Sam Altman's Worldcoin (WLD) Token Launches, Pioneering Universal Basic Income: TLDR Available
TLDR version:
- Worldcoin is a cryptocurrency project that aims to create a global identity system based on iris scans.
- It was founded in 2019 by Sam Altman, the CEO of OpenAI, and is backed by Andreessen Horowitz.
- Users are given a unique digital identity after their iris is scanned by a device called an “Orb.” This identity can then be used to verify their identity online and to access Worldcoin’s cryptocurrency, WLD.
- The project uses a technique called zero-knowledge proof to verify that a user is human without revealing any personal information about them. This makes it difficult for AI bots to impersonate humans online.
- Worldcoin is making its presence known by offering a unique opportunity to receive free $WLD tokens through an airdrop. Simply volunteer your biometric data, and you’ll be rewarded with this digital currency.
The long-awaited moment has arrived as Sam Altman, the CEO of OpenAI Inc., unveils his highly anticipated cryptocurrency, the Worldcoin (WLD) token, which officially launched on Monday.
Worldcoin Token: Empowering a Global Universal Basic Income
The global cryptocurrency community is abuzz with excitement over the Worldcoin token’s launch, fueled by its ambitious vision to bring about a global universal basic income through crypto tokens, all in exchange for biometric data.
This revolutionary initiative aims to grant people access to cryptocurrency tokens simply for being themselves, leveraging iris scanning for identity verification.
Understanding Worldcoin (WLD) Token
Distinguishing itself from leading cryptocurrencies like Bitcoin and Ethereum, Worldcoin’s primary goal is to provide universal access to a token that represents the future of currency.
Co-founders Sam Altman and Alex Blania aspire to create a unique form of universal basic income, ensuring equitable access to the global economy.
The Components of Worldcoin:
- World ID: At the heart of Worldcoin lies a privacy-preserving digital identification system, resolving critical identity-related issues and establishing distinct personhood.
- Worldcoin Token: This pioneering token, the first of its kind to be globally distributed with unrestricted access, serves both functional purposes and holds potential for future governance applications.
- World Program: Facilitating seamless international payments, purchases, and transfers, the World Program is a fully self-custodial platform that operates using the Worldcoin token, digital assets, stablecoins, and traditional currencies.
The digital identification provided by World ID empowers the Worldcoin token to represent humanity in a virtual landscape dominated by advanced artificial intelligence.
Worldcoin’s Technical Foundation
Built on Ethereum’s base layer, Worldcoin utilizes a theoretical layer-2 network while addressing scalability concerns through the use of optimistic rollups.
The underlying coin adheres to the Ethereum ERC-20 standard, ensuring smooth interoperability with existing tools and services.
The Worldcoin Token Distribution
Approximately 80% of the total Worldcoin supply is earmarked for global distribution.
The company has designed a strategy to incentivize new “unique users” to sign up and receive free cryptocurrency, with a particular focus on individuals in developing nations.
To register, users must undergo an eye scan to confirm their uniqueness in the system, ensuring an equitable distribution of the Worldcoin supply.
The company has dispatched around 25 operators worldwide to facilitate the token distribution process.
Trading and Availability
As per Etherscan data, there are currently 1 billion Worldcoin (WLD) tokens in existence, representing the total supply.
Limited quantities of the token have been delivered to addresses on OKX and Bybit, signaling their availability for trading on these exchanges.
However, it’s worth noting that more than 95% of the WLD tokens are concentrated in just six addresses, indicating that a small number of individuals or organizations hold a significant portion of the total token supply.
The launch of the Worldcoin (WLD) token presents a captivating opportunity for aspiring crypto enthusiasts to participate in a project that seeks to pioneer a global universal basic income.
With anticipation building, crypto enthusiasts worldwide eagerly await the chance to engage with the Worldcoin token and embrace its vision for a fairer and more inclusive financial future.
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