Sam Altman’s Crypto Project Worldcoin Eying Partnership with OpenAI
As the US regulators extended their enforcement action on digital assets, the key industry players are exploring ways to operate compliantly. On Monday, the Tool of Humanity Worldcoin announced plans to partner with Sam Altman-led firm OpenAI.
The tech industrial heavyweight plans to partner to navigate the heightened regulatory scrutiny in the US. The announcement came months after the Worldcoin eye-scanning process was suspended in various jurisdictions.
Worldcoin Seeking to Partners with OpenAI
The Worldcoin collection of biometric data has been suspended in Kenya, Spain and Portugal due to data privacy concerns. Also, the Worldcoin project has been accused of collecting data from minors below the age of 18.
The regulatory action against the Worldcoin has forced the firm to examine ways to operate more compliantly. Initially, the Worldcoin project was launched by Sam Altman to differentiate humans from artificial intelligence (AI) bots.
The process involves scanning people’s eye iris using an advanced tool, Orbs, and issuing a unique digital identity. An Orb is a hardware the Worldcoin team uses to scan people’s irises. Currently, Worldcoin has around 300 to 500 orbs in operation and intends to increase the number in the coming days.
The individual signing up for the Worldcoin project receives a free WLD token. These rewards motivated hundreds to register for the Worldcoin project. The high number of applications caused the global authority to raise a red flag.
Global Regulators Express Concern on Worldcoin Operations
Irrespective of the ban on the Worldcoin project, the Tool of Humanity team is holding talks with the OpenAI team on plans to work together. Under the partnership agreement, the OpenAI team will offer AI solutions to Worldcoin to support its ongoing projects.
Even though the two firms have faced a series of legal charges, the two plan to collaborate to attain a common goal.
Commenting on the proposed partnership, the market critics project that the Worldcoin and OpenAI partnership will attract the regulator’s attention due to the involvement of Sam Altman in both firms.
In an interview with Bloomberg, the chief executive of Tools of Humanity, Alex Blania, argued that the heightened regulatory scrutiny facing Worldcoin was due to the involvement of Mr Altman.
The CEO admitted that the Altman role on Worldcoin surpasses what one can expect for such a project. Blania’s statement created mixed reactions among the crypto community.
Currently, the Worldcoin project ranks among the world’s most active projects, with over two million active users. The Worldcoin project is the leading identity verification service that leverages advanced technologies such as the Internet of Things (IoT) and cryptography to verify humans from bots.
Significance of Worldcoin Partnership with OpenAI
The proposed partnership between the two companies came weeks after OpenAI landed in trouble after closing a partnership deal with Microsoft. The EU antitrust regulatory watchdogs revealed plans to investigate the OpenAI and Microsoft partnership to examine how the collaboration affects the industry competition.
Having gained popularity for developing an innovative chatbot, ChatGPT, the global regulators have been monitoring the operations of OpenAI. A few months ago, X boss Elon Musk filed charges against the OpenAI board members and the CEO for derailing from their core mission.
Elon accused Altman and the OpenAI board of focusing more on maximizing profits than optimising public goods’ delivery. Despite the legal charges facing Altman and the OpenAI, the tech firm has invested heavily in supporting startups at the early growth stage to support the development of AI.
Similarly, the Tools of Humanity team has been exploring ways to expand its operations. Earlier this year, the Worldcoin project launched its blockchain network on an Ethereum-based OP stack to support the verification of humans against bots.
The launch of the layer two network aims to provide the Worldcoin team with the power to control World ID issuance at lower fees. The Worldcoin team plans to launch the new blockchain network this summer.
Before then, the Worldcoin team plans to increase the supply of WLD tokens to 36 million, valued at $196 million. The increase in the supply of WLD tokens aims to meet the high demand for these digital assets.
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