Launching Worldcoin, OpenAI’s Sam Altman’s ambitious cryptocurrency initiative brings us one step closer to realising the aim of speeding the worldwide adoption of decentralized financial solutions.
The San Francisco firm that made the announcement earlier on Monday said in a blog that the WorldCoin initiative has the potential to greatly improve economic possibilities, guarantee privacy, facilitate global democratic processes, and ultimately lead to AI-funded Universal Basic Income (UBI).
Worldcoin’s innovative technology seeks to provide everyone, regardless of where they live or how much money they have, private and decentralized access to the expanding digital and global market.
According to the Whitepaper, the “Proof of personhood” idea is important to WorldCoin and refers to proving that a user is a human being. This will be accomplished via the use of World ID, a privacy-focused digital id, and the local cryptocurrency, WLD, which may be obtained through a straightforward human identification verification process. via biometric authentication utilising The Orb, a device that scans users’ irises while maintaining total privacy, users will be able to get World ID and WLD, making Worldcoin available via The World App, the first protocol-compatible wallet.
According to the company’s blog, it will also be releasing the World ID and expanding its operations to 35+ cities in 20+ countries as part of the launch. Blania tweeted, “Orbs are now available in over ten major cities around the world, including Hong Kong, Tokyo, Nairobi, New York, and San Francisco,” in an effort to get more people to join up for the initiative as it grows.
The ambitious efforts of the team have been recognised by Altman, who emphasised the importance of these efforts in moving the project forward to its present state.
Altman also expressed optimism about WorldCoin’s path towards two billion users, which would represent a tremendous technical and social revolution, after around two million individuals signed up for the beta.
Nevertheless, WorldCoin is among the most daring initiatives in the cryptocurrency sector due to its extensive scope and possible influence on the future, even though the project’s viability is still up in the air. Even as the industry recovers from the devastating crypto winter that saw the demise of once-powerful blockchains like Terra and companies like FTX, questions about its potential social effect continue to spark conversations inside the crypto community and beyond.
Also Read: The Creator of Ethereum Discusses Binance’s New Worldcoin Listing
