Wolrd Coin was launched by the OpenAI Chief Executive Sam Altman. It is a cryptocurrency initiative that gives users a crypto token called the WLD “just for being a unique individual.” The project intends to function as both a global universal basic income and an authentication mechanism to distinguish between people and machines by distributing crypto tokens in exchange for biometric data.
The project has garnered 2 million users during its beta phase. Worldcoin is expanding its “orbing” activities with the launch to 35 locations in 20 nations. Worldcoin will provide the WLD cryptocurrency token as an incentive to those who register in specified countries.
Worldcoin, as a digital currency, would operate differently than market leaders bitcoin or ethereum by providing users with a token of the future currency without asking them to deposit any cash. Altman and Alex Blania, the currency’s co-founders, want the money to function as a type of universal basic income, allowing for more fair access to the global economy.
People who join up for Worldcoin must have their irises scanned by an orb-shaped gadget to acquire a token – a method of assuring that anybody who signs up is human and only signs up once.The only data the orb holds, according to the Worldcoin website, is a “IrisHash,” a collection of integers produced to identify the user. The orb does not save any biometric information.
After receiving their unique IrisHash and crypto wallet, the user obtains a “World ID,” or digital passport. Worldcoin has conducted orb testing in Sudan, Chile, and Indonesia, and claims that its World App will be available in more than 80 countries.