Worldcoin: Sam Altman's Crypto Startup Eyes Global Transformation

Worldcoin is designed to provide a complete financial platform, and revolutionize the way humans are distinguished from AI bots online.

Worldcoin: Sam Altman's Crypto Startup Eyes Global Transformation

Not content to revolutionize the AI world, OpenAI founder and ChatGPT-4 creator Sam Altman has officially launched Worldcoin: A crypto startup that uses the blockchain to offer a complete financial platform, including helping separate humans from AI online, and potentially opening the way to AI-funded UBI.

Worldcoin launch announcement

The project has attracted over $250 million in funding from prominent backers such as Andreessen Horowitz, Khosla Ventures, and Reid Hoffman, and has been rolling out its services around the globe with relatively little attention in recent months. Now, Worldcoin, which is designed to facilitate democracy and create new economic opportunities, is ready to come out of stealth.

A Reliable Solution For Identity Verification

The mission of Worldcoin is the development of cutting-edge identity technology. The company has been quietly working on the project for three years, with the plan of putting a crypto wallet and its WLD currency into the hands of every smartphone user worldwide.

However, to achieve this, the platform needs to establish a robust method of confirming the uniqueness of individuals—essentially, ensuring their launch is not "botted" like popular crypto projects have been.

Worldcoin's identity technology is now being rolled out internationally. Individuals can download the World App, the startup's protocol-compatible wallet software, and visit an Orb—a helmet-shaped eyeball-scanning verification device—to receive their World ID. This ID becomes the key to accessing Worldcoin's ecosystem and services.

Users visiting Orbs

Needless to say, this approach has proven controversial. While Worldcoin has made significant strides forwards in its aims, its journey has not been entirely smooth. The project has faced criticism for its practices in some economically disadvantaged regions, but despite this, over two million individuals from more than 30 countries have successfully verified their World IDs at an Orb.

Key Applications And The WLD Token

Worldcoin's website highlights several potential applications for its technology. These include improving incentives strategies, such as coupons and loyalty programs, to prevent fraud. The platform aims to combat the problem posed by bots through identity confirmation, ensuring a more secure online environment. Moreover, Worldcoin envisions fostering a globally democratic governance mechanism, empowering people to have a greater say in shaping their digital future.

Worldcoin's native crypto token is WLD. The startup currently holds about 20% of all tokens, with total supply capped at 10 billion tokens for the first 15 years. The company is, unsurprisingly, not yet launching in the US. According to the white paper, at launch, the maximum circulating supply will be 143 million WLD.

A New Era

The success of Worldcoin could have far-reaching implications for society. The startup aims to increase economic opportunities worldwide while providing a reliable solution for distinguishing humans from AI online without compromising privacy. By promoting global democratic processes, Worldcoin is striving to create a future where everyone has a voice.

Worldcoin's grand vision of "global scale alignment" has garnered attention, even drawing a playful jab from Twitter co-founder Jack Dorsey, a seasoned veteran in the cryptocurrency world. The audacity of the startup's mission, while met with both excitement and skepticism, showcases its commitment to transforming the digital landscape.

Worldcoin's bold quest to redefine the world of cryptocurrency is undeniably captivating. With a powerful vision, a team of talented individuals, and substantial financial backing, the startup is determined to bring about positive change on a global scale. As they continue to expand their services and overcome challenges, Worldcoin may pave the way for a future where cryptocurrency plays a pivotal role in empowering individuals and reshaping economic systems for the better—or it may be a dystopian nightmare.

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