Kworld Trend / Is worldcoin legit world coin launch date, July 24 (Reuters) – Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, launched on Monday.
Is worldcoin legit world currency launch date
The project’s primary offering is its Universal ID, which the company describes as a “digital passport” to prove the bearer is a real human and not an AI bot. To get the global ID, a customer signs up to have an iris scan in person with a silver ball about the size of a bowling ball. Once the orb’s iris scan verifies that a person is a real human, it creates a global identifier.
The company behind Worldcoin is Tools for Humanity, based in San Francisco and Berlin.
The project has 2 million users from the beta period, and with its launch on Monday, Worldcoin is expanding its “spin” operations to 35 cities in 20 countries. As an enticement, those who sign up in certain countries will receive WLD, the cryptocurrency token of Worldcoin.
The price of WLD rose in early trading on Monday. On the world’s largest exchange, Binance, it peaked at $5.29 and at 1000 GMT was at $2.49 from a starting price of $0.15, after seeing $25.1 million in trading volume, according to the Binance website.
Co-founder Alex Plania told Reuters that the blockchain can store global identifiers in a way that maintains privacy and cannot be controlled or locked by any single entity.
The project says global identifiers will be essential in an era of AI-powered chatbots like ChatGPT, which produce remarkably human-like language. World identifiers can be used to tell the difference between real people and online AI bots.
Altman told Reuters that Worldcoin can also help address how the economy is being reshaped through generative AI.
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The launch of the blockchain-based digital passport platform Worldcoin has polarized the cryptocurrency community, with people raising questions about its centrality, privacy, and security.
Worldcoin released its token, WLD, on July 24, with major exchanges such as Binance announcing support. The project consists of WorldID, a privacy-preserving digital identity, and a WLD, which users receive when creating a wallet.
To join the ecosystem, users must provide an iris scan through one of Worldcoin’s specialized Orb machines. The move provides a secured cryptographically secured “proof of character” used as a global identifier. Co-founders Alex Plania and Sam Altman wrote in a letter at the project’s launch.
“This allows you to prove that you are a real and unique person online while completely maintaining your privacy.”
The Global Digital Passport is set to be stored locally on users’ mobile devices. And used to prove their identity in a privacy-centric manner. Global Identifiers will use no-knowledge evidence to protect essential data, including biometric data, KYC data, and AML data.
Worldcoin will also enable users to ‘reserve’ their IDs to a phone number in select countries. Taking an iris scan to complete the process and obtain a global ID.
Moreover, Ethereum co-founder Vitalik Buterin was among a number of industry figures. Who commented on the launch of Worldcoin and the potential for biometric proof of identity.
In a lengthy blog post, broken down by Cointelegraph , Buterin delves. Into the technicalities of proof-of-character blockchain protocols. And the potential benefits and pitfalls for projects igniting a use-case trail.
However, Buterin highlighted the ability to prove human identification and use it for a future UBI. Distribution as the main reasons for the existence of identification protocols.
“Worldcoin is unique in that it relies on highly sophisticated biometrics, scanning each user’s iris with a piece of specialized hardware called an ‘orb.’”
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As Buterin explains, Worldcoin Orbs are set to be distributed worldwide to allow users. To create their own digital IDs. It also highlights privacy and security concerns about the orb. Design issues with its original code, and some ethical concerns about whether biometrics is “a good idea at all”.
“The risks include unavoidable privacy leaks, the further erosion of people’s ability to navigate the Internet anonymously, coercion by authoritarian governments, and the potential impossibility of being secure while being decentralized.”
