Worldcoin, a groundbreaking crypto startup founded by Sam Altman and Alex Blania, has initiated the global rollout of its services.
The startup is aimed at distinguishing humans from AI online, promoting global democratic processes, and creating new economic opportunities.
YOU MAY ALSO LIKE: Twitter Is Now Out The Door, With “X” Taking Its Place
Backed by prominent investors like Andreessen Horowitz and Reid Hoffman, Worldcoin has raised a substantial $250 million.
The core of Worldcoin’s mission lies in incentivizing people worldwide to adopt their currency by placing a crypto wallet on every smartphone.
To achieve this, they have developed an identity verification technology, utilizing a unique Orb device shaped like a helmet, capable of scanning individuals’ eyeballs to generate their World ID.
The startup is now offering its identity technology and cryptocurrency token through the World App, the protocol-compatible wallet software.
Worldcoin’s audacious plan has faced its share of challenges over the three-year development period.
Critics have accused the project of exploitative practices, particularly in economically disadvantaged countries.
Despite this, over two million individuals across more than 30 countries have verified their World IDs at an Orb as of July 2023.
The potential applications of Worldcoin’s technology are diverse and ambitious.
They aim to strengthen incentive strategies such as coupons and loyalty programs, combat bots using identity verification, and facilitate global democratic governance mechanisms.
At present, Worldcoin is holding about 20% of its tokens and is not launching them in the United States.
The total supply of their “WLD” tokens is capped at 10 billion for the first 15 years.
During the launch, the maximum circulating supply of ERC-20-based tokens stands at 143 million.
The success of Worldcoin could have far-reaching implications, including increasing economic opportunities, providing a reliable way to distinguish humans from AI online while preserving privacy, enabling global democratic processes, and potentially offering a path to AI-funded Universal Basic Income (UBI).
YOU MAY ALSO LIKE: Spotify Raises Premium Subscription Fee By A Dollar
The startup’s vision of global-scale alignment has drawn attention, with Jack Dorsey, Twitter co-founder, describing it as “cute” in a subtle jab.
Nonetheless, Worldcoin’s bold endeavor seeks to revolutionize the crypto landscape and create new possibilities for individuals worldwide.
