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By Shedrach Kongvong
Worldcoin has faced several legal challenges worldwide. Nonetheless, the project remains resolute and ambitious about its growth.
The CEO of Tools for Humanity — the company building Worldcoin — Alex Blania says the project will need to scale like Facebook to effectively reach the global audience.
Blania said this in a group interview during Wednesday’s Korea Blockchain Week 2024 event in Seoul. He stressed that the project’s current priority is to increase the distribution of iris-scanning "Orbs", as Worldcoin can only be useful if massively distributed.
“I think fundamentally, similar to other networks that we have seen emerge over the last couple of decades like Paypal or even social networks like Facebook, they only become useful once they are at scale,” Blania said.
Blania and OpenAI CEO Sam Altman founded Worldcoin and manage it under Tools for Humanity. The project’s unique approach of assigning “World IDs” to users as a proof of humanity has attracted the attention of regulators worldwide.
Jurisdictions including Columbia, Spain, and South Korea have shown concern over the project’s collection of iris data as a potential breach of privacy. Others like Hong Kong have ordered Worldcoin to cease local operations, but the founders say Worldcoin protects users from the bad impacts of AI.
The project only has over 6.5 million verified World IDs across more than 160 countries around the world. This means it has much grounds to cover in its distribution target, as Facebook has nearly 3 billion monthly users.
New Updates on Worldcoin
Concerning future plans for Worldcoin, Blania said the project will announce new and “exciting updates” on a “next generation” Orb device in the coming weeks. He further stated that the project is in talks with players in the South Korean gaming industry for possible collaborations to explore gaming.
A more interesting update is that Worldcoin is also working on the launch of its own Layer-2 network, World Chain, which will make Worldcoin easier to use. The launch will be in collaboration with top blockchain firms like Hyperlane, Moralis and others.
“It’s an Optimism super-chain, similar to Coinbase’s Base,” Blania said. “And the reason [for launch] is that we already have too much scale for Optimism mainnet. So we went from Polygon to Optimism mainnet and are launching our Layer 2,” he added.
Author Bio
Shedrach is a big fan of crypto and blockchain technology. He has been in the industry since 2018 as a writer and user of crypto. You can reach him at shedrach@shediwrites.com. He also writes about writing on his website Shediwrites.com.
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