Worldcoin, a new cryptocurrency project founded by Sam Altman, the CEO of OpenAI, made its debut on Monday.
The project introduces a unique feature called the “World ID,” which acts as a digital passport to prove that the holder is a genuine human and not an AI bot.
To obtain a World ID, individuals must undergo an in-person iris scan using Worldcoin’s specialized device called the “orb.”
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It has gotten 2 million users
This silver ball, roughly the size of a bowling ball, conducts the iris scan to verify the user’s human identity, creating the World ID upon successful verification.
The driving force behind Worldcoin is the San Francisco and Berlin-based company called Tools for Humanity.
During its beta period, the project amassed an impressive 2 million users. With its official launch, Worldcoin aims to expand its “orbing” operations to 35 cities across 20 countries.
Worldcoin cryptocurrency is on Binance
To encourage users, Worldcoin is offering its cryptocurrency token called WLD to those who sign up in certain countries.
As a result, the price of WLD experienced a significant surge during early trading on Monday.
On Binance, the world’s largest exchange, the token reached a peak of $5.29, starting from $0.15, and recorded a trading volume of $25.1 million at 1000 GMT.
World IDs are stored on blockchains to ensure privacy and to avoid central control by any single entity and can be utilized to distinguish between real individuals and AI bots on the internet.
It will impact the economy
Co-founder Alex Blania emphasized the significance of World IDs in an age dominated by generative AI chatbots, like ChatGPT, which can produce language that closely resembles human speech.
Sam Altman believes that AI will greatly impact the economy, and to address potential challenges, he suggested ideas like Universal Basic Income (UBI).
UBI is a social benefits program in which every individual receives regular payments from the government.
As AI takes over more jobs currently done by humans, Altman sees UBI as a potential solution to combat income inequality.
World IDs will also reduce fraud
World IDs can play a crucial role in reducing fraud when implementing UBI since only verified human users can possess these IDs.
Although Altman acknowledged that a world with UBI is still far in the future, he sees Worldcoin as a stepping stone to making such a vision a reality.
The project’s launch marks the beginning of experimentation to determine the best path forward.
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Governor Sanwo-Olu meets with ChatGpt founders
In another story, Lagos state governor, Babajide Sanwo-Olu on the 19th of May, 2023 met with the CEO of OpenAI, Mr. Sam Altman, and other young tech entrepreneurs.
The meeting was held at the United States Consul General, Will Stevens’ residence.
There, the governor and the bodies discussed the progress and better ways to improve the stress-saving tech tool, ChatGPT
