5 Things to Know About WORLDCOIN (WLD) by Sam Altman (OpenAI CEO)

Worldcoin by Sam Altman

Worldcoin is a type of digital money, known as a cryptocurrency. It was created by Sam Altman, the CEO of OpenAI (creators of ChatGPT), and Alex Blania, a former engineer at Google and Stripe. The main feature of Worldcoin is its “World ID,” which works like a digital passport to prove that someone is a real human, not a computer program.

Worldcoin (WLD) launched on July 24, 2023, and already has 2 million users from its testing phase. The project is expanding to 35 cities in 20 countries. On its first day of trading, Worldcoin’s token value peaked at $5.29, and it saw a lot of trading on a coin exchange Binance.

WLD is the ticker symbol / cryptocurrency ticker / cryptocurrency symbol for Sam Altman’s Worldcoin. There are other cryptocurrencies called Worldcoin so don’t get confused.

5 Things to Know About WLD (WorldCoin)

  1. WLD is the token of Worldcoin, a project that aims to create a global identity and financial network owned by all of humanity. It uses iris scans to verify that each user is a real and unique person, and gives them some WLD tokens as an incentive. WLD is also used for governance over the Worldcoin protocol.
  2. WLD is based on the Ethereum blockchain and follows the ERC-20 standard. Worldcoin has a circulating supply of 143 million tokens and a total supply of 10 billion tokens. As of July 25, 2023 – 1:30 pm EST, the price of Worldcoin is $2.22 and the market cap of WLD $317 million. It has a fully diluted valuation of $22 billion, which is higher than some of the major cryptocurrencies like ADA, SOL, and DOGE34.
  3. WLD is available on several major crypto exchanges, such as Binance, Bybit, Huobi, OKX, Gate.io and Kucoin. It has seen a high trading volume and price volatility since its launch, reaching a peak of $5.29 and then dropping to $2.22. Worldcoin (WLD) launched on July 24, 2023.
  4. WLD  is co-founded by Sam Altman, the CEO of OpenAI, the company behind ChatGPT. Altman believes that Worldcoin can help address how the economy will be reshaped by generative AI and enable experiments with universal basic income (UBI), a social benefits program where every individual is entitled to payments.
  5. Some people criticize the WLD project, calling it “dystopian” and exploitative, especially in poor countries where people might give away their personal eye data for money. Others worry about the privacy and safety of storing eye scans on a blockchain, as well as the long-term success of the orb devices.

More about Sam Altman’s Worldcoin

According to the founders, the Worldcoin token is a project that aims to create a global identity and financial network owned by all of humanity. World IDs are important because they can help distinguish between real people and computer-generated chatbots, like ChatGPT, that can write in a way that looks very human-like. These IDs might also be used to try out new ideas like “universal basic income,” a program that gives money to everyone.

To get a World ID, a person needs to go to a physical location where they’ll have their eye (iris) scanned using something called an ‘orb’. This orb looks like a silver ball, about the size of a bowling ball. Once the scan confirms that the person is a real human, they receive a World ID and are rewarded with some Worldcoin tokens (WLD) as a bonus.

Orb for Worldcoin

The orb is a biometric verification device that Worldcoin uses to create a World ID for each user. The World ID is a digital passport that proves that the user is a real and unique person, not an AI bot. The orb scans the user’s iris, which is a part of the eye that has a unique pattern for each individual. The scan produces a number that is tied to the user’s identity, and no record of the scan is kept to protect the user’s privacy.

The orb is a custom hardware device that was created by ToolsForHumanity, a company that specializes in biometric imaging. The orb is a silver ball approximately the size of a bowling ball, with a camera and a light inside. The orb uses infrared light to illuminate the user’s eye and capture an image of the iris. The image is then encrypted and converted into a code, while the original data is deleted. The code is stored on the Ethereum blockchain and used to verify the user’s identity.

The orb is also a distribution mechanism for Worldcoin’s token, WLD. Users who sign up for World ID by scanning their iris with the orb receive some WLD tokens as an incentive. The amount of tokens varies depending on the country and the market price of WLD. Worldcoin has shipped its orb devices to people in 12 countries, and plans to expand to 35 cities in 20 countries by the end of 2023. Worldcoin also allows people to become orb operators, who earn money for every person they sign up with an orb.

To find Worldcoin ORBS near you: Visit: https://worldcoin.org/find-orb



Rich Pinay