Worldcoin (WLD) is set to debut in Singapore, just seven days after temporarily halting its activities in three other countries.
In a recent blog post, Worldcoin, which was founded by Sam Altman, the CEO of OpenAI, highlights that the company's entry into the Singapore market marks a significant milestone for their identity verification protocol, wrapping up an eventful year.
"Individuals in Singapore can now verify their unique humanness at an Orb in the latest sign of growing global interest in proof of personhood and the Worldcoin project. After the successful launch of World ID 2.0 and the open sourcing of the Worldcoin iris recognition pipeline in mid December, World ID verifications are now available in Singapore via the Orb, the project’s custom hardware device.”
Worldcoin has developed a helmet-shaped device called the Orb, which serves as a peripheral for customers to authenticate their IDs. To utilize it, investors must first download the Worldcoin app and a compatible wallet. Subsequently, they need to visit the Orb where their eye scans are conducted to confirm their identities.
Worldcoin has expressed its intention to further extend the accessibility of its protocol by entering various cities in Spain, Germany, Chile, Argentina, and Japan.
Last week, Worldcoin temporarily halted its operations in India, Brazil, and France, which coincided with a 22% decrease in the price of WLD. However, the company did not provide a specific reason for the suspension of services in those countries.
Despite the recent challenges, the project views 2023 as a significant year, with the World App surpassing five million users and facilitating 30 million transactions.
"According to TFH, who developed and maintained [the] World App for the Worldcoin project, over five million accounts have now been created – enough to rank it as the 5th most popular hot wallet in the world in 2023 alongside Bitcoin.com wallet, according to CoinGecko.
In addition to downloads, World App monthly active users have climbed to 1.7 million, and total transactions on the app are now more than 30 million.”
As of the time of writing, the trading value of WLD stands at $3.64, showing a slight decrease over the past 24 hours.
Bernice
