OpenAI’s Sam Altman Launches Worldcoin: Blockchain Technology and Universal Basic Income
OpenAI’s CEO, Sam Altman, recently launched a new cryptocurrency project, Worldcoin. This innovative project aims to revolutionize how we perceive and interact with digital currencies.
The Core Offering: World ID
Worldcoin’s core offering is the World ID, a digital passport designed to authenticate its holder as an actual human, not an AI bot. To obtain a World ID, customers must undergo an in-person iris scan using Worldcoin’s unique device, the ‘orb.’ This silver ball, approximately the size of a bowling ball, verifies the person’s identity and subsequently creates a World ID.
The Company Behind Worldcoin
The company spearheading Worldcoin is Tools for Humanity, a San Francisco and Berlin-based organization. Their mission aligns with the project’s goal of creating a more inclusive and secure digital economy.
User Base and Expansion
Worldcoin has already garnered 2 million users during its beta period. With the official launch, Worldcoin is expanding its operations to 35 cities across 20 countries. As an incentive, individuals who sign up in certain countries will receive Worldcoin’s cryptocurrency token, WLD.
Trading Performance of WLD
The WLD token has shown promising performance in early trading. On Binance, the world’s largest exchange, the token peaked at $5.29 and saw a trading volume of $25.1 million.
Role of Blockchain in World ID
Blockchain technology plays a crucial role in the World ID system. It stores the World IDs in a way that preserves privacy and cannot be controlled or shut down by any single entity. This ensures the security and independence of the Worldcoin ecosystem.
The Necessity of World IDs in the AI Era
In the age of generative AI chatbots like ChatGPT, World IDs will become increasingly necessary. They can be used to differentiate real people from AI bots online, ensuring a more secure and authentic digital interaction.
Economic Implications of AI
Altman states that AI will supercharge people, leading to massive economic implications. One such implication is the potential for Universal Basic Income (UBI), a social benefits program to which every individual is entitled to payments. As AI takes over more work that people currently do, UBI can help combat income inequality. World IDs, being exclusive to real people, can be used to reduce fraud when deploying UBI.
Future Prospects
Altman envisions a world with UBI as a distant future possibility. He believes that Worldcoin lays the groundwork for this reality. The need for experimentation is paramount to figuring out the best way forward in this new era of AI and cryptocurrency.
In conclusion, Worldcoin represents a bold step into the future of digital currencies. With its unique World ID system and the potential for reshaping economic structures, it stands as a testament to the innovative power of blockchain technology and AI.
FAQs
What is Worldcoin?
Worldcoin is a new cryptocurrency project launched by OpenAI’s CEO, Sam Altman. It aims to revolutionize the digital economy with its unique World ID system.
What is a World ID?
A World ID is a digital passport verifying its holder as an actual human, not an AI bot. It is obtained through an in-person iris scan using Worldcoin’s ‘orb.’
Who is behind Worldcoin?
Worldcoin is spearheaded by Tools for Humanity, a company based in San Francisco and Berlin.
What is the role of blockchain in Worldcoin?
Blockchain technology stores World IDs in a way that preserves privacy and cannot be controlled or shut down by any single entity.
What are the economic implications of Worldcoin and AI?
Worldcoin and AI have the potential to reshape the economy. One such implication is the potential for Universal Basic Income (UBI), a social benefits program to which every individual is entitled to payments. World IDs can be used to reduce fraud when deploying UBI.
Source: Reuters
