[NEWS] WorldCoin developer seeks partnership with OpenAI and PayPal

It has been revealed that TFH (Tool For Humanity), the developer of the cryptocurrency WorldCoin (WLD), is exploring partnerships with OpenAI and major payment company PayPal. Bloomberg reported on the 25th.

TFH seems to be focusing on creating synergies by partnering with major AI and payment companies.

Although the Bloomberg report did not go into details, Blania said, "There are some natural things about how we will work together and how we will work together in the future, but we are not ready to announce anything yet." He is currently in discussions with TFH and OpenAI, but has not yet launched any concrete plans.

About WorldCoin

TFH was co-founded in 2020 by Sam Altman of OpenAI and Alex Blania, an authority on quantum information science and machine learning.

WorldCoin aims to realize basic income and was launched as a project to enable personal authentication, which is becoming more complicated with the development of AI. It says it will enable individuals and businesses around the world to seamlessly participate in the global economy and shape their own economic futures.

WorldCoin is unique in that it has a "World ID" that is generated by reading the iris of the eye with a device called Orb. This allows users to access apps and other services without having to disclose personal information.

WorldCoin's native token, WLD, is intended to be used as a payment tool, such as for payments and remittances in apps developed and operated by TFH.

Meanwhile, WorldCoin has been suspended from operating in various countries around the world, including Kenya, Spain, and Portugal. Regulators have raised concerns about WorldCoin's use of personal data obtained by iris scanning as a data collection method.

Announcement of unique layer 2 "World Chain"

WorldCoin announced this month that it will introduce its own layer 2 blockchain, "World Chain," to improve the efficiency of new user registration. It explains that this is intended to support 1 billion users, 100 times the 10 million users currently serving the service.

According to the announcement, users who do not have a World ID can also use it. On the other hand, they will prioritize transactions by World ID holders, and will also provide benefits such as free gas fees (transaction fees).

The system is scheduled to be introduced this summer, with detailed dates to be announced at a later date.

Reference: Press
Image: Shutterstock

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