Worldcoin, the crypto start-up helmed by Sam Altman, has announced the international launch of its services. Worldcoin’s goal, as put by Altman himself, is to “drastically increase economic opportunity.” The start-up has attracted significant financial backing, and its new global rollout aims to redefine how people interact with cryptocurrency.
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A Vision Funded by Heavyweights
Having raised a whopping $250 million, Worldcoin has already attracted attention from a number of high-profile investors. Andreessen Horowitz, Khosla Ventures, and Reid Hoffman have all thrown their weight behind this ambitious project, signalling their confidence in its potential.
The international launch entails the rollout of Worldcoin’s unique identity technology, accompanied by its cryptocurrency token. Through their protocol-compatible wallet software, the World App, individuals can gain their World ID via an Orb – a helmet-shaped, eyeball-scanning verification device.
Sam Altman’s Bold Strategy
Worldcoin, co-founded by Sam Altman, CEO of OpenAI, and Alex Blania, has audacious plans to make the world accept their cryptocurrency. The aim? To place a crypto wallet (along with some Worldcoin tokens) onto every human’s smartphone.
To achieve this, the start-up has been working on a mechanism to ascertain if an individual is unique. By rolling out the Orb, Worldcoin hopes to establish a world-first: an identity-verified crypto ecosystem.
Worldcoin’s Global Footprint
While the path hasn’t been entirely smooth, the start-up has made significant strides. It has started onboarding individuals in numerous countries, including India, where each new sign-up receives 25 Worldcoin tokens. This process has, however, sparked some controversy, with critics arguing that the company exploits poor countries.
It’s worth noting that Worldcoin is retaining around 20% of all its tokens and has no immediate plans for a launch in the U.S. Despite these criticisms and hurdles, the company remains optimistic about its vision.
Potential to Scale Economic Opportunity
Worldcoin’s ambitious goal is underpinned by a belief that it could drastically boost economic opportunities on a global scale. According to the company, its technology could provide a reliable solution to identify humans for AI online, thus ensuring privacy.
Moreover, Worldcoin’s global platform could enable democratic processes on a never-seen-before scale, potentially paving the way for an AI-funded Universal Basic Income (UBI).
Twitter co-founder Jack Dorsey, no stranger to the crypto world himself, found Worldcoin’s efforts “cute.” However, Sam Altman’s Worldcoin project continues its international journey, reiterating that their vision is an “attempt at global scale alignment.”
As the Worldcoin story unfolds, the crypto industry watches with bated breath, anticipating the next move in Sam Altman’s ambitious plan. With its global rollout underway, the question now is whether Worldcoin can live up to its vision and truly revolutionize the economic landscape.
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