By Michael Scott
Sam Altman has unveiled the Worldcoin token, a milestone portraying a massive leap in the project. The Worldcoin (WLD) launch comes days after the protocol migrates to the OP Mainnet.
The migration to the platform, previously identified as Optimism Layer-2 blockchain, will support the project’s World ID expansion and the deployment of Orb. The migration announced on Monday, July 24, signals Altman-led project is edging closer to releasing the native WLD token.
Tools for Humanity executive Tiago Sada considers the unveiling of the WLD token to present a huge deal for the platform. The product, engineering, and design head revealed that the project is within the beta phase and, though stuck in development longer, is edging closer to its launch. The move saw Altman laud the design as a beautiful piece in his Sunday, July 23 tweet.
Worldcoin Expanding to Over 100 Countries
The Worldcoin Protocol unveiling coincides with introduction of the Worldcoin Foundation and the World ID system. Also, the project head announced the expansion of the World App to over 80 territories, which would soon increase to 120.
The product head indicated the project has 2000 Orbs spread in a few cities. He confirmed that the project Worldcoin plans to introduce 1500 Orbs in the coming months. The design expert lauded the expanding geographic presence in Dubai, London, Tokyo, Mexico City, New York City, Seoul, Miami, and San Francisco.
Sada explained that Orbs involves uniquely-designed technology by the Tools for Humanity. He added that the tech is open-sourced to guarantee transparency and ease the development of subsequent Orbs compatible with the Worldcoin protocol.
Worldcoin’s Orb technology has attracted controversy since the idea came into the green light in October 2022. Whistleblower Edward Snowden criticized the retina scanners citing deception to reward them with crypto assets. He indicated that the human body should not be used as a ticket punch.
World ID SDK to Accelerate Global Orb Presence
Sada praised the accomplishment in the cycle to open the World ID software development kit (SDK). It would open up the SDK integration to all developers, thus guaranteeing accelerated expansion of its global Orb presence. The product executive indicated that it would facilitate the launch of the native token and expand Worlcoin’s presence.
Sada explained that the World ID SDK can support web creation and development of mobile applications by leveraging the Worldcoin protocol. The Tools for Humanity affirmed that the Worldcoin token awarded to the beta participants can be transacted on the blockchain.
Worldcoin began operations in 2019 following its establishment by Sam Altman alongside Max Novendstern and Alex Blania. Its establishment targeted to trigger increased economic participation without compromising decentralization and privacy.
The project in May received investors’ support to raise $215 million in a round led by a16z and Blockchain Capital. Further, its structure features the Worldcoin Foundation as the governance council for the Worldcoin ecosystem, among them World ID, Worldcoin Orbs, WLD, and World App.
Sada confirmed that the Worldcoin Foundation is tasked with the short-term objective of establishing governance mechanisms. Doing so is necessary to guarantee proper pricing in the long term. The Worldcoin Foundation is determined to reach nonprofit decisions that benefit the protocol.
Worldcoin Targets Banking the Unbanked Population
Sada revealed that World ID and World App projects have a shared mission of distinguishing humans from Artificial Intelligence. The design expert considers the capability to distinguish the two as essentials before unveiling a digital universal platform for basic income and averting scammers from compromising the system.
Sada clarified that World ID offers unique infrastructure supporting the digital passport. It involves a digital internet-native platform for global passports utilizing zero-knowledge (zk) proofs. It aims to verify that one is a person and not a robot.
The common mission of the cryptocurrency project is banking the unbanked population. The pursuit of this element has cooled recently following the series of sudden collapses of crypto exchange. Tools for Humanity indicated that Worldcoin is equipped to reignite the pursuit of this goal. As such, Worldcoin is positioned to offer financial services to over $4 billion individuals lacking banking services.
Sada considers the milestone realized by Worldcoin mirrors the Avengers Infinity War event. He considers the achievements as leveraging the input of various products and teams.
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