OpenAI’s Sam Altman launches New Cryptocurrency called Worldcoin

Worldcoin, the innovative cryptocurrency and digital ID project spearheaded by OpenAI chief Sam Altman, has been launched on Monday, July 24.

Founded in 2019, the project involves verifying the user’s identity by scanning their eyes and it aims to potentially solve one of the more persistent problems brought about by recent advances in artificial intelligence, that is, it has become harder and harder to tell whether something was made by an algorithm or a real human.

The Worldcoin token is a cryptocurrency that can be traced on the blockchain and requires users to initially prove their identity.

Now tradable, the Worldcoin crypto token has already been issued to qualified people who participated in the beta period. After successfully collecting over 2 million users during a beta stage, Worldcoin announced it will now be available in 35 cities across 20 countries.

At the heart of the Worldcoin project is an eye-scanning physical “orb”, which means a user must be physically present to have their eyes scanned and they will be given a unique digital identity to confirm that they are a real human and not a bot.

Aside from being a cryptocurrency, Worldcoin also has an app that lets users make payments, buy and make transfers with it, along with other digital assets.

A number of exchanges have now listed the token or have expressed their intention to do so, including Binance, the world’s biggest crypto exchange by trading volume.

Alex Blania, the co-founder of Worldcoin, said:

“In the age of AI, the need for proof of personhood is no longer a topic of serious debate; instead, the critical question is whether or not the proof of personhood solutions we have can be privacy-first, decentralized and maximally inclusive. Through its unique technology, Worldcoin aims to provide anyone in the world, regardless of background, geography or income, access to the growing digital and global economy in a privacy preserving and decentralized way.”

Image: Worldcoin – Twitter