Sam Altman, the creator of OpenAI, has started a brand-new venture called Worldcoin that takes a novel approach to token distribution by scanning people. The project’s goal is to give everybody a unique “World ID.” To accomplish this, a human eyeball is scanned using Worldcoin’s ground-breaking orb, a silver ball about the size of a bowling ball.
Sam Altman, the creator of OpenAI, has started a brand-new venture called Worldcoin that takes a novel approach to token distribution by scanning people. The project’s goal is to give everybody a unique “World ID.” To accomplish this, a human eyeball is scanned using Worldcoin’s ground-breaking orb, a silver ball about the size of a bowling ball.
Worldcoin acquired an amazing two million users during its testing phase. The project is expanding its ‘orbing’ activities to span 35 locations across 20 nations as of today, following its formal launch on Monday. Simply installing the company’s app will grant interested consumers access to the orb later on, allowing them to purchase tokens.
Additionally, in some nations, new sign-ups will also receive Worldcoin’s own cryptocurrency token called “WLD” as a prize. A key component of the World ID concept is the incorporation of cryptocurrencies, as they would provide a private and safe way to store World IDs that is uncontrollable and unaffected by any single entity.
The cost of WLD, the Worldcoin cryptocurrency token, rose significantly in early Monday activity. According to the website of Binance, it reached a high of $5.29 on the biggest exchange in the world and was trading at $2.49 at 1000 GMT after falling to a low of $0.15. The amazing trade volume totaled $25.1 million.
Sam Altman, the brainchild of Worldcoin and the founder of OpenAI, was quoted by Reuters as suggesting that a world with Universal Basic Income (UBI) would be “very far in the future” and that he was unsure of whose entity could be in charge of disbursing such monies. Altman, however, thought that Worldcoin provides an essential framework for investigating and realizing this notion of UBI. He emphasized the necessity of trying out novel concepts in order to open the door for paradigm-shifting adjustments.
Additionally, Altman is a supporter of Universal Basic Income, a social welfare policy that gives everyone regular payments. Altman asserted that UBI might be extremely important in lowering income inequality as a result of the advent of AI and automation taking over more tasks that previously required people to be present.
With the help of World IDs, which only allow confirmed users to use them, Worldcoin’s innovative concept offers the possibility to implement UBI while preventing fraud. The team thinks that World IDs will be crucial for distinguishing between actual people and AI bots in the era of generative AI, which generates language that is surprisingly human-like.