BNR – Sam Altman, the chief executive of the renowned artificial intelligence (AI) company, OpenAI, launched a cryptocurrency called Worldcoin on Monday.
The new crypto offers a World ID, which is a serial account that only actual humans may obtain. Users may only register personally and be present at a certain location to obtain a World ID.
The obligatory attendance is due to a Worldcoin ball-like device that scans the participant’s iris to confirm they’re human. Afterwards, the participant gets an exclusive one-time World ID.
The firm behind the project is San Francisco and Berlin-based Tools for Humanity. Worldcoin has over two million subscribers in only its trial programme. Additionally, the launch resulted in the project’s raising signing-up procedures to include 35 locations in 20 states.
Furthermore, the company is promoting registration in specific countries by offering the WLD cryptocurrency coin as a gift.
Worldcoin Blockchain Technology Ensures Secure Storage
The crypto part of Worldcoin is particularly significant because the blockchain project needs a place to securely store World IDs. A blockchain system guarantees the preservation of private data, which is uncontrolled and cannot be terminated by a single entity.
Worldcoin assures that World IDs are crucial in this era of generative artificial intelligence chats like ChatGPT and Google’s Bard. AI programmes can create an entirely human-like language model. For that reason, World IDs exist, as they can distinguish between humans and AI robots.
Binance, the biggest cryptocurrency trading platform, stated that it will include Worldcoin on Monday at 9:00 GMT. Furthermore, Worldcoin can fix how economies are going to be changed by the new generative AI technology.
“People will be supercharged by AI, which will have massive economic implications,” Altman said.
Altman said that the concept of universal basic income (UBI) intrigues him. UBI is a social benefit programme that the government operates to give every citizen some sort of payment.
Altman said that Worldcoin could help prevent scams by using World IDs, as only real people are going to be using it. “We think that we need to start experimenting with things so we can figure out what to do,” he concluded.