Introduction to Worldcoin
Over the past few years, a revolutionary project has been unfolding, which may seem like an episode of Black Mirror. Millions of people worldwide have agreed to let metallic orbs scan their eyes in exchange for receiving a blockchain-based ID and a cryptocurrency called Worldcoin. This project, founded by Sam Altman, Alex Blania, and Max Novendstern in 2019, aims to make World ID the primary method for verifying humans online.
What is Worldcoin?
Worldcoin is a cryptocurrency that can be obtained by scanning your eyes using a metallic orb. This orb is a device that uses biometric data to verify individuals and provide them with a unique ID. In exchange for this scan, users receive 16 Worldcoin (WLD) units. Additionally, people who have downloaded and registered with the World app in the US will receive a "pioneer grant" of 150 WLD units.
Availability and Usage
Starting this week, Worldcoin will be available in most of the US for the first time, including via exchanges like Coinbase. More than 7,000 of World’s orbs will be available for iris scans at physical "World Space" locations in various cities, as well as in Razer stores. The startup has also updated the orb’s physical design and teased a smaller "orb mini" that resembles a smartphone. The primary way to use Worldcoin is through the World wallet app, which enables users to send WLD and other cryptocurrencies to each other via a private chat service tied to World IDs.
Partnerships and Integrations
Tools for Humanity, the startup behind Worldcoin, is working with Visa to release a debit card later this year that converts WLD to fiat currency at checkout. World ID will be added as an account verification option in Tinder, and the startup is also launching ID integrations with Stripe, Match Group, and Razer’s gaming platform. To get the startup’s Visa card, users will need to be verified with a World ID.
Purpose and Impact
The implicit goal of Worldcoin is to address the societal ramifications of OpenAI, Altman’s other company. As AI becomes more advanced, the idea is that a system like World ID will become necessary for distinguishing between what is generated and what is not. In Altman’s vision of the future, Worldcoin could also serve as a form of universal basic income for individuals whose jobs have been replaced by AI. Despite facing strong pushback from other governments due to its use of biometric data, Worldcoin has still managed to become one of the largest crypto projects in the world.
Conclusion
In conclusion, Worldcoin is a revolutionary project that aims to provide a blockchain-based ID and cryptocurrency to individuals who scan their eyes using a metallic orb. With its availability in the US, partnerships with major companies, and potential to address the societal ramifications of AI, Worldcoin is an exciting development in the world of cryptocurrency. As the project continues to grow and evolve, it will be interesting to see how it impacts the future of online verification and universal basic income.
