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Sam Altman’s Worldcoin eyeball-scanning crypto project launches

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Summary

Sam Altman's Worldcoin project has launched, with the goal of helping distinguish humans from AI online, and enabling global democratic processes and economic opportunity. The project has been in the works for 3 years and has raised $250 million from investors. Individuals can download the World App and visit an Orb to receive their World ID in exchange for 25 Worldcoin tokens. The token is capped at 10 billion and the maximum circulating supply is 143 million. Potential applications of the token include combating bots, enabling incentive programs, and facilitating democratic governance. Jack Dorsey has commented on the project, calling it "cute."

Q&As

What is the purpose of Sam Altman's Worldcoin project?
The purpose of Sam Altman's Worldcoin project is to help build a reliable solution for “distinguishing humans from AI online,” enable “global democratic processes” and “drastically increase economic opportunity.”

How has Worldcoin raised money and from whom?
Worldcoin has raised about $250 million altogether and counts Andreessen Horowitz, Khosla Ventures and Reid Hoffman among its backers.

How is Worldcoin verifying identity?
Worldcoin is verifying identity by using an Orb, the startup’s helmet-shaped eyeball-scanning verification device.

What are the potential applications of the Worldcoin token?
The potential applications of the Worldcoin token include fortifying incentive strategies like coupons and loyalty programs traditionally susceptible to fraud, combatting bots through identity confirmation, and facilitating a globally democratic governance mechanism.

What is the total supply of Worldcoin tokens?
The total supply of Worldcoin tokens is capped at 10 billion “WLD” tokens for the first 15 years.

AI Comments

👍 Sam Altman's Worldcoin project is an innovative way to help increase economic opportunity and build a reliable solution to distinguish humans from AI. It has the potential to enable global democratic processes and eventually provide a path to AI-funded UBI.

👎 Sam Altman's Worldcoin project has faced criticism for exploitative practices in poor countries. The token is also not launching in the US for now, capping the total supply to 10 billion tokens.

AI Discussion

Me: It's about Sam Altman's Worldcoin project, a crypto startup that is rolling out its identity technology and tokens globally. They're giving 25 tokens to those who download their wallet software and verify their identity using their helmet-shaped eyeball-scanning device.

Friend: Wow, that's really ambitious. What are some of the implications of the project?

Me: Well, if successful, it could have a big impact on global economic opportunity and democratic processes. It could also be a potential path to AI-funded universal basic income. On the other hand, there have been criticisms of exploitative practices in some countries, so that's something that should be monitored. There's also the issue of tokenomics, and how the total supply of the tokens will be capped for the first 15 years at 10 billion.

Action items

Research the Worldcoin project and its potential applications.
Follow the project's progress and join the discussion on social media.
Consider investing in Worldcoin tokens if you are comfortable with the risks associated with cryptocurrency investments.

Technical terms

Crypto: Short for cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.
Wallet: A digital wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance.
Token: A digital asset that is used to represent a certain value or utility on a blockchain network. Tokens can be used to represent a variety of assets, such as loyalty points, digital currencies, or even physical assets.
ERC-20: A technical standard used for smart contracts on the Ethereum blockchain for implementing tokens. ERC-20 defines a common list of rules that all Ethereum tokens must adhere to.
Tokenomics: The study of the economics of tokens, including the design, issuance, and circulation of tokens. Tokenomics is a relatively new field of study that looks at how tokens are used in the economy and how they interact with other economic systems.