit (SDK), developed by Tools for Humanity, enables other apps to use individuals’ World IDs obtained through sphere authentication as secure credentials.

With the Worldcoin token being launched, the project is entering an exciting new phase.

With about 150 orbs currently operational and 2 million people signed up, the goal is to have 1,500 orbs active by the end of the year, expanding into new markets and attracting more signups through the token launch.

Blania envisions the token will create a “different world” with defined value and unforeseen changes.

Interestingly, the Worldcoin token is not listed directly on exchanges, but rather broadcast to users, gradually gaining value in fiat-driven markets.

The total token stock is limited to 10 billion “WLD” tokens for the first 15 years, with a maximum circulating supply of 143 million at launch. According to Coingecko, WLD debuted at a price of $1.70 per token and it is rose on crypto exchangesadding more than 20%.

As the Worldcoin project unfolds, it promises to venture into uncharted territory and reshape the landscape of decentralized technologies.

If successful, Worldcoin could provide significant economic opportunity, provide a reliable solution to differentiate humans from AI online while preserving privacy, enable global democratic processes, and potentially pave the way for AI-funded UBI, as stated in the project’s statement.