Aleksei Dmitry Melnik 
CoinDesk reported on Monday about Worldcoin, a crypto project from the creator of ChatGPT Sam Altman, regarding the launch announcement of a cryptocurrency wallet named World App that runs on the Polygon (MATIC) blockchain. This cryptocurrency wallet is depicted as a minimalist alternative option for many other popular wallets like MetaMask. Amongst its functions of buying, selling and storage of crypto assets, it also consists of identification features through eye scanning with the help of another project named World ID.
This New Project’s Mission Seems Pretty Ambitious
Sam Altman is the CEO of OpenAI, which is the company behind ChatGPT, and the co-founder of Tools for Humanity, which is the firm behind Worldcoin, World App, and World ID. Meanwhile, Tiago Sada, Head of Product at Tools for Humanity, states that “When compared to other wallets, you would probably find even fewer features on the World App, actually, than on some of them – and that’s on purpose”.
According to reports made on these announcements and statements, one of the main objectives of this project is to utilize the identification of people with a system called “Proof-of-Personhood”. But the technology of retinal scanning and its implementation in the World ID initiative is highly criticized by the Center for Technology Reviews of the MTI.
The startup’s mission’s essential component is its identification features, CoinDesk claims. This mission is to create a Universal Basic Income (UBI) for all the people of the world, giving them equal quantities of the token and bringing equality. The distribution process of this project would take place through personal authentication via World ID and its official application, the World App, which also works as a wallet for transactions and storage with its login system. This app will also be able to access social network properties and could even replace the passport hurdle.
Sam Altman Suggests that the Project is Ready
Sam Altman states that this project has been up and running in beta for many months with 1.5 million people registered, 500,000 of them using the application monthly. “On a typical day, the app sees around 60,000 transactions and 25,000 global ID verifications from over 100,000 people around the world” states Tools for Humanity.
