Worldcoin Sees Surge Despite Controversy, Hits 1 Million Users Amid OpenAI Updates
Summary:
Worldcoin (WLD), a cryptocurrency initiative co-founded by OpenAI CEO Sam Altman, has experienced a 140% growth in the past week with its daily users exceeding 1 million. This project, launched in July 2023, rewards users with its native cryptocurrency for allowing their iris scans, aiming to introduce a global Universal Basic Income. Despite the privacy concerns and scrutiny by global regulators resulting in service suspension in some countries, the Worldcoin token has still accrued gains of over 141% in the recent week. These developments coincide with several significant updates from OpenAI.
The Worldcoin (WLD) token, a cryptocurrency venture co-created by OpenAI CEO Sam Altman, saw an increase of over 140% in the past week with its daily users surpassing 1 million. Worldcoin announced on February 18 that the user count of its crypto wallet application, the World App, which was the first wallet created for the Worldcoin project, had reached over 1 million. This is a significant increase compared to the 100,000 daily active users in November last year.
Worldcoin, a project which respects user privacy and digitally verifies identities, was initiated in July 2023 by Sam Altman and Alex Blania. Users are rewarded with the native cryptocurrency for allowing their iris scans. Over the past fortnight, the price of Worldcoin rose by more than 172%. Worldcoin's objective is to establish a global Universal Basic Income by distributing its native WLD token for identity verification.
However, the plan to implement a Universal Basic Income (UBI) using the biometric identification method has stirred controversy, primarily over privacy concerns related to its metallic eye-scanning devices known as "Orbs." On January 31, Worldcoin’s local activities were scrutinized by the Office of the Privacy Commissioner for Personal Data (PCPD) of Hong Kong, due to potential "serious violations of personal data privacy." The PCPD mentioned that it has carried out warrants and searched six properties owned by Worldcoin in Hong Kong as part of its probe.
Additionally, the project has also caught the eyes of global regulators sparking privacy issues, with services suspended in Kenya and iris scanning temporarily halted in India. Yet, despite these regulatory obstacles, the native Worldcoin token recorded gains of over 141% in the past week, boosted by a broader upswing in the entire crypto market.
In the meantime, Worldcoin's impressive weekly performance coincides with several major updates from OpenAI. On February 16, OpenAI introduced its latest text-to-video converter, Sora, enabling users to generate video content and scenes from text triggers. A week prior, on February 9, Altman expressed his intention to accumulate a shocking $7 trillion to back the expansion of the company's semiconductor chip production. Despite the enormous sum triggering skepticism in the tech community, Altman didn't appear bothered.
Published At
2/19/2024 4:31:00 AM
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