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Worldcoin Announces Circulating Supply Update and Sales to Trading Firms

In a recent announcement on the Worldcoin blog, it has been revealed that World Assets Ltd., a subsidiary of the Worldcoin Foundation, plans to sell WLD tokens from the World Assets treasury to meet the growing demand for orb-verified World IDs and support the expansion of the Worldcoin network.

The majority of the currently circulating 193 million WLD tokens have been claimed by over 5 million individuals with orb-verified World IDs and through user grants in more than 160 countries. To facilitate the sale of WLD tokens, World Assets will be conducting private placements with select institutional trading firms operating outside of the United States.

These private placements will span a period of up to 6 months and will include measures to prevent the flow of WLD tokens sold outside the US back into the country. For instance, trading firms involved will be restricted from reselling WLD tokens to individuals or on digital asset trading platforms accessible to US persons. Additionally, a 40-day lock-up period may be implemented to restrict the resale of WLD tokens by trading firms, subject to legal and commercial considerations.

World Assets aims to negotiate with multiple trading firms, fostering competition among them to ensure the execution of private placements at prices close to prevailing market rates for WLD tokens, accounting for the aforementioned restrictions.

Under current market conditions, World Assets anticipates selling between 0.5 million and 1.5 million WLD tokens per week on average. This represents less than 0.1% to 0.4% of the weekly trading volume, leading to a corresponding increase in the circulating supply of WLD tokens.

It is important to note that World Assets may deviate from the outlined plans, and readers should refer to the Disclaimer provided in the Worldcoin Whitepaper for further details. Additionally, engaging with crypto products like WLD tokens carries inherent risks, and individuals are advised to review the Important User Information available on the Worldcoin website.

Please be aware that the availability of Worldcoin (WLD) tokens is restricted to certain territories, and they are not intended for individuals, companies, or organizations located in the United States or other restricted territories. However, World ID, TFH’s World App, and other associated functionalities within the Worldcoin ecosystem remain accessible in the United States.

For more information and updates, you can subscribe to the Worldcoin newsletter on the official website.

Image source: Shutterstock

Worldcoin (WLD) World App Reaches 10 Million Users

Worldcoin’s World App has achieved a major milestone, surpassing 10 million users since its launch in June 2023. The app, which aims to create a universal basic income, has gained significant traction and popularity among users worldwide.

World App: A Gateway to Universal Basic Income

The World App, developed by Worldcoin, offers users the ability to register their identity through eye-scanning technology known as “Orbs”. This innovative approach to identity verification has attracted millions of users who are interested in participating in the Worldcoin ecosystem and potentially benefiting from a universal basic income.

Rapid Adoption and User Engagement

Since its introduction, the World App has experienced rapid adoption, with an average of 2 million daily users and over 5 million monthly users. This level of engagement highlights the growing interest in cryptocurrencies and the potential for blockchain technology to revolutionize financial systems.

The success of the World App can be attributed to its user-friendly interface, accessibility, and the promise of a universal basic income. By providing a simple and intuitive platform, Worldcoin has made it easier for individuals from various backgrounds and countries to participate in the crypto economy.

Sparking Interest in Alternative Wallets

The viral story of a Kenyan user who used Worldcoin funds to purchase goats has captured the attention of the crypto community and highlighted the real-world impact of cryptocurrency. This heartwarming story has not only showcased the potential of Worldcoin but has also sparked interest in alternative wallets within the Worldcoin ecosystem.

Remco Bloemen, head of blockchain at the Worldcoin Foundation, expressed hope that the success of the World App would encourage other contributors to develop additional wallets for the protocol. By offering a variety of wallet options, Worldcoin aims to cater to the diverse needs and preferences of its user base, further promoting decentralization and accessibility.

Conclusion

Worldcoin’s World App has achieved a significant milestone, surpassing 10 million users since its launch in June 2023. The app’s user-friendly interface, eye-scanning technology, and the promise of a universal basic income have contributed to its rapid adoption and engagement. The success of the World App has also sparked interest in alternative wallets within the Worldcoin ecosystem, further driving the adoption and innovation of this cryptocurrency project.

Image source: Shutterstock

Crypto startup Worldcoin Raises $100m through Token Sales, Worth $3 Billion

Crypto startup Worldcoin is raising $100 million, which owns about $3 billion worth of cryptocurrency tokens in total, according to the report from The Information.

Worldcoin raised $100 million from investors, including Andreessen Horowitz, a previous backer, and Khosla Ventures through the sale of its Worldcoin tokens. Their latest funding was raised on Jan 26 from a seed round.

On Oct 21, 2021, Worldcoin raised $25 million at a $1 billion valuation.

Investors include hedge fund Three Arrows Capital, a16z, Coinbase Ventures, Digital Currency Group, crypto fund Multicoin Capital, including angel investor Sam Bankman-Fried, founder of FTX, and LinkedIn co-founder Reid Hoffman.

Worldcoin, founded in 2019, is a new global digital currency that will launch by giving every human on Earth a free share.

Worldcoin Emerges as Largest Deployer of Safe Wallets on Polygon Blockchain, Onboards 1.2 Million Self-Custodial Safe Smart Accounts

Worldcoin, the cryptocurrency project led by Tools for Humanity, has achieved significant milestones in its mission to drive adoption and empower users within the blockchain space. As reported on their official Twitter account, World App has emerged as the largest deployer of Safe wallets on the Polygon(Matic) blockchain. This achievement highlights the platform’s dedication to facilitating secure and self-custodial transactions.

Additionally, a tweet from Worldcoin states that they have successfully onboarded an impressive 1.2 million self-custodial Safe Smart Accounts, further solidifying their position as a key player in the blockchain industry. By providing users with a safe and reliable platform, Worldcoin aims to enhance accessibility and foster trust in decentralized finance.

In another tweet, Worldcoin invites followers to explore their blog post, which focuses on composability within the World App ecosystem. The blog sheds light on the protocols powering Worldcoin’s first wallet and provides valuable insights into the platform’s innovative approach to decentralized finance.

Furthermore, Tools for Humanity, the parent company of Worldcoin, recently announced a noteworthy achievement in fundraising. On May 25, 2023, the company successfully raised $115 million from investors. This influx of capital is expected to fuel the continued development and expansion of Worldcoin’s offerings, allowing them to further solidify their presence within the cryptocurrency landscape.

ChatGPT Founder's Worldcoin Sees Unprecedented Growth in Spain with AI Boom

Spain has become Worldcoin’s biggest operating market in Europe, according to a recent tweet of Worldcoin. The tweet claimed that more than 20,000 individuals join up for World ID, Worldcoin’s proof-of-personhood mechanism that protects anonymity, each month. This announcement comes just after Spain made substantial advancements in the growth of its artificial intelligence (AI) sector, placing Spain as a possible new hub for the EU’s AI business.

Sam Altman, CEO of OpenAI and founder of ChatGPT, co-founded the cryptocurrency Worldcoin, which has been making ripples in the industry. In a recent Series C fundraising round headed by Blockchain Capital, the business received $115 million, further consolidating its position as a significant player in the cryptocurrency industry.

Using an AI-safe proof of personhood (PoP) credential, Worldcoin’s World ID is a global identification system that enables users to digitally demonstrate their individuality and humanity.

Since World ID’s launch in Madrid a little more than a year ago, more than 150,000 Spaniards have signed up, with over 20,000 new registrations occuring each month. Due to its quick growth, Spain currently has the EU’s fastest-growing Worldcoin market.

The growth of Spain’s AI industry is the reason for World ID’s development there. Since 2020, Spain has reportedly achieved major strides in the development of its AI industry. Modern technology has made it necessary to determine which internet activity in Spain is related to people and which is not. In this situation, World ID is useful.

Adigital and Tech Barcelona, two of Spain’s most significant technology organisations, have joined Worldcoin’s contributing team at Tools for Humanity (TFH), in addition to extending World ID. This action strengthens Worldcoin’s dedication to promoting technical growth and AI that is human-centric.

The goal of Worldcoin, as stated in their official Twitter profile, is to create the biggest financial and identification network on Earth with everyone having the ownership. It seems they are close to attaining this aim based on the exponential expansion of World ID in Spain.

Worldcoin's Global Identity Protocol Hits 2 Million Sign-ups

Worldcoin, aiming to be largest identity and financial network, led by chatgpt owner OpenAI CEO Sam Altman, as a public utilityan innovative global identity protocol, has announced a significant milestone, reaching 2 million World ID sign-ups during its beta phase. This achievement was made possible in less than half the time it took to reach the first million sign-ups, indicating the Worldcoin ecosystem’s quick growth and rising demand.

Participants have signed up from cities all around the world, including Barcelona, Berlin, Buenos Aires, New York, Seoul, and Tokyo. On the project’s worldwide tour, Orbs, Worldcoin’s unique biometric imaging devices, have been made accessible for the first time in these places.

With an average of over 40,000 people signing up for a confirmed World ID every week, Worldcoin has seen amazing growth. In the next months, Orb supply is anticipated to rise in response to this spike in demand.

The World ID protocol is gaining traction among various apps and services. Okta’s Auth0, a global authentication and authorization platform, recently integrated “Sign in with Worldcoin,” making it available to tens of thousands of applications and online services. Additionally, Talent Protocol became the first web3 platform in Europe to integrate World ID.

Worldcoin’s recent achievements build upon its history of significant milestones. The company emerged as the largest deployer of Safe wallets on the Polygon blockchain, successfully onboarding 1.2 million self-custodial Safe Smart Accounts. Furthermore, Worldcoin saw unprecedented growth in Spain, becoming the country’s largest operating market with more than 20,000 individuals signing up for World ID each month.

According to official, Worldcoin’s rapid growth and its mission to address the global identity verification crisis underscore its potential to revolutionize the way we think about digital identity and access to financial services. With its innovative approach and commitment to inclusivity, Worldcoin is poised to continue making waves in the blockchain and cryptocurrency space.

Ethereum Co-Founder Vitalik Discusses Worldcoin's Biometric Proof of Personhood

Co-founder of Ethereum Vitalik Buterin explored the idea of biometric evidence of personhood, a subject that is gaining popularity in the Ethereum community, in a blog post from July 24, 2023. The article “What do I think about biometric proof of personhood?” examines the possible benefits and difficulties of decentralized proof-of-personhood solutions.

According to Buterin, proof of personhood is a kind of real-world identification that claims a certain registered account is run by a real person, preferably without disclosing whose actual person it is. The “unique-human problem” is addressed by this idea, which has become the subject of various initiatives, including Proof of Humanity, BrightID, Idena, and Circles.

One of the most ambitious projects in this space is Worldcoin, co-founded by Sam Altman, CEO of OpenAI. Worldcoin’s approach to proof of personhood is unique as it relies on sophisticated biometrics, scanning each user’s iris using a specialized hardware called “the Orb”. The goal is to distribute these Orbs globally, making it easy for anyone to get an ID.

Buterin acknowledges the criticisms Worldcoin has faced, including privacy and security concerns around the Orb, design issues in its “coin”, and ethical issues around some choices the company has made. He also discusses the broader concerns about whether biometrics are a good idea at all and the potential risks of proof of personhood in general, such as privacy leaks, coercion by authoritarian governments, and the challenge of maintaining security while being decentralized.

The blog post also explores the importance of proof of personhood, stating that it is valuable because it solves anti-spam and anti-concentration-of-power problems, avoids dependence on centralized authorities, and reveals minimal information. Without proof of personhood, decentralized governance becomes easier to capture by wealthy actors, including hostile governments.

Buterin also discusses the potential applications of proof of personhood, which include airdrops for token distributions, voting in DAOs, protection against bots/sybil attacks in social media, and an alternative to captchas for preventing DoS attacks, among others.

Despite the potential benefits, Buterin acknowledges the challenges that biometric proof-of-personhood systems face, including privacy concerns, accessibility issues, and centralization risks. He also explains Worldcoin’s solutions to these problems, including as its long-term dedication to decentralization, its use of ZK-SNARKs and other cryptographic tools to safeguard users’ anonymity, and its possibility for auditing Orbs to make sure they are constructed appropriately.

In conclusion, Buterin’s paper offers a thorough examination of the idea of biometric evidence of personhood, as well as its possible advantages and drawbacks. It presents a fair viewpoint, taking into account both the necessity for major issues to be addressed as well as the potential for these systems to tackle important problems.

UK's ICO to Investigate OpenAI CEO's Worldcoin Project

The Information Commissioner’s Office (ICO) announced on July 25, 2023, that it plans to initiate an investigation into Worldcoin, a project overseen by OpenAI CEO Sam Altman. The investigation is set to commence shortly after the announcement. ICO is the data regulator in the United Kingdom.

The ICO’s decision to scrutinize Worldcoin comes in the wake of the project’s unique approach to user participation. To be part of Worldcoin, individuals are required to submit iris scans. In return for their participation and the biometric data they provide, participants are rewarded with a digital identity and free cryptocurrency.

Following a successful test period that included two million participants and beginning on July 24, 2023, Worldcoin was introduced to the general public. During the same time period, eyeball scanning activities were extended throughout twenty countries, some of which included locations in London.

According to the market tracker CoinGecko, the value of a Worldcoin token first skyrocketed when it was launched on Monday, reaching a high point of $3.30.

The launch of Worldcoin’s native token, known as WLD, did not include the United States due to concerns over various legislations. As a result, US-based cryptocurrency exchanges such as Coinbase and Kraken did not support it, a decision directly influenced by the prevailing regulatory environment.

Addressing privacy concerns, the Worldcoin Foundation has stated that it adheres to stringent privacy rules and is consistently evaluating local laws and regulations to ensure compliance.

The foundation asserts that it operates in full accordance with all laws and regulations governing the collection and transfer of biometric data, including the General Data Protection Regulation (GDPR) in Europe. This regulation outlines the procedures for data collection from individuals and the channels through which it must be disseminated.

Worldcoin, co-founded by OpenAI CEO Sam Altman, has gained significant exposure as ChatGPT, another project by OpenAI, continues to gain widespread popularity.

The company secured substantial investment in May from prominent firms such as Andreessen Horowitz, Bain Capital Crypto, and Distributed Global, totaling $115 million.

CoinFund: Worldcoin Could Onboard Billions of Users into the Crypto Economy

In a recent blog post by CoinFund, the investment firm detailed its thesis for investing in Worldcoin, a project aiming to solve the identity problem in the crypto economy. The post, authored by Austin Barack and Jake Brukhman, was published on July 23, 2023, and provides an in-depth look at the potential of Worldcoin.

Worldcoin’s mission is to prove human uniqueness in a digital context while maintaining anonymity and privacy. The project has developed a state-of-the-art hardware device, the Worldcoin Orb, which uses iris biometrics to determine human uniqueness. The Orb creates a unique hash from a user’s iris pattern, which is then used to prevent duplicate sign-ups. Importantly, the raw biometric data is permanently deleted after the hash is created, ensuring privacy.

The ability to prove a user’s uniqueness without requiring personally identifiable information has significant implications for digital interactions. For instance, it can enable one-person-one-vote systems in Decentralized Autonomous Organizations (DAOs), prevent the creation of spam social media accounts, and facilitate equitable airdrops in crypto networks.

Worldcoin’s approach also allows for the fair distribution of a network asset on a global scale. With the Worldcoin Orb and World ID, each user can receive approximately equivalent amounts of Worldcoin’s native token (WLD), regardless of when they sign up. This approach aims to incentivize user participation and could potentially bring billions of users to the crypto economy.

As of July 23, 2023, Worldcoin has signed up more than two million users (2,060,888 to be exact). CoinFund, one of Worldcoin’s earliest backers, believes that Worldcoin’s unique approach to proving personhood and distributing network assets could be transformative for global digital coordination and financial inclusion.

However, it’s important to note that CoinFund’s views are not representative of all investors, and potential investors should conduct their own due diligence. The future of Worldcoin, like all crypto projects, is subject to various risks and uncertainties.

In conclusion, Worldcoin’s innovative approach to solving the identity problem in the crypto economy could potentially onboard billions of users to the crypto economy. Its unique proof of personhood and fair distribution of network assets are key innovations that could transform digital interactions and global financial inclusion.

Worldcoin Protocol Undergoes Comprehensive Security Audits

Worldcoin, a blockchain-based protocol that integrates both off-chain and on-chain components, a proof of humanity protocol co-founded by Sam Altman of OpenAI, recently underwent two separate security audits. The audits were conducted by Nethermind and Least Authority, two reputable audit firms, beginning in April 2023. The protocol’s implementation, which includes its use of cryptographic constructs and smart contracts, is detailed in the Worldcoin whitepaper.

Worldcoin publicly launched on July 25, 2023, with the token WLD listed on mainstream crypto exchanges including Binance and Okex. However, the launch was met with immediate criticism. The French data protection agency, CNIL, questioned the legality of Worldcoin. The United Kingdom’s Information Commissioner’s Office (ICO) considered investigating the project for potential violations of the country’s data protection laws.

The audits covered a wide range of areas, including the correctness of the implementation, potential implementation errors, adversarial actions, secure key storage, resistance to DDoS attacks, vulnerabilities in the code, protection against malicious attacks, performance issues, data privacy, and inappropriate permissions.

Nethermind focused on the protocol’s smart contracts, which include the World ID contracts, the World ID state bridge, the World ID example airdrop contracts, the Worldcoin tokens (WLD) grants contracts, and the WLD ERC-20 token contract and its associated vesting wallet. Out of the 26 items identified during this security assessment, 24 (92.6%) were fixed after the verification stage, one was mitigated, and the remaining one was acknowledged.

Least Authority, on the other hand, concentrated on the protocol’s use of cryptography, including its use of the Semaphore protocol and the enhancements made to scale the protocol in a more gas-efficient manner. These include the protocol’s cryptographic design and implementation, the Rust implementation of the semaphore protocol, and the Go implementation of the Semaphore Merkle Tree Batcher (SMTB). The team identified three issues and offered six suggestions, all of which have either been resolved or have planned resolutions.

In their report, Least Authority stated, “We found that the cryptographic component of the Worldcoin Protocol is generally well-designed and implemented.”

Some of the items identified during the audits were due to the protocol’s dependencies on Semaphore and Ethereum, such as elliptic curve precompile support or Poseidon hash function configuration.

Worldcoin aims to establish a proof of personhood that is decentralized, privacy-preserving, open-source, and accessible to everyone. For more information about the project, the Worldcoin whitepaper and related documents are available for review.