Worldcoin, a cryptocurrency project developed by OpenAI CEO Sam Altman, has been the talk of the town on social media. The talks surround the latest listing of its WLD token on various crypto exchanges.
What is Worldcoin?
Founded in 2019, Worldcoin operates as a startup building a physical eyeball-scanning device called the Orb. The iris scanning technology eases the identification process by matching individual identities with their digital footprints stored on the blockchain.
The team believes that the new technology will redefine the financial world in a world that is increasingly seeing the growth of artificial intelligence (AI). In an official post, its founders stated:
“Worldcoin could drastically increase economic opportunity, scale a reliable solution for distinguishing humans from AI online while preserving privacy, enable global democratic processes, and eventually show a potential path to AI-funded [univeral basic income].”
In May, Worldcoin secured $115 million in Series C funding through its research labs, Tools for Humanity. The funds were used to develop the Worldcoin ecosystem, including the dedicated crypto wallet World app. The firm also onboarded more employees to increase 150 headcounts.
Although the project has onboarded around two million users, its efforts to introduce an iris-scanning device to reveal people’s identity has been termed by critics as a pry on individuals’ privacy.
Worldcoin’s WLD Soars by 55%
Worldcoin launched its ERC-20 token WLD earlier today. Shortly after, the asset began trading on major cryptocurrency exchanges such as Binance, OKX, ByBit, and Huobi. The announcement from these firms resulted in a price surge from around $1.9 to $3.58. WLD currently trades at $2.59, as revealed by CoinMarketCap.
According to its whitepaper, 20% of the 10 billion Worldcoin cryptocurrency will be available to humans in several parts of the globe. At launch, the circulating supply of the WLD token sat at 143 million.
Meanwhile, Worldcoin will be unavailable to investors in the United States due to a lack of clear regulatory guidelines.
