Worldcoin (WLD) is a Cryptocurrency created by Sam Altman, CEO of OpenAI, the company that provides ChatGPT.
While Cryptocurrencies that claim to be ChatGPT but are in fact completely unrelated to OpenAI or other companies are prevalent, Worldcoin (WLD) was launched in full force.
Worldcoin (WLD) is not directly related to OpenAI or ChatGPT. However, its CEO was involved in its development and launch, and it is expected to be a product that can be used in a society where AI is developing.
What is Worldcoin (WLD)?
Worldcoin (WLD) is a Cryptocurrency being developed with the goal of establishing universal access to the global economy, regardless of country or user background.
The vision is to establish a place where all people on the planet can benefit in the age of AI.
The idea is based on Universal Basic Income (UBI) and suggests the possibility of creating a new economic activity and future by providing people with free and equal opportunities through the introduction of a global AI-funded basic income.
World Coin (WLD) consists of World ID, a privacy-preserving digital identity network built on identity proofing, and World Coin (WLD), a digital currency if the law in the region where it is offered allows it.
In an age of advancing AI, identification on the Internet is becoming increasingly difficult and is sometimes referred to as an unsolved problem. Voting online and transferring funds/value is becoming more difficult. As more powerful AIs and bots emerge, the difficulty of distinguishing them from humans increases.
World ID aims to make identification a biometric reality, using a biometric device called Orb to authenticate individuals online while maintaining their privacy.
Features of Worldcoin (WLD)
Sam Altman of OpenAI, the developer of ChatGPT, was involved in the launch of Worldcoin (WLD).
Worldcoin (WLD) itself is an open source protocol, but the Worldcoin Foundation will provide support until the community becomes autonomous.
The mainnet of Worldcoin (WLD) launched on July 23, 2023 and is now available on major international Cryptocurrency exchanges, such as Binance.
Sam Altman of OpenAI, the developer of ChatGPT, is involved.
It would not be an exaggeration to describe OpenAI’s ChatGPT as the IT industry’s single biggest trend in the first half of 2023.
Sam Altman is the CEO of OpenAI, which has dominated the trend, and WorldCoin (WLD), a Cryptocurrency project he helped launch, has also attracted attention.
Sam Altman is a co-founder of a company called Tools for Humanity, which helped launch WorldCoin (WLD). The company was founded in 2020 and as of August 21, 2023, he serves as an Operator Advisor at the Foundation and World App.
Authenticating Individuals with Human Eyes (Iris)
Personal authentication with World ID is performed using the iris pattern of a human eye.
To obtain World ID, you need to register your iris with Orb, and as of August 21, 2023.
Worldcoin (WLD) Price
The mainnet of Worldcoin (WLD) launched on July 23, 2023, and began to be handled by major international Cryptocurrency exchanges, such as Binance.
It did so immediately after its listing, but it grew quickly from mid-February 2024 and is currently trading at $6.71.
The Future of Worldcoin (WLD)
Worldcoin (WLD) has already conducted a demonstration test of Orb, a biometric authentication device, which is more promising than Cryptocurrency projects that never seem to have a product in sight.
As mentioned above, Orb can be experienced in Tokyo and other locations, so you can experience the future by using it.
Since there are still few AI or bot-resistant mechanical means of identity verification, Orb and World ID may be utilized by public institutions and other organizations to bring more attention to World Coin (WLD).
The Risk of Worldcoin (WLD)
One caution and risk with Worldcoin (WLD) is that iris recognition is a form of personal information collection and may be regulated by government agencies and others. Although privacy protection includes measures such as “images and iris patterns collected by Orb are permanently deleted when you sign up,” there is no possibility of leakage in the unlikely event of a leak.
The main risks are likely to be privacy protection, cracking, and legal restrictions.
In addition, depending on the laws of the region where the service is offered, WorldCoin (WLD) cannot be utilized, so it is possible to envision situations where the service is used for personal authentication, but the Cryptocurrency is not used as much as one might think.
However, there may be less risk of the business falling through if Worldcoin actually deploys the Orb device, a project that is expected to be used in the real world and not just a theory on paper.