Worldcoin, an open-source blockchain protocol founded by OpenAI CEO, Sam Altman, announced on July 24, 2023, that it has officially launched and introduced its much-anticipated WLD token.
The WLD token is a digital asset distributed to users who have World IDs, the project’s main offering. A World ID is an exclusive account designed exclusively to assist individuals in establishing their online identity through in-person verification using iris-scanning orbs.
To obtain a World ID, users will undergo an iris scan with Worldcoin’s “orb,” a ball about the size of a bowling ball. A unique World ID is created after the orb’s iris scan confirms the person’s authenticity.
The number of verified individuals has already surpassed two million, and they are all eligible to receive their portion of the WLD token on Monday, July 24.
According to Alex Blania, the co-founder of the Worldcoin project, a cryptocurrency into the World IDs because of the blockchain’s capacity to securely store these IDs while safeguarding user privacy. And also, the decentralized nature of cryptocurrency blockchains ensures that they cannot be controlled or shut down by any single authority.
Blania stated:
“In the age of AI, the need for proof of personhood is no longer a topic of serious debate; instead, the critical question is whether or not the proof of personhood solutions we have can be privacy-first, decentralized and maximally inclusive.”
To accelerate the signup process, Worldcoin has decided to expand the number of Orbs by deploying 1.5k orbs in over 35 cities worldwide, spanning 20 countries.
Presently, Worldcoin Orbs are accessible in prominent locations such as Berlin, Dubai, London, Mexico City, Miami, New York City, San Francisco, Seoul, and Tokyo. Individuals who have been verified through an orb will be rewarded with an initial allocation of 25 WLD tokens.
Meanwhile, major crypto exchanges, such as OKX and Binance, have wasted no time in listing the token. OKX opened WLD deposits at 07:00 UTC and stated that once the token deposit meets the necessary requirements, the WLD/USDT trading pair will be listed. The exchange stated that users should be able to initiate WLD withdrawals starting from 10:00 UTC on July 25, 2023.
Similarly, Binance announced that it would open trading for WLD/BTC and WLD/USDT spot trading pairs on July 24, 2023, at 09:00 (UTC). The exchange encouraged users to begin depositing their WLD tokens and noted that withdrawals would begin tentatively on July 25, 2023, 09:00 (UTC)
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