San Francisco and Berlin-based Tools for Humanity, the company behind the Worldcoin cryptocurrency project, unveiled its pioneering initiative on Monday, offering a unique digital passport called "World ID." The project, spearheaded by OpenAI CEO Sam Altman, aims to provide a secure and verifiable means to distinguish real humans from AI bots.
At the core of the Worldcoin project lies the World ID, which acts as a definitive proof of human identity. To obtain a World ID, individuals must participate in an in-person iris scan conducted through the utilization of Worldcoin's proprietary device known as the 'orb,' resembling a silver ball with a diameter similar to that of a bowling ball. The orb's advanced iris scanning technology ensures that only genuine humans can acquire a World ID.
During its beta phase, the project amassed an impressive user base of 2 million individuals. With the official launch taking place today, Worldcoin is rolling out "orbing" operations in 35 cities across 20 countries. As an incentive for early adopters in select countries, participants will receive Worldcoin's native cryptocurrency token, WLD.
Since trading commenced, WLD's value has surged significantly. Notably, on the world's largest exchange, Binance, the token soared to a peak of $5.29, having initially been introduced at a modest $0.15. Trading volume for WLD on Binance reached an impressive $25.1 million by 1000 GMT, according to data from the exchange.
A key aspect of Worldcoin's architecture lies in its blockchain technology, ensuring the secure and private storage of World IDs without centralized control from any single entity. Co-founder Alex Blania asserted that this preservation of privacy safeguards individuals and enhances the project's robustness.
Worldcoin asserts that the adoption of World IDs will be vital in the era of increasingly sophisticated generative AI chatbots, such as the popular ChatGPT, which generate human-like language. These digital passports are anticipated to serve as a reliable means of discerning between real individuals and AI bots in online interactions.
Speaking to Reuters, Sam Altman emphasized the potential societal impact of generative AI and highlighted the significance of Worldcoin's contribution. He expressed his support for universal basic income (UBI) as a potential solution to address the economic implications of AI-driven automation. With the assurance that World IDs can effectively distinguish real people from bots, Altman suggests the reduction of fraud in UBI distribution as a potential application of the World ID system.
While Altman acknowledged that a future with widespread UBI implementation remains uncertain, he believes that Worldcoin's initiative represents a vital step towards realizing such possibilities. By experimenting with innovative approaches, Altman envisions a future where economic systems can adapt to the transformative power of AI technology.
TL;DR
Worldcoin's launch marks a significant milestone in the cryptocurrency realm, offering a "digital passport" solution in the form of World IDs to differentiate between real human users and AI-generated entities. As the project expands its operations worldwide, the global crypto community will closely monitor its progress, and its impact on the landscape of digital identity verification and potential future applications, such as universal basic income. More information and news via the Energco website.