OpenAI’s CEO Sam Altman launches his own cryptocurrency ‘Worldcoin’

Tools for Humanity, based in Berlin and San Francisco, is the organization that created Worldcoin.

Sam Altman, the chief executive officer of OpenAI, introduced Worldcoin on Monday.

The World ID, which the firm characterizes as a “digital passport” to show that the person holding it is a real human and not an AI bot, is the project’s main product. A consumer registers to perform an in-person iris scan using the Worldcoin “orb,” a silver ball about the size of a bowling ball, in order to obtain a World ID. A World ID is generated once the orb’s iris scan confirms the user is a real human.

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Tools for Humanity, based in Berlin and San Francisco, is the organization that created Worldcoin.

Since the project’s beta phase, it has gained 2 million users. With the launch on Monday, Worldcoin is expanding its “orbing” activities to 35 locations in 20 nations. Those who register in particular nations will receive the WLD cryptocurrency token from Worldcoin as an incentive.

WLD’s price increased at Monday’s opening trading. According to the website of Binance, the largest exchange in the world, it peaked at $5.29 and at 1000 GMT was at $2.49 from a starting price of $0.15, having seen $25.1 million in trading volume.

According to co-founder Alex Blania, blockchains can store the World IDs in a way that protects privacy and cannot be manipulated or shut down by a single party.

According to the initiative, World IDs will become more important when generative AI chatbots like ChatGPT, which produce surprisingly human-like language, become more prevalent. Online, World IDs could be used to distinguish between actual individuals and AI bots.

Worldcoin can also assist in addressing how generative AI will alter the economy.

“People will be supercharged by AI, which will have massive economic implications,” Altman said.