OpenAI CEO Sam Altman has launched the Worldcoin project, establishing himself as a key figure in the global technology business. The Worldcoin project is an AI-to-crypto network based on the novel concept of ‘proof of personhood,’ which aims to validate a person’s digital identity by scanning their eyes.
Tools for Humanity (TFH), a technology business created by Altman, Alex Blania, and Max Novendstern in 2019, owns the initiative. This statement comes at a time when the crypto industry is abuzz with the recent court victory of Ripple over the US Securities and Exchange Commission (SEC) and the introduction of the Blackrock Bitcoin ETF by Blackrock. It also depicts the aftermath of FTX’s demise.
Three Key Components
The Worldcoin project ecosystem is made up of three key components: World ID, Worldcoin token (WLD), and World App. World ID is a personalised biometric digital identification for people that is aimed to protect their privacy. The Worldcoin token acts as a crypto token or digital cash that is freely provided to users upon signup, demonstrating their individuality as actual human beings. This currency can then be used for transactions and payments using the World-ID compatible World App, which also functions as a digital wallet.
The Worldcoin protocol was moved to OP Mainnet, a robust and scalable L2 blockchain designed by Ethereum engineers, to accomplish this. The Worldcoin protocol, according to the company’s goal, will become the world’s largest and most inclusive identity and financial public utility, held collectively by everyone.
Alex Blania, co-founder of the Worldcoin project and CEO of TFH, emphasized the importance of privacy-first, decentralized, and maximally inclusive proof of personhood solutions in the age of AI. To create and verify identities, the project employs a spherical hardware device known as ‘Orb,’ which conducts eyeball scanning to establish a unique biometric identity and ensure that users are real humans and not bots.
The flagship device Orb and its services are set to be introduced in 35 cities across 20 countries, with immediate availability in cities such as Dubai, Hong Kong, London, Los Angeles, Mexico City, Miami, New York, Paris, San Francisco, São Paulo, Seoul, Singapore, Bengaluru and Tokyo.
Worldcoin aims to unlock and equitably distribute the vast economic potential of AI through its decentralized identity and financial network. Success could lead to increased economic opportunities, enable global democratic processes, and even lay the groundwork for AI-funded universal basic income (UBI). Industry experts have praised Altman’s project, noting the innovative use of eye scanning technology within smart contracts, comparing it to Ethereum’s ‘Soulbound tokens’ that are mapped to users but lack such eye-scan verification.
Sam Altman’s Worldcoin project introduces an intriguing AI to crypto network cantered around the concept of ‘proof of personhood.’ Its implementation of the World ID, Worldcoin token, and World App, along with the innovative use of the Orb device for identity verification, has garnered significant attention in the technology and crypto spheres.
