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    OpenAI CEO Sam Altman announced the official launch of the biometrics project Worldcoin. The project also includes a cryptocurrency of the same name called Worldcoin Token (WLD), which was instantly listed on major exchanges Binance and Huobi on July 24th.

    world coin It promises to give free money to people around the world in exchange for iris scans. The company has built a device called Orb that it uses to scan your eyeballs to obtain a unique biometric identifier. The goal is to create a digital identity system that separates humans and AI.

    When the silver globe-shaped orb confirms that the person is a real person, it creates a world ID for that person. Worldcoin started his business three years ago and by 2023 he aimed to have biometric data of 1 billion people. So far, he has scanned the irises of only 2 million users worldwide.

    Also read: OpenAI Founders Still Want to Focus on ‘Worldcoin’ Currency

    Worldcoin spreads all over the world

    and blog post, Worldcoin founder Altman said the project will be rolled out in 35 cities in about 20 countries from Monday, July 24, describing Worldcoin as “a new identity and financial network owned by everyone.” Previously, the “Oving” operation he was available to users in 12 countries.

    Those who agree to have their iris scanned will receive payment in Worldcoin’s cryptocurrency token WLD. The payout does not apply to people in countries such as the United States where “the rules are not clear,” said OpenAI’s CEO.

    “We believe that Worldcoin can greatly increase economic opportunities and extend a trusted solution for distinguishing between humans and AI online while preserving privacy. [and] It enables a global democratic process,” Altman wrote.

    “The goal is simple: a global financial and identity network based on proof of identity, which I feel is especially important in the AI ​​era,” he says. Added on Twitter.

    of world coins world appa so-called protocol-compatible wallet will be made available for download, allowing users to book a time to authenticate with the application or

    On the other hand, Binance, the world’s largest cryptocurrency exchange, Huobi They said they will list the Worldcoin token from Monday. On Binance, WLD pairs for spot trading include WLD/BTC and WLD/USDT, but Huobi only announced WLD/USDT pairs.

    fighting inequality

    Worldcoin has emerged at a time when generative AI such as ChatGPT is turning the world upside down, making it difficult to distinguish between live humans and chatbots with artificial intelligence online. Altman hopes World ID will help make that distinction clearer.

    “People will be supercharged by AI, which will have a huge economic impact,” he says. Said Reuters.

    He also talked about the idea of ​​a Universal Basic Income (UBI), a government-funded program that would be offered to everyone in the form of standard, regular payments. He said UBI will be important in closing income inequality for those who have lost their jobs to AI.

    According to Reuters, Altman believes the world of UBI is still far away and does not know who will be responsible for distributing the funds. But Worldcoin is laying the groundwork for UBI to become a reality, he said.

    “I think we need to start experimenting to understand what to do,” he said.

    “Worldcoin is an attempt at global coordination, the path of which is difficult and the outcome uncertain. But finding new ways to broadly share the coming technological prosperity is a key challenge of our time,” Altman wrote in a blog post.

    Worldcoin Raises Privacy Concerns

    Sam Altman carefully emphasized privacy issues in his announcement. I had to. Worldcoin has faced harsh criticism over its privacy practices in the past.

    Critics spoke of fraud risks and lack of protection for collected data. Analysts also said the threat to user privacy and decentralization is an affront to Bitcoin’s (BTC) founding principles.

    Software developer Brandon Church said, “It is alarming that private entities start offering financial incentives to collect personal data without any safeguards or enforced restrictions that can be put in place with the data.” Said Before.

    “No one collects data just to hide it, and it has been proven time and time again that private companies are quick and free to work with user data.

    Church theorized that Worldcoin would not be able to store biometric data in its database, voluntarily or not. He sees history repeating itself (remember past big tech failures to protect personal information, Facebook data breaches, etc.).

    Worldcoin denies storing people’s data. “I think Worldcoin protects more privacy than the centralized services we use today,” said Altman. tweeted In reply to Edward Snowden criticism In October 2021.

    “All Worldcoin or anyone can know is if someone has already registered for the service.”

    then world coin announced System upgrades to improve user privacy. The company has introduced what it calls the PoP (proof-of-personhood) protocol. This is a mechanism that enables anonymous actions using zero-knowledge proofs.

    Worldcoin has since raised $115 million in funding from notable investors including LinkedIn co-founder Reid Hoffman, crypto billionaire Sam Bankman-Fried, Andreessen Horowitz and Coinbase Ventures. The company is run by Tools for Humanity based in San Francisco and Berlin.

    Worldcoin (WLD) attracts significant investor interest

    WLD’s listing on Binance and Huobi has opened the token to millions of cryptocurrency traders. At the time of writing, WLD is trading at $2.5541, with a trading volume of about $290 million, a market cap of about $266 million, and a fully diluted market cap of about $26 billion (cryptocurrency price tracker data). coin market cap showed that.

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