Worldcoin crypto project – Sam Altman, the CEO of OpenAI and the founder of Worldcoin, officially unveiled the unique cryptocurrency initiative on Monday. The World ID, a new notion labeled a “digital passport” designed to demonstrate the validity of its user as a true human, rather than an AI bot, is at the center of this pioneering endeavor. Individuals must undergo an in-person iris scan utilizing the ‘orb,’ a silver ball about the size of a bowling ball, to get a World ID. The orb performs an iris scan to validate the person’s human identification before establishing their unique World ID.
The organization Tools for Humanity, based in both San Francisco and Berlin, is the driving force behind Worldcoin. Following Monday’s launch, the project launched on an ambitious quest to expand its “orbing” operations to 35 cities across 20 nations, with a user base of 2 million from its beta phase. Early adopters in select countries will be rewarded with Worldcoin’s cryptocurrency token, WLD, as a wonderful incentive.
The price of WLD has risen dramatically since its debut. During early trading on Monday, the coin reached a high of $5.29 on Binance, the world’s largest exchange. The price had settled at $2.49 as of 1000 GMT, a substantial increase from its initial value of $0.15.
Worldcoin crypto project
The use of blockchain technology to hold World IDs while maintaining anonymity and avoiding central control by any single body is a major aspect of Worldcoin. During an interview with Reuters, co-founder Alex Blania emphasized the importance of this feature. He believes that World IDs will play an important role in the future of generative AI chatbots like ChatGPT, which can develop eerily human-like language. In the enormous expanse of the internet world, these unique IDs are ready to serve as an effective differentiator between genuine people and AI bots.
“AI will supercharge people, which will have massive economic implications.” “We believe we need to begin experimenting with things in order to figure out what to do,” he said.
While conceding that a world with UBI is likely a long way off and that the logistics of such a system are unknown, Altman sees Worldcoin as a critical first step toward making this vision a reality. Worldcoin contributes to the construction of a future in which the potential benefits of AI may be exploited to create a more fair and inclusive society by providing the framework for a safe and trustworthy identity verification system.