Sunday, September 24, 2023

The growing interest in Worldcoin, the digital identification system and universal basic income initiative, is reported, with claims of large numbers of registrations occurring daily. Sam Altman, one of the project’s founders, claims that at present, an individual is authenticated by their iris-scanning devices — referred to as the “Orb” — every 8 seconds. Nonetheless, some evidence might challenge these assertions.

Worldcoin Operations Reportedly Scaling Up, One Person Verified Every 8 Seconds

Worldcoin, a project aspiring to establish a digital decentralized ID for the deployment of a Universal Basic Income (UBI) system with Sybil protections, is reportedly garnering increased attention from potential users, based on comments from its team.

Officially launched on July 24 after over three years of development, the project is now intensifying its global presence. Images of the iris-scanning device, the “Orb,” have appeared on Worldcoin’s social media channels, showing their presence in cities such as Lisbon, Miami, and Los Angeles, despite the World App not being available in the U.S due to regulatory uncertainties.

Sam Altman, Openai CEO and Worldcoin co-founder, shared a video on social media of users queuing to register using an Orb for identity verification. Altman reported “extraordinary lines worldwide,” announcing that a user is verified every 8 seconds.

Altman’s Goals

In response to the alleged high demand, Worldcoin now permits users to reserve their initial airdrop of 25 WLD, the platform’s native token, and verify their identity later to receive it. However, some reports suggest that the demand may not be as robust as Altman suggests. For instance, a recent SCMP article reports that only a few hundred participants registered in Hong Kong on Monday and Tuesday.

While Worldcoin announced that it had reached 2 million signups by July 13, data indicates that only about 13% of these users actually hold WLD tokens on the Optimism network. Etherscan data shows less than 270,000 participants hold WLD, the platform’s token, a number significantly lower than the 2 billion people goal Altman recently mentioned on social media.

According to blockchain research firm Kaiko, the project’s early weeks could be pivotal due to the distribution of liquidity among market makers, with the initial airdrop’s value near $50, expected to remain in that range for the subsequent three months.

We’re curious about your thoughts on Wordcoin and its proclaimed adoption rate. Please share your thoughts in the comments section below.

Frequently Asked Questions (FAQs) about Worldcoin Adoption

What is Worldcoin’s main aim?

Worldcoin aims to establish a digital decentralized ID system that will deploy a Universal Basic Income (UBI) system with Sybil protections.

Who is Sam Altman?

Sam Altman is the CEO of Openai and co-founder of Worldcoin. He is involved in the implementation of the project and its public representation.

What is the current user verification rate as per Sam Altman?

According to Sam Altman, one person is getting verified every 8 seconds by Worldcoin’s iris scanning devices called the “Orb.”

Is the Worldcoin app available in the U.S?

No, the Worldcoin app is not available in the U.S. due to lack of regulatory clarity.

What is the controversy regarding Worldcoin’s user sign-ups?

While Sam Altman claimed there were 2 million sign-ups for Worldcoin by July 13, data suggests that only about 13% of these users have possession of the WLD tokens on the Optimism network. This casts doubt on the true scale of Worldcoin’s adoption.

What is the value of the Worldcoin’s initial airdrop?

The initial airdrop value of Worldcoin is close to $50 and it’s expected to remain in that range for the next three months.

More about Worldcoin Adoption


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CryptoFan73 July 29, 2023 - 9:01 pm

well, I dunno, this Worldcoin stuff sounds cool on paper but the actual implementation is what I worry about. just don’t want another crypto flop ya know.

EagleEyeEd July 30, 2023 - 1:56 am

2 million sign-ups but only 13% holding tokens? Something’s not adding up here…

UBIAdvocate July 30, 2023 - 6:12 am

This could be a game-changer! UBI has needed a platform like this for a while now, lets hope it delivers.

SkepticalSam July 30, 2023 - 8:59 am

umm how can we trust these Orbs with our iris data?? feels a bit risky to me…

InvestorGuru2023 July 30, 2023 - 10:48 am

The token’s value at near $50, and predicted to stay like that for three months? Hmm might be worth a shot.

TechJunkie101 July 30, 2023 - 1:53 pm

Altman’s really pushing this UBI thing eh? Wonder if it’ll actually work out. Universal basic income is a contentious topic, after all!


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