Bloomberg News reports that a cryptocurrency project called WorldCoin is being founded by chief executive officer of Open AI, Sam Altman. He will launch the project on Monday.
What will the project offer?
The core offering of the project is the World ID. This account will be available only to real humans. How will you get a World ID? If you want to get this ID, you must sign up to carry out an in-person scan of the iris using the “orb” of Worldcoin. It is a silver ball almost the size of a bowling ball. The orb iris ball will confirm that the person is real, thereby creating a World ID. Tools for Humanity is the company that is working on the Worldcoin project. It is based in Berlin and San Francisco.
Does the project have a good user base?
There are 2 million users from the beta period. With the launch on Monday, WorldCoin scales up “orbing” operations. This service will be available in 35 cities and 20 countries. People who sign up in specific countries are entitled to get WLD, the cryptocurrency token of Worldcoin.
How does the cryptocurrency aspect come into play?
Bloomberg News reports that the cryptocurrency aspect of World ID is crucial because the cryptocurrency blockchains will be able to store World IDs to preserve privacy. A single entity cannot control or shut down it, as revealed by co-founder Alex Blania.
The project envisages that the World IDs will be essential during the age of ChatGPT and generative artificial intelligence that can produce humanlike language. Most importantly, the WorldIDs will help differentiate between real humans and AI bots.
Altman also said that WorldCoin would be able to address the reshaping of the economy by using generative artificial intelligence. He stated that with the help of artificial intelligence, people will become supercharged and it will also have a huge implication on the economy.
Altman spoke about universal basic income or UBI. This is a social benefit program for every individual to enjoy payments. It will combat issues related to income inequality. Only real humans will possess world IDs.
