Worldcoin, a groundbreaking cryptocurrency project founded by OpenAI CEO Sam Altman, has made its highly anticipated launch on Monday. At the heart of this project lies its unique offering, the “World ID,” an account that is exclusively available to real human beings. In order to obtain a World ID, individuals are required to undergo an in-person iris scan using Worldcoin’s innovative device known as the ‘orb,’ which resembles a silver ball similar in size to a bowling ball. Once the iris scan verifies the person’s authenticity, a World ID is created, granting access to the Worldcoin ecosystem.
The driving force behind Worldcoin is a company called Tools for Humanity, based in both San Francisco and Berlin. Throughout its beta period, the project garnered an impressive user base of 2 million individuals. With the official launch, Worldcoin is ambitiously scaling up its ‘orbing’ operations to encompass 35 cities across 20 countries. As an attractive incentive for early adopters, users who sign up in specific countries will be rewarded with Worldcoin’s native cryptocurrency token, WLD.
One of the key aspects of the World ID is its integration with the world of cryptocurrencies. The project leverages blockchain technology to securely store World IDs, ensuring privacy and safeguarding them from any single controlling entity, as emphasized by co-founder Alex Blania in an interview with Reuters.
The significance of World IDs becomes increasingly evident in the context of the rise of generative AI chatbots, such as OpenAI’s ChatGPT, which possess the ability to produce remarkably human-like language. These World IDs could play a crucial role in distinguishing real individuals from AI bots in online interactions, thus enhancing the overall trust and authenticity of online communication.
Binance, the world’s largest cryptocurrency exchange, has announced its intention to list Worldcoin, with trading expected to commence on Monday at 0900 GMT.
In a conversation with Reuters, Sam Altman shed light on how Worldcoin can potentially address the economic impact of generative AI. He believes that AI will revolutionize various industries, leading to significant economic implications. One concept that Altman is particularly intrigued by is Universal Basic Income (UBI), a social benefits program that ensures every individual receives regular payments. As AI increasingly takes on more human tasks, UBI could serve as a means to combat income inequality. The utilization of World IDs could help reduce fraud when implementing UBI since only real individuals are eligible for World IDs.
Altman acknowledged that the implementation of UBI might be a distant future prospect and that the entity responsible for administering such a system is yet to be determined. Nevertheless, he sees Worldcoin as a vital step in laying the groundwork for potential future realities.
“We think that we need to start experimenting with things so we can figure out what to do,” Altman stated.
In conclusion, Worldcoin, spearheaded by OpenAI CEO Sam Altman, is set to revolutionize the world of cryptocurrencies with its unique World ID system. By providing a secure and private means of verifying real human identities, Worldcoin aims to foster trust and authenticity in an increasingly AI-driven world. Moreover, its potential contributions to reshaping economic structures, such as the implementation of Universal Basic Income, make Worldcoin a promising and exciting project to watch in the cryptocurrency space.
