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Business News/ Markets / Cryptocurrency/  Open AI CEO Sam Altman's Worldcoin rallies on first day; around $145 million worth of token traded
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Open AI CEO Sam Altman's Worldcoin rallies on first day; around $145 million worth of token traded

In a world where chatbots like ChatGPT can produce incredibly human-like language, the Worldcoin project believes that World IDs will become essential

Worldcoin is a new cryptocurrency project created by Sam Altman (Getty Images via AFP)Premium
Worldcoin is a new cryptocurrency project created by Sam Altman (Getty Images via AFP)

The world is excited about artificial intelligence and one more indication is the rally witnessed by Worldcoin, the token of the crypto project co-founded by Sam Altman, the CEO of ChatGPT-maker OpenAI. The data compiled by CoinMarketCap revealed that as of 11:12 AM in London, Worldcoin jumped to $3.58 from $1.70 before falling back to $2.52, news agency Bloomberg reported on Monday.

After exchanges like Binance listed Worldcoin, around $145 million worth of the token has been traded so far.

Worldcoin is a new cryptocurrency project created by Sam Altman. It uses a special device called an "orb" to scan people's eyeballs. This scanning process generates a unique digital identity for each person, known as a "World ID." This World ID serves as proof that the person is a real individual, giving them the status of "proof of personhood" in the Worldcoin system. In other words, it confirms that they are a genuine and unique person in the digital world.

In a world where chatbots like ChatGPT can produce incredibly human-like language, the Worldcoin project believes that World IDs will become essential. The aim is to provide a reliable way to verify someone's authenticity. When someone has a World ID, it means they have been scanned with the orb device, confirming that they are a genuine individual, not an AI chatbot.

Limit of 10 billion tokens

Worldcoin has a limit of 10 billion tokens that will ever be created, as mentioned in its white paper. On the launch day, 143 million Worldcoins were released. Out of these, 100 million were given to market makers as a loan, and the rest were distributed to investors who had verified their identity using the Orb technology before the official launch.

However, there's a catch - Worldcoin won't be available for trading in the United States due to regulatory restrictions in the country. This means people in the US won't be able to buy, sell, or trade Worldcoin because of certain rules and regulations governing cryptocurrencies in the US.

(With inputs from agencies)

 

 

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ABOUT THE AUTHOR
Devesh Kumar
I cover politics, geo-politics, economy, and technology and have keen interest in understanding and analyzing the complex issues that shape our world. I am committed to delivering well-researched, balanced, and thought-provoking stories that provides insights into the key trends and developments.
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Published: 24 Jul 2023, 07:22 PM IST
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