The Worldcoin project, co-founded by Sam Altman, Alex Blania, and Max Novendstern, has a primary goal of fostering economic opportunities and facilitating democratic processes on a global scale during the Age of AI.

Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, has launched its core offering called World ID. The World ID is described as a “digital passport” that proves the holder is a real human, not an AI bot. To obtain a World ID, customers must undergo an in-person iris scan using Worldcoin’s ‘orb,’ a silver ball approximately the size of a bowling ball. The project has already amassed 2 million users during its beta phase.

At launch today, the Worldcoin Foundation made several significant announcements regarding the Worldcoin project. Firstly, the firm successfully completed the protocol’s migration to the OP Mainnet. Additionally, it revealed plans to expand Orb sign-ups for World ID to over 35 cities across 20 countries worldwide. Alongside this, the Foundation released the World ID SDK. (Reuters)

“In the age of AI, the need for proof of personhood is no longer a topic of serious debate; instead, the critical question is whether or not the proof of personhood solutions we have can be privacy-first, decentralized and maximally inclusive,” said Worldcoin project co-founder and TFH CEO, Alex Blania, speaking from Berlin, Germany. “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 privacy preserving and decentralized way. These protocol-level aims align closely with ours for World App.”

Furthermore, World Assets Ltd., a subsidiary of the Foundation, has minted and made available the Worldcoin token (WLD) to those who participated in the beta phase, and WLD is now usable on the blockchain for transactions.

In parallel, Tools for Humanity (TFH), a technology company utilizing the Worldcoin network, introduced an updated version of the World App. This wallet is the first protocol-compatible platform allowing individuals to reserve their portion of the WLD digital currency, where local laws permit.

The project aims to use blockchain technology to store World IDs in a way that ensures privacy and cannot be controlled by a single entity. World IDs are seen as a potential solution to distinguish between real people and AI bots online, especially as generative AI chatbots become more advanced.

Sam Altman believes that AI will have significant economic implications and suggests that Worldcoin could help address income inequality by laying the groundwork for the concept of universal basic income (UBI). However, he acknowledges that a world with UBI is still far in the future, and experiments like Worldcoin are essential to explore potential solutions.

“The aim of the Worldcoin Foundation is both philosophical and political: to realize more inclusive, fair and just institutions of governance and of the global digital economy, including by helping achieve certain targets of U.N. Sustainable Development Goal 16 (namely, 16.4, 16.5, 16.6, 16.7 and 16.9). This aim is shared by those who contribute to or have regular contact with the Worldcoin projects,” said the Foundation’s Board of Directors.

Despite concerns about biometric data usage, individuals who have undergone the iris scanning process with the Worldcoin orb generally found it to be less intimidating than expected, with a smoother user experience. As the Worldcoin network launches, its token, WLD, has been listed on several crypto exchanges, experiencing an initial spike in value.

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