TL;DR
- Worldcoin’s native token, WLD, has experienced an impressive increase of 207% in value in just one week.
- The wallet application, “World App,” has surpassed the milestone of one million daily users.
- Investigations into the use of “Orbs” and the safeguarding of users’ private information are ongoing in various jurisdictions.
The recent success of Worldcoin has caught the attention of the crypto world. The native token of this project, WLD, has experienced an impressive increase of 207% in value in just one week, reaching $7.77 per token. This increase coincides with a historic milestone for the platform: its wallet application, known as “World App,” has surpassed the mark of one million daily users.
Worldcoin, a project co-founded by Sam Altman, CEO of OpenAI, and Alex Blania, presents itself as an initiative that seeks to combine digital identity verification with the distribution of a universal basic income (UBI). Its focus is on paying users in its native cryptocurrency, WLD, in exchange for scanning their irises. However, this model is not without controversy and regulatory challenges.
World App, the first wallet built for the Worldcoin project, passed 1M daily users this week. This community is incredible 🫡 pic.twitter.com/Mf6Y51gscQ
— Worldcoin (@worldcoin) February 17, 2024
The main concern focuses on user privacy and the security of their personal data. The implementation of iris scanning devices, dubbed “Orbs,” has sparked criticism and led to regulatory investigations in different jurisdictions. For example, the Office of the Privacy Commissioner for Personal Data in Hong Kong has initiated an investigation into Worldcoin’s local operations, citing “serious risks to personal data privacy.”
Despite Controversies Over User Information, Worldcoin is Growing at a Rapid Pace
Despite these controversies, Worldcoin’s success shows no signs of slowing down. The platform continues to attract new users to its wallet, reflecting significant growth in its user base. Additionally, the price of the WLD token continues to rise, indicating strong investor interest in this project.
In parallel with Worldcoin’s rise, parent company OpenAI has announced significant advances in other areas. For example, they recently introduced Sora, a text-to-video generator that allows users to create video clips and scenes from simple text prompts. Additionally, Sam Altman has revealed ambitious plans to raise funds to finance the development and scalability of semiconductor chips.
Worldcoin’s success is undeniable, but its path to widespread adoption is not without challenges. As it continues to expand, it will be essential to address concerns about privacy and data security to maintain users’ trust and continue progressing toward its goal of providing universal basic income worldwide
