Worldcoin launches token to differentiate humans from robots

Worldcoin (WLD), a project created in part by OpenAI CEO Sam Alman, launched a token to be used in the project’s ecosystem on July 24.

The project continues to divide opinion from the crypto space to Silicon Valley, with some praising the project’s ambitions and others calling it “creepy” and “dystopian.” Despite these comments, the project continues to pursue its goal of addressing income inequality and online identity verification.

The project was the first launched back on March 14th, along with a waiting list for its software development kit (SDK). According to his team, World ID will act as a global digital passport that users will be able to store on their phones. The project also claims that World ID will also provide proof that they are not bots without having to provide identifying information to various websites, such as phone numbers.

May 8 project released its gas-free crypto wallet for verified people. This allowed users to take advantage of gas-free transfers by registering for World ID – where they would be asked to provide a phone number or an iris scan.

According to the developers, the project does not store user-provided data. It generates a zero-knowledge proof to verify that the user is a human being without revealing the data that was used to create that proof.

Prior to the launch of the crypto exchange, Binance announced that it would list the token on its platform.

Meanwhile, blockchain security company PeckShield detected that the fake Worldcoin token has already pulled the rug.

While many expressed support for the project, various members of the community also opposed the idea. Former Twitter CEO and Bitcoin backer Jack Dorsey he tweeted that “a corporation or state should never own any part of the global financial system.”

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The project also has has recorded over 2 million registrations to his World ID project back on July 14. During the token’s launch, Altman tweeted his hope to increase that number to 2 billion.

Sam Altman hopes to increase the number of users to 2 billion. Source: Twitter

May 25 project secured $115 million to support its decentralized identification system and its cryptocurrency wallet called World App. Taking advantage of the rise of artificial intelligence technology, his team proposed a “decentralized privacy-preserving solution” that would be able to provide humanity online and allow people to take control of their identity.

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