Worldcoin announces the rebranding of the project to World, and the launch of the World Chain Layer-2 blockchain.
Worldcoin rebrands to World
In the early morning of October 17, the Worldcoin iris scanning project officially rebranded its brand to World Network, or simply World.
Hello World pic.twitter.com/VIfL0wONbu
— World (@worldcoin) October 17, 2024
The founder of World Network and CEO of OpenAI Sam Altman shared that the old name Worldcoin no longer reflects the scale and vision of the project. World Network will focus on three key elements including World Chain, World ID and Worldcoin, with the ultimate goal of building a network to distinguish between humans and AI-driven agents such as chatbots and virtual assistants.
With over 10 million registered users in 160 countries, World Network has attracted significant attention from the community. Of these, 7 million people have verified their identity through the World ID digital identity system, a solution that allows users to prove their "personhood" by providing biometric data through the Orb scanner.
However, this initiative has also faced numerous legal obstacles, attracting investigations in many countries, including Kenya, India, Brazil, France, Germany, the UK, Hong Kong... Recently, South Korea also fined World Network over $830,000 for violating data privacy.
In addition, World Network also introduced the Layer-2 called World Chain with the participation of major partners such as Alchemy and Dune.
World Chain is touted as a "humans-only" community, where only verified users with World ID can participate. This solution will allow verified users (individuals with World ID) to enjoy benefits during transactions and limit attacks by profit-seeking bots.
The WLD price did not react positively immediately after the news was announced, even dropping 6% before the information was released. At the time of writing, the WLD price is fluctuating around $2.12, down 5.48% in the last 24 hours.
4-hour chart of the WLD/USDT pair on the Binance exchange at 07:30 AM on October 17, 2024
Compiled by Coin68
Join the discussion on the hottest DeFi issues in the Fomo Sapiens chat group with the Coin68 admins!!!
