The cryptocurrency project Worldcoin, led by Tools for Humanity and co-founded by OpenAI’s CEO Sam Altman, is exploring partnership opportunities with OpenAI and PayPal, a banking and financial services provider.
This constitutes an alignment of Worldcoin’s activities with identity verification which is done digitally, and cryptocurrency distribution.
However, the company has encountered regulatory roadblocks all around the world, including those in Spain and Portugal, and has faced operational restrictions from some European countries due to data privacy concerns. Worldcoin as a result adopted measures, involving improved user consent procedures and providing a feature to make data deletion requests through the app.
The Worldcoin team utilizes the Orbs technology, the scanning mechanism that includes visual capturing of the iris, as the required means for electronic identification. Dates for the World Chain, a Layer-2 network on the Ethereum platform, have already been announcedÂ
This network will serve its human users better than its automated counterparts. The network will integrate with the Worldcoin protocol which will scale up the system’s transaction efficiency and speed of transactions in the Crypto ecosystem.
Also Read: Worldcoin Set to Boost WLD Supply by 19% in Next 6 Months
