On Monday, Worldcoin Foundation and its partner Tools for Humanity launched the Worldcoin Protocol on Optimism Mainnet. On top of that, the project’s native token, WLD, was also rolled out.
The Worldcoin Protocol has been in the beta stage for quite some time. Tools for Humanity’s head of product Tiago Sada said he was happy the project had finally launched.
The protocol’s World ID system is now available in over 70 countries. The Worldcoin Foundation said it would increase the figure to 120 before the year ends.
Further, Sada revealed that the biometric verification devices, known as Orbs, are only 200, currently located in Dubai, Miami, London, Mexico City, San Francisco, and Berlin. He, however, said the number could jump to 1,500 by December.
Privacy Advocate Criticizes Orbs Technology
Designed by Tools for Humanity, Orbs let people prove they are real. Whoever completes the exercise earns WLD tokens and a World ID. But the technology has been protested by a section of crypto players. For example, privacy advocate Edward Snowden recently said the biometric data obtained by the Orbs could easily be stolen and sold online. However, the Worldcoin Foundation has defended itself numerously, saying it has put enough security measures to protect people’s data.
It is important to mention that Tools for Humanity has availed a Software Development Kit to enable developers to build mobile and web applications on the Worldcoin Protocol. Additionally, the firm says beta participants who received WLD tokens can now use them for transactions.
What’s Worldcoin Foundation?
Co-founded by Alex Blania, Max Novendstern, and Sam Altman in 2019, the Worldcoin Foundation aims to boost economic participation through its newly launched protocol. The organization has so far raised $210 million from prominent investors like a16z and Blockchain Capital.
The Worldcoin Foundation is the governing body for the entire Worldcoin ecosystem, which includes the World App, the Worldcoin Orbs, the WLD token, and the World ID.
Meanwhile, Tools for Humanity is optimistic that Worldcoin will help bank the unbanked by providing financial services to the billions of people that lack access to these services.
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