Worldcoin, a cryptocurrency project led by OpenAI CEO Sam Altman, has introduced World ID, a digital passport aimed at verifying human users and combating AI fraud. The core offering of Worldcoin, a San Francisco and Berlin-based company called Tools for Humanity, World ID functions as a proof of identity for individuals, ensuring they are real humans and not AI bots. To obtain a World ID, users must undergo an in-person iris scan using Worldcoin’s ‘orb,’ a silver ball roughly the size of a bowling ball. Once the iris scan confirms the person’s authenticity, a World ID is generated.
During its beta phase, the project amassed 2 million users, and with the official launch, they are expanding their operations to 35 cities across 20 countries. As an incentive, individuals who sign up in certain countries will receive Worldcoin’s cryptocurrency token, WLD. The price of WLD experienced a surge in early trading, reaching a peak of $5.29 on Binance, the world’s largest exchange. At 1000 GMT, it was trading at $2.49, up from its initial price of $0.15, with a trading volume of $25.1 million.
According to Alex Blania, the co-founder of Worldcoin, the blockchain technology used to store World IDs ensures privacy and prevents any centralized control or shutdown by a single entity. These World IDs will play a vital role in distinguishing between real people and AI bots, especially in the age of generative AI chatbots like ChatGPT, which have the ability to produce highly humanlike language.
Sam Altman affirmed that Worldcoin could also contribute to the shape of the economy in the era of generative AI. With AI increasingly taking on tasks currently performed by humans, Altman believes that universal basic income (UBI) can help address income inequality. UBI is a social benefits program, typically administered by governments, that provides payments to every individual. Altman acknowledges the challenges of implementing UBI and is uncertain about the entity responsible for distributing funds. However, he believes that Worldcoin lays the groundwork for such a future by reducing fraud through the use of World IDs.
While Altman recognizes that UBI might be a long way off, he believes that it is necessary to experiment and explore potential solutions. He stated, We think that we need to start experimenting with things so we can figure out what to do.
In conclusion, Worldcoin’s introduction of World ID, a digital passport designed to verify human users and combat AI fraud, marks a significant milestone for the cryptocurrency project. With its expanded operations and the growing popularity of its cryptocurrency token, WLD, Worldcoin aims to leverage World IDs to distinguish between real people and AI bots in an increasingly AI-driven world. Additionally, the project’s co-founder, Sam Altman, sees Worldcoin as a stepping stone towards addressing income inequality and shaping the future of the economy in the era of generative AI, potentially through the implementation of UBI.
