Worldcoin: Sam Altman's project launches its WLD cryptocurrency

Monday, July 24, 2023

The 2 million or so users who have already had their irises scanned will receive the WLD cryptocurrency.

As The Big Whale revealed in the spring, the Worldcoin project announced the launch of its token this Monday 24 July. The cryptocurrency will be sent to people who have tested its system over the past few months, i.e. those who have agreed to have their irises scanned in exchange for a "proof of humanity".

The Wordcoin project plans to combat the undesirable effects of artificial intelligence by allowing human beings to prove that they are not machines in the digital space. In much the same way as a Google or Facebook account, a Worldcoin account enables people to prove their identity online. It differs in that it uses biometric data (the iris) instead of a simple email address.

The Wordcoin token (WLD) rewards participants in this experiment, but its role is not yet clear. To date, its only function has been to attract members. More than 2 million people have scanned their irises since the project began in 2019. The WLD has been issued on the Optimism blockchain, a layer 2 of Ethereum (read our dossier).

The Worldcoin project is set to ramp up in the coming weeks. While the "Orbs" (its machines that scan the iris) were only available in certain cities around the world, a wider scheme has been put in place to speed up the process. As of today, it is now possible to find an Orb in the following European cities: Barcelona, Berlin, Bilbao, Lisbon, London, Madrid, Munich, Palma de Mallorca, Paris, Porto, Seville, Valencia and Warsaw.

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This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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