WorldCoin is Onboarding 8 Users Per Second, Claims Founder

WorldCoin, the project centered around digital identification passports and universal basic income, appears to be gaining significant traction as numerous individuals are claimed to be enthusiastically enrolling and participating in the initiative.

Sam Altman, one of the co-founders of the project, asserts that the ‘Orb,’ which is equipped with iris scanning devices, is successfully verifying one person every 8 seconds.

After more than three years of development, the project was officially launched on July 24 2023 and is now progressively expanding its operations to various regions across the globe. WorldCoin has been actively showcasing images of the iris scanning devices, aptly named ‘Orbs,’ on their social media platforms.

Sam Altman, the CEO of OpenAI and Co-Founder of WorldCoin, shared a video depicting users queuing up to be enrolled using the Orb to verify their identities. In the video, Altman mentioned the presence of ‘crazy lines around the world,’ emphasizing that one person was being verified every 8 seconds.

In response to the purportedly overwhelming demand, WorldCoin has taken the step of enabling users to secure their genesis airdrop of 25 $WLD, the native token of the protocol, by making reservations. Subsequently, users can undergo verification at a later time to receive their reserved tokens.

Despite WorldCoin’s claim of reaching 2 million signups on July 13 2023, the data indicates that only approximately 13% of these users actually possess $WLD tokens on the Optimism network.

According to information from EtherScan, fewer than 270,000 participants currently hold the protocol’s token, $WLD. This figure falls considerably short of the ambitious final goal of 2 billion people that Sam Altman intends to reach for the project.

According to a recent press release, WorldCoin is intended to be the world’s largest, most inclusive identity and financial public utility, owned by everyone.

The WorldCoin protocol currently consists of:

• World ID, a privacy-preserving digital identity designed to help solve important, identity-based challenges, including proving an individual’s unique personhood
• WorldCoin token (WLD), where laws allow, the first digital currency to be freely distributed to people for just being a unique human
• World App, the first World ID-compatible app, developed and operated by Tools for Humanity, that enables payment, purchases and transfers globally using digital assets and fiat-backed stablecoins

As part of the program, users are incentivized with cryptocurrency rewards for their participation. According to reports, the sign-up reward offered is 25 $WLD, which is currently valued at $52.50.