MM News

A new cryptocurrency named Worldcoin has been introduced after the digital currency Bitcoin.

Worldcoin is a digital identification platform that aims to provide each person on earth with a convenient way to verify that they are a real human and not a bot or an AI algorithm.

The company building Worldcoin—Tools for Humanity—was cofounded by Altman, who is better known for creating ChatGPT, according to a report by a foreign news agency.

To get a World ID, a buyer signs up to perform an iris scan in person using WorldCoin’s ‘orb’, a silver ball about the size of a bowling ball.

Once the Orb’s iris scan confirms that the buyer is a real person, it creates a World ID for him. The WorldCoin project has 2 million users, and with its launch on Monday, WorldCoin has “orbing” operations in 35 cities in 20 countries, with those who sign up in some countries receiving WorldCoin’s crypto. The currency token will be WLD.

Project co-founder Alex Blania told Reuters that the cryptocurrency aspect of World IDs is important because cryptocurrency blockchains can keep World IDs highly confidential and not controlled or locked by a single entity.

The project director added that World IDs are essential in the era of creative AI chatbots like ChatGPT, World IDs can be used to differentiate between real people and AI bots.

OpenAI CEO Sam Altman told Reuters that WorldCoin could also help address how artificial intelligence (AI) will transform the economy with positive economic impacts.