The Worldcoin crypto project that requires iris scanning and facial authentication has finally been launched on Monday by OpenAI/ChatGPT chief Sam Altman, to secure the privacy of its users while making cross-border payments much simpler.
Worldcoin co-founders Alexa Blania and Sam Altman believe that the project could “create a network owned by everyone” while maintaining a privacy-preserving network for their users’ digital identity.
The project aims to share the Ethereum-based cryptocurrency tokens known as ‘Worldcoins’ or Worldcoin tokens (WLDs) with its users and allow them to send and exchange digital money anywhere.
Before having access to their crypto ecosystem and getting Worldcoin tokens, users were invited to download and sign up in their application called ‘World App,’ a digital wallet designed to bring global finance to all its users.
Intriguing as it sounds, an eye-scanning and face-authenticating biometric verification device known as ‘Orb,’ is responsible for verifying its users.
Take note that this verification must be done in person as it is vital for both the users and the financial network.
After being extensively scanned by the Orb, users will receive their own ‘World ID,’ a unique digital identification that enables its users to prove their existence as real human beings opposed to artificial intelligence (AI) operated bots.
Alex Blania asserted that it is timely and relevant to prove a person is real in the age of AI.
Sam Altman also said that the goal is to provide a global financial and identity network based on proof of personhood, especially in the era of AI.
“Worldcoin could drastically increase economic opportunity, scale a reliable solution for distinguishing humans from AI online while preserving privacy, enable global democratic processes, and eventually show a potential path to AI-funded UBI (universal basic income),” the co-founders Alex and Sam emphasized in a statement.
In recent reports, there were 60,000 digital wallet transactions recorded in the last 30 days, while approximately 48,000 accounts were created last week on the Worldcoin network.
Over 2,000,000 million users worldwide have been recorded to have their own World IDs.
Currently, the global distribution of Orbs was stated to be ‘ramping up’ and people can now book a schedule to be verified with the World App and Wordcoin.org.
Some exciting times ahead...