Worldcoin Seeks Facebook-Level Scale for Global Expansion
Alex Blania, CEO of Tools for Humanity, emphasized Worldcoin's commitment to scaling its iris-scanning technology at Korea Blockchain Week 2024 in Seoul.
Blania highlighted that, similar to other major networks like PayPal and Facebook, Worldcoin’s value increases with its scale. The primary goal now is to expand the global distribution of Worldcoin’s “Orbs” to verify and onboard more users.
Worldcoin, a venture co-founded by Blania and OpenAI’s Sam Altman, provides “World IDs” through iris scans on Orb devices to confirm human identity. This initiative aims to address potential risks posed by AI. Currently, Worldcoin has issued over 6.5 million verified IDs across more than 160 countries and distributes its WLD cryptocurrency to participants.
Blania revealed that Worldcoin plans to unveil significant updates to the Orb device soon, focusing on operational improvements that could have a substantial impact.
READ MORE: Japan Proposes Lower Tax Rates for Cryptocurrencies
In addition, Worldcoin is exploring collaborations with South Korean gaming companies and is preparing to launch its own Layer-2 network, World Chain. This new network, designed as an “Optimism super-chain,” will enhance scalability beyond the current Optimism mainnet, with partnerships already in place with firms like Hyperlane and Moralis.
However, Worldcoin has faced regulatory scrutiny in various regions, including Colombia, Spain, and South Korea, over privacy concerns related to iris data collection. Hong Kong authorities also ordered the cessation of Worldcoin’s local operations in May.
Damien Kieran, Chief Privacy Officer at Tools for Humanity, defended the technology, stating it employs advanced privacy-enhancing methods and emphasized ongoing efforts to educate regulators and adjust practices as necessary. In March, Worldcoin updated its platform to give users more control over their iris data.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
