Worldcoin, founded by OpenAI CEO Sam Altman, debuts with its World ID system, aiming to prove user identity as real humans through in-person iris scans.
The project’s cryptocurrency token, WLD, gains traction with a soaring price on major exchanges. The initiative aims to address the economic impact of generative AI and potentially paves the way for universal basic income (UBI) implementation.
World ID: Proving Humanity in the Age of AI
OpenAI CEO Sam Altman’s Worldcoin, backed by the project’s core offering called World ID, hit the market with the purpose of verifying real humans and distinguishing them from AI bots.
The World ID serves as a “digital passport,” requiring users to undergo in-person iris scans using the ‘orb,’ a silver ball. Upon verification, the orb creates a unique World ID for the individual, safeguarded on blockchains to preserve privacy and resist centralized control.
Scaling Up with 2 Million Users
Worldcoin witnessed 2 million users during its beta phase and now expands operations to 35 cities across 20 countries with its “orbing” technology.
To incentivize sign-ups in certain regions, Worldcoin offers its cryptocurrency token, WLD. In early trading, WLD’s value surged, hitting a peak of $5.29 on Binance, compared to its starting price of $0.15, indicating substantial interest.
World IDs to Counter Generative AI’s Impact
As generative AI chatbots, like ChatGPT, produce increasingly human-like language, the need to differentiate real users from AI bots grows.
World IDs may provide a solution, enabling the identification of authentic individuals online. Altman believes Worldcoin’s technology can play a role in reshaping the economy by addressing challenges such as income inequality.
Worldcoin and Universal Basic Income (UBI)
Worldcoin’s World IDs could potentially contribute to the implementation of universal basic income (UBI), where every individual receives regular payments from the government.
With AI taking over various tasks, Altman sees UBI as a way to combat income inequality. By ensuring that only real individuals hold World IDs, the system can help prevent fraud in UBI distribution.
Paving the Way for the Future
Worldcoin’s World ID system introduces innovative ways to prove human identity in the face of advancing AI technologies.
Beyond its immediate applications, such as differentiating users from AI bots, the project envisions playing a significant role in shaping the economy, with the potential to lay the groundwork for universal basic income.
As the project scales up and explores new possibilities, it may provide valuable insights into future economic and social systems.