Worldcoin is a for-profit cryptocurrency project that uses iris biometrics developed by San Francisco and Berlin-based Tools for Humanity. In recent news, Worldcoin, a startup co-founded by OpenAI CEO Sam Altman, rebranded Worldcoin as World and introduced the latest version of its eyeball-scanning Orb at an event in San Francisco on 17 October 2024.
OpenAI CEO Sam Altman rebrands Worldcoin as World
Now, the cryptocurrency project will be called World, and it will use the new Orb to provide identification services, a task the company said will become increasingly important as artificial intelligence-enabled deep fakes become more adept at imitating people.
In this recent development, its main offering is its World ID, which the firm describes as a “digital passport” that proves its holder is a real human and different from online AI chatbots.
Once the Orb’s iris scan demonstrates the person is a real human, it creates a World ID. As an encouragement, people who sign up in certain countries get a cryptocurrency token called WLD.
What is World ID?
World ID lets you anonymously and securely verify that you are a real and unique human (and not a bot) for easy online verifications like signing into social apps and ensuring fair online activities like voting or buying concert tickets.
Moreover, the latest version of its eyeball-scanning Orb will use Nvidia Corp.’s Jetson chipset and that’s rolling out the ability for people to get the machine delivered to their house for real-time identification needs. Moreover, it features 5G connectivity and improved privacy and security features.
The company also introduces various new ways to make it easier to access the orb, such as purpose-built retail locations and a partnership with Latin American delivery service Rappi to bring orbs to people.
Overall, Worldcoin is designed to become the world’s largest privacy-preserving human identity and financial network, giving everyone ownership.
