The global launch of Worldcoin, a cutting-edge cryptocurrency firm created by Sam Altman that employs eyeball scanning technology, has begun.
The company seeks to create a dependable method of separating people from artificial intelligence (AI) online, facilitating international democratic procedures, and greatly enhancing economic potential.
The startup stated that it is introducing its identity technology and token on a worldwide basis. The startup has raised about $250 million in funding and has notable investors like Andreessen Horowitz, Khosla Ventures, and Reid Hoffman.
You can now obtain your World ID by visiting an Orb, the startup’s one-of-a-kind helmet-shaped eyeball-scanning verification machines, and downloading the World App, which is protocol-compatible wallet software.
Worldcoin seeks to put a cryptocurrency wallet and some of its cash on every person’s smartphone, making it one of the riskiest attempts to encourage widespread adoption of a cryptocurrency. In order to accomplish this, the startup—co-founded by OpenAI CEO Altman and Alex Blania—must still come up with a way to authenticate a person’s distinct human identity.
According to Worldcoin’s website, its main applications include enh
ancing reward schemes like coupons and loyalty programs, which are frequently subject to fraud, fending off bots by confirming identification, and creating a globally democratic governing system.
20% of all of Worldcoin’s tokens that aren’t currently releasing in the US are being reserved. For the first 15 years, the firm has imposed a $10 billion limit on the total quantity of its “WLD” tokens.
The maximum circulating quantity of the ERC-20-based currency, as of the time of its debut on Monday, is $143 million, according to a whitepaper published by Worldcoin.
The company said in a statement:
If Worldcoin is a success, we believe it has the ability to significantly improve economic opportunity, scale a solid solution for differentiating humans from machines online while maintaining privacy, support international democratic processes, and eventually pave the way for AI-funded universal basic income.
