Worldcoin is Dead, Rebrands to World and Shifts to Identity Verification
What Now With Worldcoin After Sam Altman's Departure From OpenAI?
Sam Altman’s Worldcoin project has rebranded as “World” and is moving away from its original goal of creating a global digital currency. Instead, the company now focuses exclusively on its biometric eye-scanning technology to provide secure identity verification, a critical need in today’s world of AI-driven deepfakes and digital fraud.
This week, what started as Worldcoin became World.
— Alex Blania (@alexblania) October 21, 2024
We hope this will be a real human network providing identity, financial infrastructure and community to everyone.
We also released many new things. pic.twitter.com/DgN2sTsQdh
From Cryptocurrency to Identity Verification
Worldcoin, launched in 2021, initially aimed to create a cryptocurrency accessible to everyone by leveraging blockchain technology. The twist? You could only acquire Worldcoin by having your iris scanned through an Orb device. This vision promised to make Worldcoin a foundational layer for universal basic income in the future, an ambition Altman had often alluded to.
However, the project faced resistance in several countries due to privacy concerns. The use of biometric data, especially iris scans, raised red flags among privacy advocates and regulators. Spain and Portugal banned Worldcoin temporarily, and other countries initiated investigations, questioning how the company would handle sensitive personal data.
The Shift to Identity Verification
In light of these challenges, Worldcoin’s parent company, Tools for Humanity, decided to shift focus entirely. The rebranded “World” now promotes its Orb technology not as a means of distributing cryptocurrency, but as a tool to combat identity fraud. The Orb, a spherical device that scans irises, is now used to verify a person’s identity as part of the World ID system. This system is designed to confirm that someone is human in a world increasingly filled with AI-generated deepfakes and other digital deceptions.
The latest version of the Orb, powered by NVIDIA’s Jetson chipset, offers faster and more efficient scans. The device is now cheaper to build and easier to scale, making it accessible to more regions worldwide, including Costa Rica, Romania, and Morocco.
A Growing User Base and Global Expansion
Despite the pivot, World continues to attract users. The company has already scanned nearly 7 million people globally, offering them a World ID that can be used to verify their identity online. This technology is increasingly valuable in sectors like social media, where platforms like Discord and Reddit use it for user authentication.
In an event in San Francisco, co-founder Alex Blania announced that the new Orb devices would be available on-demand, with users able to receive them much like ordering a pizza. This distribution model will help the technology reach more users across the globe.
Combatting Identity Fraud
While Worldcoin’s initial vision of a global cryptocurrency has been set aside, the company’s pivot towards identity verification positions it as a key player in a world where proving human authenticity online is becoming ever more critical. Its mission to combat identity fraud may redefine how we think about online security and privacy.
