San Francisco, CA – On Monday, Worldcoin, the cryptocurrency project founded by OpenAI CEO Sam Altman, officially launched its much-anticipated core offering, the World ID.

Described as a “digital passport,” the World ID aims to distinguish real humans from AI bots and ensure the integrity of online interactions. The project, backed by San Francisco and Berlin-based Tools for Humanity, successfully amassed 2 million users during its beta period and is now expanding its operations to 35 cities in 20 countries.

World ID Verification via Cutting-Edge Orb Technology

To obtain a World ID, interested customers must undergo an in-person iris scan using Worldcoin’s revolutionary ‘orb,’ a silver ball roughly the size of a bowling ball. The orb’s advanced iris scan technology swiftly verifies an individual’s human status, generating a unique World ID upon successful authentication.

Furthermore, this identification system serves as a safeguard against the rising prevalence of generative AI chatbots like ChatGPT, which produce eerily human-like language. By employing World IDs, users can distinguish between genuine individuals and AI bots in online interactions.

Cryptocurrency Token WLD as an Incentive

To incentivize early adoption, Worldcoin offers its cryptocurrency token, WLD, to users who sign up in select countries. The introduction of WLD saw a significant surge in early trading, with Binance, the world’s largest exchange, reporting a peak price of $5.29.

In addition, starting at $0.15, the token’s price at 1000 GMT on Monday stood at $2.49, with an impressive trading volume of $25.1 million.

Preserving Privacy through Decentralized Blockchain Technology

Worldcoin launches World ID.

Co-founder Alex Blania emphasized that Worldcoin’s blockchain technology ensures the privacy and security of World IDs. Moreover, the decentralized nature of blockchain storage guarantees that no single entity can control or shut down the system, enhancing the overall reliability and trustworthiness of the project.

Worldcoin and the Future of the Economy

Altman sees Worldcoin’s World ID as more than just a digital passport. Additionally, with the rise of generative AI potentially reshaping the economy, he believes the World ID could play a vital role in implementing universal basic income (UBI) to combat income inequality.

Further, Altman acknowledged that a world with UBI is still distant and faces challenges in determining the entity responsible for distributing the funds. Nevertheless, he sees Worldcoin’s efforts as a critical step towards experimenting and laying the groundwork for a future with UBI.

Looking Ahead

As Worldcoin expands its ‘orbing’ operations globally, it aims to facilitate secure and authentic online interactions in the age of AI-driven technologies.

Lastly, with the adoption of World IDs, the cryptocurrency project seeks to pave the way for a future where the distinction between humans and AI bots remains clear, providing a potential solution to emerging challenges in the digital landscape.

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Tanishi is an established writer in the realm of cryptocurrency and blockchain, renowned for her expertise and insightful analysis. With a deep-rooted passion for the dynamic world of digital finance, Tanishi delivers compelling news and articles that captivate a wide-ranging audience.