Crypto project Worldcoin has expanded its ecosystem deeper into South America. In a recent announcement, the project revealed that it recorded over 200,000 Chilean residents who have verified their World ID, a digital passport used in the Worldcoin ecosystem.
With Chile’s total population estimated to be 19.5 million, the number of verified users represents over 1% of the country’s population.
What is Worldcoin?
Worldcoin is a project building at the intersection of cryptocurrency, blockchain, and artificial intelligence (AI). The startup is building a physical iris scanner, dubbed the Orb.
The iris-scanning device is designed to bolster match people with their digital identities stored on the blockchain.
The project was launched in 2019 by OpenAI CEO Sam Altman, Alex Blania, and Max Novendstern. Software company Tools for Humanity develops the Worldcoin ecosystem.
Worldcoin has a native cryptocurrency called the WLD token. Built on the Ethereum network, the token was launched in July 2023. Following its launch, it was listed on several cryptocurrency exchanges, leading to a massive engagement with investors as the asset soared by 55%.
At press time, WLD traded at $1.67, representing a nearly 10% increase over the last 24 hours.
Worldcoin Expands Ecosystem
The latest milestone seen in Chile is part of the project’s efforts to expand deeper into South America. Last month, Argentina, a South American country, widely embraced the Worldcoin project. It set a new record for the largest number of World ID demands.
Worldcoin co-founder Alex Blania commented on how countries in the continent are enthusiastic about the iris-scanning technology, saying:
“People are much more sensitive and much more understanding of the fundamental principles of crypto. It’s a combination of having a very technologically advanced country in general and then also a crypto-forward country specifically, which makes it an explosive building ground for the next wave of innovation in this space.”
Meanwhile, other countries are largely concerned with Worldcoin’s data collection process. The France government, for example, questioned the project’s processes and noted that further investigations would be conducted.
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