Thursday, November 30, 2023

Launch of Sam Altman Worldcoin eyeball-scanning cryptocurrency

by MIsmaeel
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Sam Altman Worldcoin bold eyeball-scanning cryptocurrency firm, Worldcoin, has begun the global launch of its services in an effort to develop a dependable method of “distinguishing humans from AI online,” facilitating “Global democratic processes,” in addition to “dramatically increase economic opportunity.”


The business, which has received over $250 million overall and includes Andreessen Horowitz, Khosla Ventures, and Reid Hoffman among its backers, said that it is launching both the token and its identity system abroad. To obtain their World ID, users can visit an Orb. The startup’s helmet-shaped eyeball-scanning verification device, and download World App, the protocol-compatible wallet software.


Worldcoin is possibly one of the most brazen attempts to force the world to use their currency, as Techtimesto has previously reported. The business, which was created by Alex Blania and OpenAI CEO Altman, aims to put a cryptocurrency wallet (and part of their currency) on every person’s smartphone, but in order to do so, they need to develop a method of determining whether a person is a distinct human.

Worldcoin, which has been in development for more than three years, has been secretly onboarding users in numerous nations, including India, and rewarding them with 25 Worldcoin tokens. But the path thus far hasn’t been particularly easy. The enterprise has drawn criticism for its exploitation of developing nations. According to the firm, more than 2 million people verified their World IDs at an Orb between May 2021 and July 2023 in more than 30 different nations.


On its website, Worldcoin lists its three main potential uses: bolstering incentive methods like loyalty programs and coupons, which are typically vulnerable to fraud; fending off bots through identity verification; and supporting a globally democratic governance system.


About 20% of Worldcoin’s tokens, which are currently not launching in the United States, are in its possession. The startup said that it would limit the overall quantity of “WLD” tokens to 10 billion for the first 15 years. (More below on this.) The token. Which is based on ERC-20, has a 143 million maximum circulating supply as of its launch on Monday, according to a whitepaper by Worldcoin.

If it succeeds, Worldcoin, according to the statement, “could dramatically increase economic opportunity, scale a reliable solution for distinguishing humans for AI online while preserving private, enable global democratic processes”



Described as an “attempt at global scale alignment,” Worldcoin drew criticism from Twitter co-founder and seasoned Bitcoin expert Jack Dorsey, who thought it was “cute.”

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