OpenAI’s Sam Altman Launches Worldcoin Crypto Project – Worldcoin, initiated by Sam Altman, CEO of OpenAI, is a financial network that incorporates biometric verification. This project, which has been under development for three years, utilizes biometric methods like facial recognition and iris authentication to assign a distinct “World ID” to each user, differentiating humans from artificial intelligence (AI).
The user’s World ID is stored in an application called WorldApp, enabling them to engage in the exchange of Worldcoin tokens (WLD). Worldcoin has announced its intention to retain approximately 20% of all its tokens. Initially, the tokens will not be launched in the U.S., but the platform plans to release 10 million tokens for public use during the first 15 years.
The foundation of this platform is built upon open-source and decentralized principles, and Worldcoin will be distributed to foster the growth of its network, inheriting security features from Ethereum. Since its establishment in 2019, Worldcoin, headquartered in Berlin, has successfully raised $125 million, with prominent backers including Andreessen Horowitz, Khosla Ventures, and Reid Hoffman.
Worldcoin asserts that its digital token has the potential to simplify crowdfunding for significant events, such as India’s fight against COVID-19, and facilitate donations to countries like Ukraine, making cross-border payments more straightforward. According to Worldcoin, over 2 million individuals have been assigned a unique World ID to date. In the past 30 days, the network recorded over 60,000 digital wallet transactions, and in the last seven days alone, more than 48,000 accounts were created on the Worldcoin network.