World's Largest Cryptocurrency Exchange to List Worldcoin

Binance, the world's largest digital currency exchange, said it will officially list Worldcoin, with trading expected to start at 4:00 p.m. today (Vietnam time).

OpenAI CEO Sam Altman launched a new digital currency project called Worldcoin on July 24.

Sàn giao dịch tiền kỹ thuật số lớn nhất thế giới sẽ niêm yết Worldcoin

To create a World ID account, applicants will have to verify their identity by scanning their retinal data through a device called the “Worldcoin Orb”. (Source: Cryptoslate)

Industry experts consider Worldcoin to be one of the most daring projects in the digital currency field. The project is implemented by Tools for Humanity, a company based in San Francisco (USA) and Berlin (Germany).

Specifically, to create a World ID account, registrants will have to verify their identity by scanning their retinal data through a device called the “Worldcoin Orb.”

After scanning the iris and verifying that the account owner is a real person, the user will be given a World ID account. The World ID project has had 2 million users since its testing phase.

After its official launch, World ID will expand its operations to 35 cities in 20 different countries.

Tools for Humanity co-founder Alex Blania said the cryptocurrency aspect of the World ID project is important, as “blockchain” can store user data in a way that protects privacy and cannot be controlled/or turned off by any single entity.

World ID project managers say World ID is a necessary link in the age of generative AI chatbots, like OpenAI’s ChatGPT. World ID allows people to distinguish between real people and AI bots on the internet.

Furthermore, the OpenAI CEO believes that Worldcoin could also help address how the economy will be reshaped by artificial intelligence.

Mr. Altman gave an example of how World ID and Worldcoin could be used. Specifically, he said the project could help create a universal basic income program, known as UBI.

This is a social welfare program usually run by governments where every individual is entitled to receive payment.

Because AI will increasingly do many of the jobs that humans currently do, Altman believes UBI could help combat income inequality. Since only real people can have a World ID, it could be used to reduce fraud when implementing UBI.

Although the creation and implementation of UBI is still “far in the future,” OpenAI’s CEO asserts that Worldcoin has laid the foundation for UBI to become a reality.

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