- Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.
- Worldcoin promises biometric proof of identity amid the growing usage of AI.
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched on Monday, July 24. Binance announced it had listed the token, welcoming users to participate in new trading pairs WLD/BTC and WLD/USDT.
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.
Worldcoin plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.
Worldcoin to provide digital proof of identity
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.
Worldcoin uses a device called “The Orb” to scan people’s irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations.
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.