On Monday, a new cryptocurrency project called “Worldcoin” was launched, founded by Sam Altman, the CEO of OpenAI, an artificial intelligence research company.
The project features a unique offering called “World ID,” a digital identity account accessible only to real humans.
To obtain a “World ID” account, users need to register and undergo a personal iris scan using Worldcoin’s verification system called “Orb,” which uses a silver ball about the size of a bowling ball, once the iris scan confirms that the person is a real human, a “World ID” account is created.
The company behind Worldcoin is called “Tools for Humanity,” based in San Francisco, California, USA, with another office in Berlin, Germany, during the trial release, the project has already attracted two million users, and with its launch on Monday, Worldcoin aims to expand its Orb verification system to 35 cities in 20 countries, customers who register in specific countries will receive the WLD token, Worldcoin’s cryptocurrency.
According to Alex Blania, a co-founder of Worldcoin, the accounts tied to “World ID” are crucial because blockchain for cryptocurrencies can store accounts in a way that preserves privacy and cannot be controlled or shut down by any single entity.
The project’s administrators believe that “World ID” accounts will be essential in the age of AI-generated chatbots like ChatGPT, providing a means to differentiate between real people and AI bots online.
Binance, the world’s largest cryptocurrency exchange, has announced its intention to list Worldcoin for trading.
Sam Altman mentioned to Reuters that Worldcoin could also contribute to reshaping the economy through transformative AI, he highlighted the concept of Universal Basic Income (UBI), a social benefits program usually managed by governments that provides regular payments to individuals, as AI increasingly performs tasks that were previously done by humans, Altman believes that UBI, distributed only to real individuals with “World ID” accounts, could help address income inequality and reduce fraud when implementing such programs.
Altman envisions a highly advanced world with Universal Basic Income, although he admits uncertainty about the entity responsible for distributing the funds, nevertheless, Worldcoin’s project lays the groundwork for making this vision a reality.
