World's Digital ID & Crypto Project Makes a Splash in the U.S.
Iris-scanning tech and cryptocurrency incentives pioneered in six American cities by Worldcoin launch
The digital identity and cryptocurrency initiative, formerly tagged as Worldcoin and now renamed "World," has created a buzz with its iris-scanning devices. This innovative project, now operational in six major U.S. cities (Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco), aims to provide a robust method to distinguish humans from AI in the digital realm.
World's U.S. debut stems from its presence in around 20 countries worldwide. The project's core objective is to offer a reliable verification method as we navigate an increasingly digital world.
Newbies who complete an iris scan at a World Orb location receive 16 WLD tokens as a welcome gift. Early adopters enjoys a bigger "pioneer grant" of 150 WLD tokens.
Plans are underway to deploy 7,500 Orbs across the U.S. by the end of 2025, going hand-in-hand with building a new manufacturing facility in Richardson, Texas to bolster domestic production.
Strategic Partnerships
To expand its utility, World has collaborated with Visa to launch a debit card later this year, which converts WLD tokens to spendable currency at checkout points.
In the dating industry, World has teamed up with Match Group to test age verification systems on apps like Tinder. World ID will function as an account verification choice, making it potentially less bothersome for users to run into fake profiles and improving safety.
Gaming giant Razer has joined forces with World to incorporate World ID for identity verification and account security within Razer stores. The partnerships reflect World's intention to push its ID system across multiple industries.
The World App has undergone improvements. Users can now apply for crypto-backed loans through Morpho and partake in decentralized prediction markets powered by Kalshi, along with utilizing the integrated Visa debit card.
Recent Developments
The company showcased these advancements at a press event in San Francisco titled "At Last." Co-founder Sam Altman and CEO Alex Blania were present at the event.
The Orbs will now be accessible for scans at physical "World Space" locations in the launch cities as well as in Razer stores. World even unveiled plans for a smaller "orb mini" resembling a smartphone.
As of now, World's Orbs have scanned the identities of 12 million people across over 100 countries, positioning it as one of the largest crypto projects worldwide. Inevitably, it faces regulatory challenges, with ongoing scrutiny over its handling of sensitive biometric data.
With the backing of powerful venture capitalists such as Andreessen Horowitz and Khosla Ventures, LinkedIn co-founder Reid Hoffman, and FTX founder Sam Bankman-Fried, World is aiming to offset the costs generated by operating the network by collecting fees within the next 18 months.
Sam Altman, also CEO of OpenAI, regards World as a solution to problems spawned by advanced AI. As AI evolves to replicate human interaction more accurately, tools to confirm human identities gain increased importance. "World serves as a means to ensure humans remain vital and significant amidst an internet flooded with AI-driven content," says Altman.
- The cryptocurrency project, World, has collaborated with Visa to launch a debit card that convert WLD tokens to spendable currency, expanding its utility in the finance and business sector.
- In the technology industry, gaming giant Razer has partnered with World to incorporate World ID for identity verification and account security within Razer stores, demonstrating World's intention to push its ID system across multiple industries.
- The National Stock Exchange of India (NSE) might consider adding World's cryptocurrency, WLD, to its trading platform, following World's collaboration with Ethereum to list WLD on the Ethereum-based decentralized exchange, Uniswap, indicating potential growth for World in the global finance market.
