“Worldcoin” aiming to distribute virtual currency to the whole world releases a wallet

easy to use simple wallet

OpenAI co-founder Sam Altman’s crypto asset (virtual currency) project “Worldcoin” announced the launch of the ecosystem’s first wallet “World App” on the 8th. The wallet will be offered in over 80 countries. According to the official blog, the World App is designed to be simple and familiar, limited to the main functions so that anyone can use it easily.

The World App is currently built on Polygon in beta, but will be on an Ethereum rollup in full version. Partnering with regulated cryptocurrency exchanges such as Moonpay and Ramp enables smooth deposits and withdrawals with multiple options, and also supports remittances using phone numbers and cryptocurrency addresses.

Current supported currencies are stablecoins USDC and DAI, Ethereum (ETH), Wrapped Bitcoin (WBTC) and Worldcoin (WLD). Uniswap is integrated into the wallet and token trading is also possible.

However, World App is designed to demonstrate its original function by acquiring a “World ID”, which is the core of the Worldcoin project. The method of obtaining a World ID will be described later, but by using a World ID, you will be able to access various applications and services.

First of all, it will be possible to authenticate accounts such as SNS without sharing personal data such as names and email addresses. In addition, by registering a World ID, the gas fee for remittance will be free, and in the target countries (excluding the United States), it will be possible to apply for Worldcoin subsidies every month. In addition, there is also a program to earn money by learning about Ethereum and Bitcoin.

“Human proof” in the age of AI

Worldcoin is a virtual currency project established in 2020 by Sam Altman, co-founder and CEO of ChatGPT developer OpenAI, and physicist Alex Branier. It has a grand ambition to distribute virtual currency to people all over the world, and has built a mechanism to identify individuals by scanning their eyes and receive virtual currency Worldcoin.

When the retina of the eye is scanned using a biometric device called “Orb”, which is a sphere the size of a volleyball, the orb converts the iris of the eye unique to each person into a digital code and records it. Identify individuals in a privacy-preserving manner with zero-knowledge proofs.

connection:“Distributing virtual currency to the whole world” Raising about 2.8 billion yen from Worldcoin, a16z, etc.

Worldcoin, whose mission is to “provide access to the global economy for all,” was initially criticized for violating privacy and being dystopian for biometric authentication using orbs. The founders explained that the scanned iris image would be permanently deleted after the code was generated, and that the code would only be used to confirm receipt of Worldcoin.

However, with the subsequent rapid progress of ChatGPT, the distinction between AI and humans began to be debated, and it seems that the Worldcoin method is also gaining acceptance as one of the “human proofs” in the AI ​​era. . The head of product for Tools for Humanity, which runs Worldcoin, said, “Everything that has happened to AI in the last six months has made people more aware of this project.”

Spread of World App

According to the official blog, since the release of the beta version for World ID holders, World App has already attracted 1.5 million people and is used by more than 500,000 people every month. It is said that more than 100,000 people around the world use it every day for about 60,000 transactions and 25,000 World ID checks.

Worldcoin has raised 3.4 billion yen and 13.5 billion yen worth from investors including Andreessen Horowitz (a16z) and Coinbase Ventures twice in October 2021 and March 2022, respectively. Worldcoin is valued at approximately ¥400 billion ($3 billion). Sources reported that Worldcoin plans to raise up to 15.8 billion yen in February this year.

connection:OpenAI Founder To Raise Funding With Cryptocurrency Project Worldcoin

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