Tools for Humanity, a technology startup founded in 2019 by OpenAI CEO Sam Altman and Caltech researcher Alex Blania and backed by a16z, is developing a cryptocurrency project that uses iris biometrics.worldcoinAfter completing the initial beta testing phase, it was officially launched on July 7.
The Worldcoin operation includes WLD tokens and World ID digital identity, and the latter can only be obtained by registering through the Orb iris scanning device provided by the Worldcoin project.
During the previous beta testing phase, Tools for Humanity said it had already released 200 Orbs for people to register and had accumulated approximately 200 million users. It is expected to provide a total of 1500 Orbs by the end of this year and make them available in 20 cities in 35 countries and regions.
In addition, Tools for Humanity also plans to open the SDK development tools of the Worldcoin project service to the public, allowing more developers to integrate the World ID digital identity system into their own apps or services.
Tools for Humanity plans to distribute 15 billion WLD tokens over the next 100 years, and currently holds approximately 20% of the issued WLD tokens. Due to the current uncertainty surrounding US regulation of cryptocurrencies, the Worldcoin project will not be implemented in the US for the time being.
Currently, Tools for Humanity is offering Orb in pop-up locations across various cities. Between May and July, Orb appeared in Asian cities like Seoul, South Korea, and Tokyo, Japan. Other cities include London, England, Dubai, and New York and San Francisco, USA.
As for the idea of promoting the WLD token and World ID digital identity, Tools for Humanity hopes to allow users to maintain their real identity online and in the virtual world. Therefore, when applying for registration, users must verify their identity through an iris scan. This will also allow them to prove their identity in the future when artificial intelligence applications become prevalent. In addition, WLD tokens can also be used to conduct various transactions in the virtual world.
The Worldcoin project is now live. pic.twitter.com/xZXG4w56Ps
— Worldcoin (@worldcoin) July 24, 2023
