Worldcoin (WLD) is a new cryptocurrency with artificial intelligence and biometrics ties.
The highly anticipated cryptocurrency project Worldcoin (WLD) just launched on July 24, but the crypto project has already divided investors and regulators with its controversial goals.
Worldcoin was co-founded by Sam Altman, the CEO of ChatGPT maker OpenAI. The Worldcoin project and its cryptocurrency token WLD are intended to be a solution for some of the problems associated with artificial intelligence chatbots.
What Is Worldcoin (WLD)?
Worldcoin is a digital identification platform intended to provide a convenient way for a person to verify that online text, videos or any other types of content came from a real human being rather than generative AI software. Worldcoin was built by a company called Tools for Humanity, which was co-founded by ChatGPT creator Altman.
Worldcoin seeks to leverage the same cryptographic blockchain technology that keeps networks like Bitcoin (BTC) and Ethereum (ETH) secure and tamper-proof.
The Worldcoin project consists of the World ID digital passport, the World App crypto wallet and the WLD cryptocurrency token. Worldcoin uses an iris-scanning biometric imaging device called an Orb to scan users' iris patterns in their eyes and create a World ID identification code called an "IrisCode." Iris patterns are unique to each person, much like fingerprints. Worldcoin claims it deletes each iris image it uses, and the system does not rely on subsequent eyeball scans to verify identity.
The World App stores a user's credentials and can be used to verify identity on third-party apps. It also serves as a crypto wallet that can hold WLD tokens, as well as bitcoin and ethereum.
WLD tokens are the native cryptocurrency of Worldcoin. Roughly 2 million users who participated in the Worldcoin beta program each received 25 WLD tokens. There are currently more than 110 million WLD tokens in circulation, and the Worldcoin white paper suggests a total of 10 billion total tokens will be issued over a 15-year period, at which point the WLD supply will be capped.
Is Worldcoin Safe?
The cryptocurrency market in general has its fair share of skeptics. But Worldcoin's approach to biometrics, its unavailability in the U.S. and its lack of clarity about token distribution has made it a particularly controversial topic.
How to Buy Worldcoin?
Users who sign up in certain countries will receive WLD tokens as a reward. Unfortunately, U.S. citizens are not allowed to use, purchase or access WLD tokens at this time, according to the Worldcoin terms of service.
WLD token began trading on major crypto exchanges Binance, Bybit, Huobi, OKX, Gate.io and KuCoin on Monday, July 24. After starting at $1.70 and going as high as $3.58 on its first day of trading, WLD was last trading at around $2.15 as this story went to press.
Latest News