OpenAI's Sam Altman Spearheads Worldcoin's Global Sign-Up Drive for WLD Tokens - Investor Bites

OpenAI’s Sam Altman Spearheads Worldcoin’s Global Sign-Up Drive for WLD Tokens – Investor Bites

Time Stamp: July 24, 2023 8:42 AM
OpenAI's Sam Altman Spearheads Worldcoin's Global Sign-Up Drive for WLD Tokens - Investor Bites PlatoBlockchain Data Intelligence. Vertical Search. Ai.

SNEAK PEEK

  • Worldcoin launches controversial WLD token with unique distribution method targeting two million individuals worldwide.
  • Privacy concerns arise as World ID biometric verification causes delays in token distribution.
  • OpenAI CEO Sam Altman personally involved in sign-up process using the “Orb” imaging gadget.

Worldcoin, the digital asset sector’s most contentious initiative, has officially announced the launch of its highly anticipated WLD token. With a target audience of over two million individuals worldwide, the project aims to distribute the token using a unique and controversial approach.

One of the major hurdles faced by Worldcoin has been obtaining a World ID, which requires biometric verification. This process has caused numerous delays and raised concerns about potential privacy hazards. However, the project’s backers remain confident that they can successfully differentiate humans from AI in the digital realm without compromising user privacy.

The initial launch of Worldcoin was met with controversy, and subsequent revelations of security breaches and alleged unscrupulous marketing practices have dominated discussions surrounding the cryptocurrency in mainstream media.

Surprisingly, OpenAI CEO and ChatGPT creator, Sam Altman, has been personally involved in the sign-up process. Using a physical imaging gadget called the “Orb,” Altman has been registering people from all corners of the globe. The sign-up process promises participants some WLD tokens, and their accounts will remain anonymous, aligning with the project’s stated goal.

However, the launch comes at a challenging time as U.S. officials are tightening their grip on token issuers. As a result, Worldcoin will be expanding to 35 locations across 20 countries, but Americans will not have access to purchase WLD tokens.

In a letter announcing the debut, co-founders Alex Blania and Sam Altman emphasized that Worldcoin’s mission is to achieve world-scale alignment, acknowledging that the journey won’t be easy, and the ultimate outcome remains uncertain. Nevertheless, the project’s core objective is to address the pressing issue of distributing the benefits of technological progress widely, and they welcome everyone to join them on this mission.

Earlier this year, Worldcoin successfully completed a Series C investment round with prominent investors, including Blockchain Capital as the lead, alongside a16z, Bain Capital, and Distributed Global.

Worldcoin’s long-term vision is to demonstrate the feasibility of an AI-funded Universal Basic Income (UBI), which is a government-run social benefits program that ensures everyone receives monthly payments, regardless of their ability to work or pay taxes. According to Altman, UBI driven by artificial intelligence could significantly reduce economic disparity and fraud.

As news of the novel eye-scanning authentication method spread, the community responded with a mix of jokes and concerns. Some viewed the crypto initiative as a potential “digital dictatorship.” Despite the privacy concerns, major cryptocurrency exchanges such as Binance, Huobi, KuCoin, and BitMart have confirmed their intention to list the WLD token on July 24th.

Worldcoin’s launch marks a pivotal moment in the crypto space, presenting ambitious goals and attracting both optimism and skepticism from observers worldwide. As the project continues to unfold, its impact on the digital asset sector and its potential to shape the future of social benefits programs through AI-powered UBI will be closely monitored by the global community.

Time Stamp:

More from Investor Bites