Worldcoin, which is a digital identity cryptocurrency project co-founded by OpenAI's Chief Executive Officer (CEO) Sam Altman, was officially unveiled on Monday.
Worldcoin’s main offering is a World ID or a “digital passport”, which it says proves to the other users that the holder of the particular ID a real human being and not an AI bot.
When a customer signs up to Worldcoin, for their application to be approved, they must conduct a scan of their iris using the firm's innovative "orb", which confirms that the person logging in is human.
Tools for Humanity (TFH), the company behind Worldcoin, managed to enlist two million users during its beta period and is targeting to upscale its operations to 35 cities in 20 countries.
The firm, which has bases in San Francisco, US and Berlin, Germany, is offering those who sign up in particular countries Worldcoin's cryptocurrency token, WLD.
“In the age of AI, the need for proof of personhood is no longer a topic of serious debate; instead, the critical question is whether or not the proof of personhood solutions we have can be privacy-first, decentralized and maximally inclusive,” said Worldcoin co-founder and TFH CEO Alex Blania in Berlin.
He added: “Through its unique technology, Worldcoin aims to provide anyone in the world, regardless of background, geography or income, access to the growing digital and global economy in a privacy preserving and decentralized way. These protocol-level aims align closely with ours for World App.”
About 4.4. billion people globally don’t have legal, digitally-verifiable identity hence limiting their participation in the global economy and access to critical services like government aid, healthcare and financial services.
According to Sam Altman, Alex Blania and Max Novendstern, Worldcoin seeks to equitably boost economic participation and access to essential services through privacy-preserving, decentralized and open source means focused around humanness.
Worldcoin Market Manager, East Africa Wangechi Mwangi expressed enthusiasm at the early adoption of the cryptocurrency technology ahead of its Monday official global launch.
“Through its unique technology, Worldcoin aims to provide anyone in the world, regardless of background, geography or income, access to the growing digital and global economy in a privacy preserving and decentralized way,” said Wangechi.
She added, “A connected mobile money infrastructure has been transformational to Kenya’s economic growth, giving an indication of the immense potential of a globally connected financial and identity network in the age of AI.”
She that the unveiling marked a significant step forward for the entire world along the path towards a more human internet and shared global economy.
World App is the first World ID-compatible app developed and run by TFH and enables payment, purchases and transfers globally using digital assets and fiat-backed stablecoins.
Orb-verified World ID services will be available for a limited time in Dubai, Hong Kong, London, Los Angeles, Mexico City, Miami, New York, Paris, San Francisco, São Paulo, Seoul, Singapore and Tokyo in the coming months before spreading to others in the coming months.
World App is available in the App Store and Google Play in more than 120 countries.