[NEWS]Sam Altman-led WorldCoin to rebrand as "World Network"

WorldCoin, a project launched by Sam Altman, co-founder and CEO of OpenAI, announced a rebranding on the 18th. The new name is "World Network."

The announcement was made by Altman and Alex Blania, co-founder and CEO of World Network.

Blania also announced the latest model of "Orb," a biometric eye scanner that reads the iris of the eye to verify identity. Orb uses NVIDIA's Jetson chipset and will be provided to users as needed.

In addition to the rebranding, the company also revealed that it has launched its own layer-2 blockchain, "World Chain."

World Network Chief Device Officer Rich Heley said, "Access to Orb is on-demand and will be provided as easily as ordering a pizza."

The company said in a statement, "These advances will enable us to provide a new way to provide human authentication proof of World ID in more places around the world."

According to the World Network website, about 7 million people have issued World IDs through Orb so far. By issuing a World ID, you can perform more secure identity verification and receive WLD, a unique cryptocurrency.

Aiming to realize basic income through Web 3.0

There are movements to regulate iris scans in Africa and Europe, but Altman remains committed to realizing his techno utopia.

World Network is a project launched with the aim of realizing basic income through Web 3.0. The iris, a unique ID, proves the person's authentication and also reveals that they are human.

The project is also backed by the rapidly advancing AI. Advances in AI technology have raised concerns that identity verification will be broken in conventional systems. In light of this situation, the company used technology that enables identity verification using the iris, which functions as a unique ID like a fingerprint.

On the other hand, there are concerns about privacy protection regarding identity verification using irises, and several countries and regions are moving to impose restrictions.

In this announcement, World Network stated that "the name 'World Coin' no longer fully complements the project," and is looking forward to expanding the project. However, with regulatory trends in each country unclear, there are also unknown aspects to the expansion of World Network.

Reference: Announcement
Image: Shutterstock

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