Latest news from the crypto world: the Worldcoin project of Sam Altman, co-founder as well as CEO of OpenAI, has been officially launched after 18 months of beta testing.
In parallel with the Worldcoin protocol, the migration to OP Mainnet and public release of the World ID SDK, the introduction of a new version of WorldApp and the release of the WLD token token was also announced.
The project also plans to expand the supply of orbs to meet the growing demand for the World ID digital identity passport.
Full details of the news below.
Summary
Worldcoin crypto project officially launched by OpenAI CEO
It’s official: Sam Altman, CEO of OpenAi, has announced the official launch of the Worldcoin crypto project and all related products.
After experimenting with the protocol in beta for 18 months, reaching over 2 million registrations, now the Worldcoin Foundation has finally made the big move.
In detail, the promising project has completed the migration of the protocol onto the Optimism mainnet by releasing the World ID SDK kit, previously available only to an inner circle of developers.
In parallel, the World Asset Ltd foundation, released the Worldcoin token (WLD) directly on blockchain after minting 6 days ago, paving the way for user trading. WLD is currently priced at $2.20 (extreme volatility) and is easily traded on the centralized exchanges Bybit, Huobi, Bitget and Gate.io
The official token contracts are the following:
Ethereum: 0x163f8c2467924be0ae7b5347228cabf260318753,
Optimism : 0xdc6ff44d5d932cbd77b52e5612ba0529dc6226f1.
Along with all this, Tools for Humanity (TFH), a company based on the Worldcoin network, has released a new version of Word App, which is a wallet that allows individuals to get their share of WLD, made available in part to early adopters of the project. The app is available on the App store and Google store in more than 120 countries.
For those who are on the topic, it is worth mentioning that the WorldCoin protocol is formed of 3 components:
- World ID , a privacy-preserving digital identity designed to help solve important identity-based challenges, including demonstrating an individual’s unique persona;
- Worldcoin Token (WLD) ,a cryptographic token distributed to verified early users of Worldcoin who have “proven” they are human and not bots.
- World App, the first World ID-compatible app that enables global payments, purchases, and transfers using digital assets and fiat-backed stablecoin
The announcement of the official launch of the Worldcoin project was accompanied by a letter from Alex Blania and Sam Altman.
Crypto: OpenAi CEO adds 1.5K orbs to meet World ID demand
The launch of the Worldcoin crypto project by Sam Altman, co-founder
Worldcoin is followed by a desire to expand the availability of World Id access.
As demand for an infrastructure that can digitally verify one’s identity is growing, the Worldcoin Foundation has expressed its willingness to increase by 1.5k the number of Orbs, which is a biometric imaging device developed by Tools for Humanity with a view to proving personhood and enabling universal access to the global economy in the most inclusive way possible.
The development of artificial intelligence applications is making tremendous progress by increasing the demand for this kind of crypto product after the success sparked with OpenAI’s chatbot.
Now more than ever, users need “proof-of-personality” generated online by AI software that can eliminate the unwanted presence of bots and malicious users.
In the last six months of the beta testing phase, the Worldcoin protocol has verified the uniqueness and humanity of more than 40,000 individuals per week.
With plans to expand the number of orbs by 1,500, it will be possible to increase enrollment capacity on a worldwide basis by 5 times, allowing millions of people to join this digital revolution.
Biometric imaging orbs will soon be available in more than 35 cities worldwide, including New York, Miami, San Francisco, Mexico City, RIo de Janeiro, Nairobi, Hong Kong, Tokyo, Singapore, Barcelona, Berlin, Paris, and London.
Of note is the popularity of World ID in Spain, where more than 150 thousand users have already verified their identity.
Worldcoin’s mission
At a time in history when artificial intelligence software such as the one developed by OpenAi is blowing up on crypto (and non-crypto) communities, users expect the technologies to take a substantial step forward.
Proving people’s digital identity online is no longer a problem; rather, it is proving arduous to do so without undermining the principles of privacy and decentralization, which are the core values introduced with the advent of Bitcoin and other cryptocurrencies.
This is precisely where the Worldcoin project comes in, whose mission is to equitably distribute the potentially massive economic implications of AI by scaling back the approach with which humans access online while preserving their privacy.
In reality, the goals are far greater when one considers that Sam Altman and his staff intend to enable global democratic processes and provide a potential pathway for universal basic income (UBI) funded by artificial intelligence.
In this regard, the Worldcoin co-founder and CEO of Tools for Humanity announced that:
“Through its unique technology, Worldcoin aims to provide anyone in the world, regardless of background, geography or income, access to the growing digital and global economy in a decentralized and privacy-preserving manner. These protocol-level goals are closely aligned with ours for World App.”
There is still a long way to go: it is estimated that more than 4.4 billion people worldwide do not have a digitally verifiable legal identity.
As a result, participation in the global economy and access to critical services such as government aid, financial services and health care are drastically limited.
We will see if Worldcoin manages to become mainstream in the future by completely revolutionizing the way users intend to participate in life online.
We can only be optimistic given the excellent results achieved in the crypto field by OpenAI with its flagship product ChatGPT.
