Worldcoin, a project that is developing a new way to verify identities and create a global cryptocurrency, announced on July 13 that it had reached a major milestone of 2 million people signing up for its World ID program.
Worldcoin’s World ID program has seen a significant increase in sign-ups since the deployment of its Orbs devices. These devices make it easy for people to verify their identity using iris scanning technology, and they have helped to make World ID more accessible to people from all over the world.
Worldcoin is preparing to increase availability over the next months to fulfill the growing demand for its Orb devices. The business has disclosed that several other apps, like Auth0 and Talent Protocol from Okta, have started utilizing World ID and Worldcoin for their access protocols.
Its goal is to make global access to digital identity verification possible for everyone. The business’s most recent registrations are a step in the right direction because they occur at a time when more than 4.4 billion individuals globally lack a valid ID or have one that cannot be digitally confirmed. For people attempting to access financial services, this problem can be a substantial obstacle, but Worldcoin thinks that World ID can assist to address this issue.
From 1 million users in January to 2 million users now, Worldcoin’s user base has doubled in the last six months. This development demonstrates the project’s momentum because it also just launched its wallet app and secured $115 million in investment.
Due to the involvement of Sam Altman, the CEO of OpenAI, Worldcoin is receiving a lot of attention. The famous ChatGPT app was developed by OpenAI.
Considering its success and connections to the industry, Worldcoin has come under fire in some circles. Both former Ethereum engineers Hudson Jameson and Peter McCormack, presenter of the Bitcoin podcast, have criticized the project’s objectives and privacy issues.