Worldcoin Token Now Transactable on the Blockchain as World ID Services Expand to 35 Cities Worldwide

IN BRIEF

• The Worldcoin Foundation’s subsidiary, World Assets Ltd., minted and released the Worldcoin token (WLD) to 2 million beta participants of World ID.
• The Worldcoin Token is now transactable on the blockchain.
• The Worldcoin Foundation has also unveiled plans to make Orb sign-ups for World ID available to more than 35 cities across 20 countries.

After completing the migration to the OP mainnet last week, Worldcoin today unveiled plans to make Orb sign-ups for World ID available to more than 35 cities across 20 countries. 

At the same time, The Worldcoin Foundation’s subsidiary, World Assets Ltd., has minted and released the Worldcoin token (WLD) – now transactable on the blockchain – to 2 million beta participants of World ID.

Tools for Humanity (TFH), the technology company behind the Worldcoin network, has also recently unveiled an updated version of World App. This protocol-compatible wallet enables individuals with a verified World ID to claim their share of the Worldcoin digital currency, where permissible under applicable laws.

The main goal of the Worldcoin protocol is to create a decentralized identity and financial network fairly distribute the economic benefits of AI. If the project succeeds, it could establish a reliable method for distinguishing between humans and AI online, all while safeguarding user privacy. 

Worldcoin told Metaverse Post: “Following launch, individuals in locations where the Worldcoin token (WLD) is available will be able to send and receive the token, and it may also become available for purchase through cryptocurrency exchange platforms. In terms of payment, the WLD can be used just like other assets/currencies where laws allow.”

The Worldcoin Foundation also claims that the protocol could empower global democratic processes and potentially pave the way for an AI-funded universal basic income (UBI) system. 

“Worldcoin is an attempt at global scale alignment, the journey will be challenging and the outcome is uncertain. But finding new ways to broadly share the coming technological prosperity is a critical challenge of our time,” Worldcoin co-founders Sam Altman and Alex Blania wrote in a launch letter shared with Metaverse Post.

“In the age of AI, the need for proof of personhood is no longer a topic of serious debate; instead, the critical question is whether or not the proof of personhood solutions we have can be privacy-first, decentralized and maximally inclusive,”

Blania said in a statement.

While Worldcoin’s mission is altruistic, the project has yet to clearly address privacy issues related to the Orb, TFH’s custom biometric imaging device built for the Worldcoin project to verify humanness and uniqueness, allowing users to have a World ID. 

Worldcoin claims that the Orb is secure and privacy-preserving, but the device stores hashed iris scans in a centralized database, meaning users could be subject to data gathering. There are also privacy risks as a retina print cannot be altered, and if compromised, that form of identity verification will be forever invalid for the user.

Despite that, Worldcoin is beginning a rollout of 1,500 Orbs throughout the summer and fall in more than 35 cities across 20 countries worldwide. This includes Dubai, Nairobi, 7. Mexico City, Miami, New York, Hong Kong, Singapore, Tokyo, Barcelona, Berlin, 4. Lisbon, London and more.

Worldcoin said it has verified the proof of humanity of more than 40,000 individuals per week. The availability of 1,500 new Orbs will increase the signup capacity of World ID by more than five times globally and more people to join the 2 million who have already signed up for the digital identity service.

Anyone with a World ID-compatible wallet, such as TFH’s World App, can sign up for World ID at an Orb by visiting a Worldcoin Operator location or community specialist to access an Orb. Information on the Orb’s locations will also be available via the World App.