Worldcoin, Sam Altman’s cryptocurrency project that scans the irises of people in exchange for digital tokens, is rebranding as “World” to better define its purpose and expand its scope. Initially launched with the goal of providing a universal basic income, the project has shifted its focus to human ID verification in response to the AI frenzy sparked by ChatGPT. The new system issues individuals a “World ID” after scanning their eyes into an orb, verifying their “proof of personhood” without revealing any other identifying information.
CEO Alex Blania stated that the name change from Worldcoin to World reflects the company’s evolution and its role as an infrastructure layer for AI. This rebranding highlights the challenges World has faced in defining itself and its business. Sam Altman emphasized the importance of coming to a consensus within the company on its direction before significant progress can be made. The shift away from being solely a crypto company also comes at a time when the cryptocurrency market has experienced setbacks, such as the fall of FTX.
The company announced several new initiatives, including a new version of the orb with a white coating, making it more accessible to users. World also plans to allow people to have their eyes scanned on demand using the app, with orb-scanning stations being set up at retail spaces globally. Premium verification experiences are already available in Mexico City and Buenos Aires, where individuals can get eye scans in boutique spaces with staff assistance. Privacy concerns have surrounded World from the beginning, with experts cautioning against the exchange of biometric data for crypto.
Despite the controversy and challenges, Sam Altman’s prominence in the tech industry continues to grow, with OpenAI’s recent record-breaking fundraising round overshadowing Tools for Humanity’s more modest funding. Altman emphasized the importance of scaling the platform to create a large network at the recent event, highlighting the potential impact of a mass-scale implementation of World’s technology. The company’s efforts to redefine itself and expand its offerings reflect a broader trend in the industry towards incorporating AI and biometric data into everyday interactions.
