Introducing Worldcoin by OpenAI’s Co-founder Sam Altman
Worldcoin, a cutting-edge financial network, has been launched by Sam Altman, co-founder of OpenAI. The project, three years in the making, introduces a revolutionary approach to user verification using biometric technology.
Biometric Verification for Unique World Identifiers
Worldcoin leverages advanced biometric verification methods, including facial recognition and iris authentication, to assign a unique “World ID” to each user. This distinct identifier sets humans apart from artificial intelligence (AI) bots, ensuring secure transactions and interactions within the network.
Worldcoin Token Exchange via WorldApp
The Worldcoin ecosystem includes the WorldApp, an application designed to store users’ World IDs and facilitate the exchange of Worldcoin tokens (WLD). This seamless process enhances user experience and promotes widespread adoption of digital assets.
Key Features and Token Distribution
- Worldcoin plans to reserve around 20% of its tokens, with an initial release of 10 million tokens over the first 15 years for public use.
- The platform embraces open-source and decentralized principles, with security measures inherited from Ethereum.
- Not currently available in the U.S., Worldcoin aims to expand its network globally to empower secure and efficient financial transactions.
Funding and Support
Since its inception in 2019, Berlin-based Worldcoin has secured $125 million in funding, with prominent backers including Andreessen Horowitz, Khosla Ventures, and Reid Hoffman.
Facilitating Crowdfunding and Cross-Border Payments
Worldcoin envisions simplifying crowdfunding for significant events, such as supporting India’s fight against COVID-19 and providing aid to Ukraine, through its digital token. This innovation could streamline cross-border payments and promote global financial inclusivity.
Network Growth and User Engagement
Over 2 million individuals have obtained a unique World ID within the Worldcoin network. Recent statistics reveal a surge in activity, with over 60,000 digital wallet transactions in the last 30 days and over 48,000 new accounts created in the past week.
