Home News The Dawn of a New Era: Worldcoin Cryptocurrency Launched by OpenAI’s Sam Altman

The Dawn of a New Era: Worldcoin Cryptocurrency Launched by OpenAI’s Sam Altman

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The Dawn of a New Era: Worldcoin Cryptocurrency Launched by OpenAI’s Sam Altman

Sam Altman, a well-known co-founder and CEO of OpenAI, is dovetailing into the world of digital currencies in an intriguing development in the field of cryptocurrencies and artificial intelligence. The well-known AI expert, who played a key role in developing the ground-breaking chatbot ChatGPT, has applied his inventive skills to a brand-new initiative called Worldcoin, a project focused on digital identification.

The Worldcoin token, also known as WLD or the Worldcoin native crypto token, will be unveiled on July 24. Despite the conflicting opinions of Silicon Valley’s intellectual elite on the project’s novel approaches to online identity authentication and wealth inequality, Worldcoin has unquestionably attracted the attention of investors.

Altman has been successful in rallying investor backing for Tools For Humanity, the company that created Worldcoin, by using the alluring promise of cutting-edge AI as the bait. In a Series C investment round in June, strong hitters like a16z and Blockchain Capital joined Tools For Humanity and raised an astounding $115 million. If the coin takes off, the initiative, which now has more than 2 million users, offers Altman and the other investors a fantastic opportunity.

Worldcoin has reserved a sizeable portion of its enormous 10 billion WLD token supply, or 75% of the tokens, for its community. 9.8% of the proceeds will go to the founding team, while the remaining 13.5% will be distributed to the investors in Tools for Humanity. It’s important to note that the WLD token’s inflation won’t start until 15 years from now.

The Worldcoin token will be listed on Binance, the undisputed leader in cryptocurrency trading, which could lead to some tense trading sessions. WLD spot trading pairs will begin trading on the platform the day of the token launch itself, according to Chinese cryptocurrency writer Colin Wu. The WLD token is currently trading at $1.88, bringing its massive fully diluted valuation (FDV) to $18.8 billion.

The “Orb,” a novel tool used to scan users’ irises, is an intriguing feature of the Worldcoin project. By doing this, Worldcoin ensures that each user can only have one Worldcoin ID while also giving away its tokens for nothing. In this AI-infused environment, this tactic seeks to weed out bots and give each person a distinct identity.

Particularly in cases where governments choose to distribute a “universal basic income,” this distinctive ID could be crucial in curbing fraudulent activity. Investors in Worldcoin have been cautioned to be aware of the possible amplification of the issue by AI technology by Altman, who is well recognized for his ardent support of universal basic income as a method to tackle income disparity.

Although Worldcoin and its ambitious project are just getting started, they unquestionably have the potential to change the cryptocurrency and AI landscapes. It will be fascinating to follow this trip.

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