Worldcoin's "World ID" Launch: A Digital Passport for Humanity Verification and Economic Reshaping

Worldcoin, a cryptocurrency venture founded by Sam Altman, CEO of OpenAI, was officially launched on Monday. The primary feature of this project is the "World ID," which serves as a "digital passport" to authenticate genuine human users, distinguishing them from AI bots. To obtain a World ID, individuals must undergo an in-person iris scan using Worldcoin's 'orb,' a silver ball resembling a bowling ball in size. Upon successful verification of the iris scan, a unique World ID is created for the user.

Tools for Humanity, a company with locations in San Francisco and Berlin, is the driving force behind the Worldcoin initiative. During its beta phase, the project managed to garner two million users, and with its recent launch, Worldcoin is expanding its 'orbing' operations to 35 cities across 20 countries. As an incentive, users from select countries who sign up will receive Worldcoin's cryptocurrency token, WLD.

WLD's value surged during early trading on Monday, with Binance, the world's largest exchange, showing a peak of $5.29 and a current price of $2.49 at 1000 GMT, starting from $0.15. The trading volume on Binance's platform reached $25.1 million.

According to co-founder Alex Blania, World IDs can be securely stored on blockchains, preserving privacy and preventing centralized control or shutdown by any single entity. The project emphasizes the importance of World IDs in the age of advanced AI chatbots like ChatGPT, capable of producing highly human-like language, making it essential to differentiate between genuine human users and AI bots online.

Sam Altman further highlighted the potential role of Worldcoin in addressing economic implications brought about by generative AI. He mentioned the possibility of universal basic income (UBI) as a solution to combat income inequality, with AI potentially taking over human tasks. World IDs could help reduce fraud in the implementation of UBI since only genuine individuals possess these digital passports. However, Altman acknowledged that a world with UBI is still distant, and the mechanisms for its implementation remain uncertain. Nevertheless, Worldcoin lays the groundwork for such experiments and advancements.

In summary, Worldcoin's "World ID" offers a unique and secure method of verifying humanity, setting the stage for economic transformations such as universal basic income. The project has garnered attention and support, positioning itself as a potential catalyst for future developments in the ever-evolving world of AI and cryptocurrency.