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- 1 Sam Altman in Singapore said that overcoming biometric resistance remains a challenge.
- 2 He also said that as the demand grows, Worldcoin faces huge operational challenges.
Sam Altman, the creator of OpenAI, said on the panel at Token 2049 in Singapore that when it comes to what it takes to get these orbs manufactured, the operational challenges are huge. The other challenge is the biometric resistance to the lack of a better world that some people feel when they first hear about the product, but both of these are trending.
The Worldcoin project officially launched on 24th July and encourages users to provide their identity. People need to scan their eyes through a sphere-shaped device called an Orb to confirm that everyone is human and can only sign up once. This scanning of eyes works as the WorldID. The project has deployed Orbs in dozens of cities around the world mostly in the global south.
Worldcoin Do Not Stores Data
Alex Blania, co-founder of Worldcoin said on the same panel that after the project went live, talking to the policymakers and regulators worldwide has become a major part of his job. Further, he added that he is amused to see long queues and people waiting. It’s a crazy week and long long line steam is expanding backup and just scaling.
Balana made it clear that Worldcoin does not store data after the iris scan. The person can remain anonymous which is a very powerful thing that he believes has to be figured out globally. And, Worldcoin has a chance to do that in reality with policy preservation.
Worldcoin has gained huge attention because of Sam Altman who is also the Chief Executive of OpenAI. He has gained popularity for his high-level generative AI. The motive behind the creation of the coin is that the usual checks like Captcha might not be adequate anymore against the advanced AI bots.
As a result, humans may have to find a way to differentiate themselves from AI. Hence, Worldcoin was created to solve this emerging problem. The scan of the eyes ensures that the person is human. The project has placed “Orbs” globally.
Worldcoin says that 2.2 Million have signed up mostly during the trial period of the last 2 years. It raised $115 Million from venture capitals like Blockchain Capital, a16z crypto, Bain Capital Crypto, and Distributed Global in funding in May.
The sign-up sites in Britain, India, and Japan said that they were joining to secure 25 free Worldcoin tokens. The company says verified users can claim that.
Summary
Sam Altman says that Worldcoin faces a big operational crisis due to its greater demand among people globally. Another thing he added is the biometric challenge. Further, Balana made it clear in the conference that Worldcoin does not store the data and hence there will be no misuse of it.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
