Updated 31.7.2023 11:16
Understanding the Worldcoin Phenomenon
Launched by Sam Altman, an AI entrepreneur and the former president of OpenAI, Worldcoin offers a unique blend of privacy-preserving digital identity (World ID) and a digital currency (WLD). The currency is designed to be received simply for being human, where laws allow.
The Technology Behind Worldcoin
At the heart of Worldcoin is an eye-scanning device known as the “orb.” This device verifies users’ identities, ensuring they are real humans and not bots. Once a user’s identity is verified, they can use the Worldcoin cryptocurrency and its accompanying app for transactions, purchases, and transfers.
The Investment Potential of Worldcoin
Worldcoin has already attracted over 2 million users during its beta period. The project plans to expand its eye-scanning operations to 35 cities across 20 countries. The Worldcoin token is now tradable and has been listed on several exchanges, including Binance, the world’s largest crypto exchange by trading volume.
The value of WLD experienced a significant surge during early trading hours on Monday. It reached a high of $5.29 on Binance, the largest global exchange. As of 1000 GMT, the price had adjusted to $2.49, up from its initial price of $0.15. Binance’s website reported that the trading volume for WLD during this period was $25.1 million.
@kanekallaway People are scanning their eyes in exchange for free money #ai #artificialintelligence #worldcoin #samaltman #openai #chatgpt #cryptocurrency ♬ original sound – Kallaway
The Future of Worldcoin Investment
While the Worldcoin cryptocurrency is not currently available in the U.S., the project’s founders remain optimistic about its global potential. Altman envisions Worldcoin as a critical tool in the AI era, where distinguishing humans from AI online becomes increasingly challenging. The project aims to onboard 2 billion users, a goal that, if achieved, could significantly impact the cryptocurrency market.
However, the project still does pose some very real risks—as do other proposed solutions. The upshot is that, if you have an active fear of living in a sci-fi dystopia, you probably shouldn’t sign up for this thing. What are your thoughts? Tweet us at @WealthyVc and we’ll share you right to our feed!