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Worldcoin by Sam Altman: The Future of Crypto and Digital Identity

Worldcoin Sam Altman Eye Scanning Technology AI
By Nicolo Finazzi
Nicolo Finazzi

3 Min

July 25, 2023
  • Worldcoin by Sam Altman officially launches, offering unique digital identity through eyeball scans.
  • World ID grants "proof of personhood," addressing AI-generated content challenges.
  • The project operates on the Optimism blockchain, emphasizing decentralization and security.

Worldcoin, the ambitious crypto project co-founded by OpenAI's Sam Altman, has officially launched after a three-year development journey. The project's goal is to achieve global-scale alignment by creating a unique digital identity for users through eyeball scans using an "orb". This identity, known as World ID, provides "proof of personhood" and addresses the challenges posed by artificial intelligence in differentiating human and AI-generated content. The premise is that, in a world dominated by bots and artificial intelligence, it will become hard to tell who's real and who's a machine.

Worldcoin has undergone a rollercoaster journey since its founding, facing price volatility in the digital asset market and technological advancements in AI. The project, emphasizing the importance of digital verification, aims to counter the complexities of AI-generated content and to adapt to changing technological trends.

The recently launched WLD crypto token operates on the Optimism Mainnet, a layer-2 blockchain built on Ethereum. It experienced a fluctuation in price, reaching as high as $3.58 and settling at $2.52 as of the launch. The project plans to broaden its reach by offering eyeball-scanning signups in more countries, although it currently faces regulatory challenges, limiting the token's availability in the US due to unclear regulations.

How does it work?

Essentially, Worldcoin introduces a decentralized identity and financial network accessible to everyone. It offers a privacy-preserving digital identity called "World ID" and a digital currency "WLD" for being human. You just need to download the World App, visit the nearest Orb for verification, and obtain your World ID. You can then use it online to securely prove your identity amid the growing AI dominance.

With this mechanism, Worldcoin aims to foster economic opportunity and explore AI-funded Universal Basic Income (UBI) on a global scale. At the moment, everyone who has verified their identity may claim free WLD tokens in their World App. This is possible if they are located in a place where WLD token is available.

While Worldcoin encountered criticisms for certain practices during its sign-up process, it remains committed to decentralization and ensuring the privacy of its users. With over 2 million signups already, the project emphasizes its continuous evolution. It is also addressing security concerns, and expanding its use in Asia, particularly in Japan and South Korea.

Worldcoin's unique and unconventional approach makes it stand out among in the crypto space. As we are curious to see how this ambitious project will evolve, we'll keep a close eye on its progress and provide regular updates on the exciting developments ahead.

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