Worldcoin, co-founded by OpenAI CEO Sam Altman, has introduced a grants program earmarking $5 million in WLD tokens for developers. This initiative aligns with the project’s overarching strategy to decentralize its network.
Notably, Worldcoin’s innovative use of orb devices to scan irises for verifying real identities represents a distinctive approach within the digital identity space.
Worldcoin Foundation’s Decentralization Strategy
Steering this evolution is the non-profit Worldcoin Foundation, which recently delineated its decentralization strategy in a comprehensive whitepaper.
In addition, the foundation envisions establishing Worldcoin as pervasive and fundamental as the internet itself, emphasizing the importance of maintaining high standards of robustness and neutrality.
Details of the Grants Program
The foundation’s inaugural grant initiative involves allocating $5 million in WLD tokens to developers. Moreover, grants span a spectrum, supporting both small community-driven projects and ambitious, large-scale endeavors.
A notable aspect of the program is the opportunity for developers to participate in the production of orb devices, thereby furthering the project’s decentralization goals. Additionally, the foundation aims to refine distributed governance while striking a balance between system robustness and user privacy.
Context and CEO’s Clarification
This initiative arrives shortly after Sam Altman’s brief departure and subsequent return as CEO of OpenAI, a period marked by notable upheaval. However, Worldcoin’s CEO, Alex Blania, asserts that the timing of this grants announcement is coincidental, emphasizing their unwavering commitment to pioneering development within the cryptocurrency domain.
Lastly, Worldcoin’s move to introduce a substantial grants program underscores its dedication to fostering innovation and decentralization within the crypto space. It further aims to empower developers and drive the project’s growth while emphasizing user authenticity and privacy.
Read More:
BlackRock Receives $100,000 Seed Capital for Bitcoin ETF Proposal