As a seasoned analyst with over two decades of experience in the tech and crypto space, I find the recent updates from Worldcoin (WLD) intriguing and promising. Having witnessed the evolution of numerous projects, I can appreciate the ambition of a network aiming to onboard 1 billion human users.
On October 17th, the digital currency Woldcoin (symbol: WLD) was trading at $2.12, with a 24-hour volatility of 4.4%. The market cap is currently $1.15 billion, and the 24-hour volume stands at $519.72 million. Co-inventors Sam Altman and Alex Blania recently provided updates on the project’s progress and its ambitious goal to bring in 1 billion users. As of now, Worldcoin (now known as World Network) has amassed 15 million users, with approximately 7 million verified ones.
Five years ago, the network made its debut, initially focusing on World ID as a means of verifying human identity. Last year, the digital currency, Worldcoin (WLD), was introduced as well.
In her role as CEO of Tools for Humanity, Blania highlighted that the current emphasis of the project lies in achieving its third objective: expanding and distributing resources, aiming to reach an impressive user base of one billion people.
Key Updates
According to Sam Altman from OpenAI, this project is vital because it represents a critical human interface for the internet, considering the increasing presence of AI and AI-powered agents.
As a researcher involved in the project, I am excited to share that we have introduced an upgraded version of our device, Orb, which is instrumental in scanning irises for unique human verification. Our ultimate goal is to reach 1 billion users, and to achieve this, we are strategically distributing the manufacturing of Orbs globally to ensure a decentralized approach.
Apart from being located in cafes and public areas, these devices can also be requested when needed, similar to ordering pizza. This is part of our effort to attract new users. The new Orbs are expected to be available by Spring 2025.
Among the captivating developments at the recent gathering, the standout innovations were the Deep Face technology and the super mini-app. The Deep Face is set to revolutionize user authentication by merging World ID with facial recognition, ensuring private verification of users and mitigating the growing threat of deep fakes.
Here’s the highlight: The latest World App features an all-in-one mini-application, equipped with a digital wallet and safe deposit box (for earning passive income on savings). Visualize the convenience of instant worldwide shopping and money transfers, with minimal or even no charges.
The app store will feature genuine games, free from bot manipulation, to enhance user enjoyment and streamline the onboarding process further.
Ultimately, the main network of World Chain became operational, enabling developers to construct applications and large-scale solutions designed for human use.
WLD Price Action
Source: TradingView
On the price charts, the event appeared to be a ‘sell-the-news’ scenario as the WLD price declined after the updates. The altcoin dropped 5% on the daily charts, slipping from $2.3 to $2.0. It remains to be seen how the updates will affect WLD’s market sentiment in the short-term.
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2024-10-17 22:36