Worldcoin Project Launches: Aiming to Democratize Economic Opportunity in the Age of AI
Rebeca Moen Jul 24, 2023 08:30
Worldcoin Foundation launches project to democratize economic opportunity in the AI era. The protocol includes World ID, Worldcoin token (WLD), and World App.
The Worldcoin Foundation, co-founded by Sam Altman, Alex Blania, and Max Novendstern, announced the completion of the Worldcoin project's protocol migration to the OP Mainnet on July 24, 2023.
Sam Altman, renowned as the CEO of OpenAI and creator of ChatGPT, is one of the key figures behind this initiative. The project aims to increase economic opportunity and enable global democratic processes in the Age of AI, and has also revealed plans to expand Orb sign-ups for World ID to over 35 cities across 20 countries globally.
The Worldcoin project has released the World ID SDK and minted the Worldcoin token (WLD), which is now transactable on the blockchain. The token was distributed to the millions of eligible people who participated in the beta testing phase.
In addition, Tools for Humanity (TFH), a tech company building on the Worldcoin network, has introduced a new release of World App. This app is the first protocol-compatible wallet that currently allows individuals to reserve their share of the WLD digital currency, where laws permit.
Worldcoin project co-founder and TFH CEO, Alex Blania, emphasized the importance of proof of personhood in the age of AI. He stated, "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."
The Worldcoin project was conceived to address the issue of 4.4 billion people worldwide lacking a legal, digitally-verifiable identity. This lack of identity limits their participation in the global economy and access to critical services like government aid, financial services, and healthcare.
The Worldcoin protocol includes World ID, a privacy-preserving digital identity; the Worldcoin token (WLD), the first digital currency to be freely distributed to people just for being a unique human; and World App, the first World ID-compatible app that enables payment, purchases, and transfers globally using digital assets and fiat-backed stablecoins.
The Worldcoin Foundation aims to realize more inclusive, fair, and just institutions of governance and of the global digital economy. The Worldcoin protocol, World ID, WLD tokens, and the World App are now globally available where laws allow. Orb-verified World ID services are expected to roll out to more than 35 cities in the coming months.
However, potential users should be aware that crypto products can be highly risky and their regulatory treatment is unsettled in many jurisdictions. The technologies comprising Worldcoin, including the WLD token, are experimental in nature. There is no guarantee that the network will operate as planned.
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