• Worldcoin announced the launch of its WLD token.
• The company plans to distribute WLD to over two million people across the world.
• Worldcoin’s core offering requires users to do an in-person iris scan using its ‘Orb’ device for authentication.
Worldcoin Launches WLD Token
Worldcoin – one of the most controversial projects in the digital asset space – announced the launch of its WLD token. The company plans to distribute WLD to over two million people across the world. The project’s core offering – World ID – requires users to do an in-person iris scan using WorldCoin’s ‘Orb.’
Controversial Start
Despite multiple delays, Worldcoin has faced some serious concerns regarding potential privacy risks since it involves a biometric verification device to receive a World ID. Despite this, the team behind the project believes it could drastically increase economic opportunity and scale a reliable solution for distinguishing humans from AI online while preserving privacy if it is successful.
Regulatory Crackdown
The launch comes at a time when regulators in the United States have ramped up their crackdown on token issuers in the country. While Worldcoin is scaling up operations to 35 cities in 20 countries, WLD tokens won’t be available in those places yet as they only registered users outside US jurisdictions so far.
Scaling Up Global Operations
The project aims to give everyone on the planet some WLD tokens after registration while their accounts are anonymized. The team has been registering users across the world with help from its physical imaging device called ‘Orb.’ This orbed device helps provide more secure access and authentication by allowing users to authenticate their identity with a real-time iris scan instead of relying on passwords alone.
Potential Impact
If successful, this project could potentially bring about efficient identity verification systems that ensure user privacy while also providing increased economic opportunities for millions of people around the world who may not have access to traditional banking services otherwise.