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On Monday, Worldcoin, an innovative cryptocurrency project, was officially launched by its founder, Sam Altman, who is also the CEO of OpenAI. At the core of this groundbreaking initiative is the World ID, a revolutionary concept known as a “digital passport,” designed to verify the authenticity of individuals as genuine humans rather than AI bots.

Worldcoin is driven by the organization Tools for Humanity, operating in San Francisco and Berlin. With a user base of 2 million during its beta phase, the project plans to expand its “orbing” operations to 35 cities across 20 countries following the launch. Early adopters in select countries will be rewarded with the project’s cryptocurrency token, WLD.

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The WLD token has experienced significant growth since its inception, reaching an impressive peak of $5.29 on Binance, the world’s largest exchange. As of 1000 GMT on Monday, the price settled at $2.49, showing a considerable surge from its initial value of $0.15.

Worldcoin utilizes blockchain technology to store World IDs, ensuring privacy and avoiding central control by any single entity. Co-founder Alex Blania emphasized the importance of this feature in distinguishing between real individuals and AI bots in the era of generative AI chatbots.

Worldcoin’s Vision for the Future

Sam Altman envisions Worldcoin’s potential impact on reshaping the economy amid the rise of generative AI. With AI augmenting human capabilities and potentially replacing jobs, Altman sees the concept of universal basic income (UBI) as a solution to address income inequality. World IDs can play a pivotal role in reducing fraud when implementing UBI, as they can verify genuine human users.

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