Worldcoin, one of the most controversial projects in the digital asset space, announced the launch of its WLD token. The company plans to distribute WLD to more than two million people around the world.
In addition to the multiple delays, Worldcoin has faced serious concerns regarding potential privacy risks as it involves a biometric verification device to receive a worldwide ID. Despite this, the team behind the project believes it could dramatically increase economic opportunity and scale a trusted solution to distinguish humans from AI online and preserve privacy if successful.
Worldcoin token goes live
A controversial start, subsequent reports of security flaws, as well as alleged deceptive marketing practices have dominated the mainstream discourse on Worldcoin.
The project, led by ChatGPT developer OpenAI CEO Sam Altman, has been registering users around the world with the help of its physical imaging device called the ‘Orb’. The project aims to give everyone on the planet some WLD tokens after registration while their accounts remain anonymous.
But the launch comes at a time when US regulators have stepped up a crackdown on token issuers in the country. While Worldcoin is expanding its operations to 35 cities in 20 countries, WLD tokens will not be available in the US.
The letter from co-founders Alex Blania and Sam Altman announcing the launch read:
“Worldcoin is an attempt at alignment on a global scale, the journey will be challenging and the outcome is uncertain. But finding new ways to widely share the next technological boom is a critical challenge of our time. We hope you will join us.”
Worldcoin raised $115 million in a Series C funding round led by Blockchain Capital in May of this year. The financing round also included the participation of a16z, Bain Capital and Distributed Global.
Worldcoin’s ultimate goal is to eventually show a potential pathway to AI-funded UBI, also known as “universal basic income,” which is a government-run social benefit program that gives every individual the right to receive regular payments. However, Altman believes that AI-powered UBI has the potential to address income inequality while also combating fraud.
JUST IN – OpenAI’s Sam Altman announces that his Worldcoin “financial and identity” network has launched.
You have to scan your eyeballs to get in. It is not a joke. pic.twitter.com/YMtIdNPueP
– Disclosure.tv (@disclosetv) July 24, 2023
Several community members scoffed at the unique process of scanning eyeballs to enter, others compared the cryptographic project to the “digital dictatorship”. The privacy argument has had little impact on crypto exchanges like Binance, which announced plans to list the WLD token on July 24. Other prominent platforms, including Huobi, KuCoin, and BitMart, too Following suit.
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This post OpenAI CEO Sam Altman’s Worldcoin Crypto Project Launches WLD Token
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