Sam Altman’s Worldcoin Wobbles as World Chain Launches – Here’s Why You Should Be Watching
A journalist and copywriter with a decade's experience across music, video games, finance and tech.
OpenAI founder Sam Altman’s blockchain project, Worldcoin ($WLD), launched its own blockchain, World Chain, last Thursday. However, the announcement has had little impact on the token’s performance.
Currently, Worldcoin has dropped by 3% in the last 24 hours, trading at $2.33.
Over the past week, the token has only risen by 0.8%, indicating a lackluster response to the recent news.
Worldcoin’s losses come as market leader Bitcoin ($BTC) remains virtually unchanged in the last 24 hours.
The world’s favorite cryptocurrency rose 5.3% over the last week to trade at $68,194.
Worldcoin launched with an ambitious premise to bank the world’s unbanked.
Anyone who wants some $WLD tokens has to visit a biometric eyeball scanner called the ”Orb” (found in several major cities worldwide) and submit a snapshot of their eyeballs.
The protocol then uses the data alongside verification of government-issued ID to confirm a user’s personhood before distributing coins to them.
But many are worried, including Ethereum creator Vitalik Buterin who wrote a blog post listing his concerns of the protocol’s privacy, accessibility, centralization and security and said it could take years for it to work.
Lawmakers in Mexico, Malaysia and Argentina have aired similar concerns.
With the launch of World Chain, Worldcoin’s 15 million verified users have come on chain.
Worldcoin’s Proof-of-Personhood protocol is that it cultivates a blockchain where transacting is done by humans, not by bots, which could arguably improve chain security.
According to the price chart, Worldcoin rose close to 50% in the last month alone and is now challenging a $3 resistance level
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