Sam Altman Presents A Whole New ‘World’ as Worldcoin Rebrands with Layer-2 Network and New Identity Verification Features

A New Chapter for Worldcoin: Rebranding to ‘World’

Worldcoin has shed its former identity in a bold rebranding initiative that positions it as "World Network" or “World.”

Co-founder Sam Altman, who also leads OpenAI, announced the change during a keynote address on 17 October 2024 in San Francisco.

This transformation aligns with the project's expanded vision of creating “a network of real, verified humans,” moving beyond its initial cryptocurrency focus to encompass broader identity verification and artificial intelligence services.

In a recent release, World emphasised that the name "Worldcoin" no longer encapsulated the project's broader goals, stating,

“As the scale of the project grows along with the importance of World ID’s proof of human protocol, the name ‘Worldcoin’ no longer encapsulates the mission of the project, to accelerate every human.”

What’s New in the World Network?

At the heart of this transformation lies World Chain, a Layer 2 blockchain secured by Ethereum that has now officially launched on the mainnet.

Major industry players, including Optimism, Alchemy, Uniswap, Safe, Dune, and Etherscan, are backing this new blockchain initiative.

This network aims to prioritise onboarding verified human users over bots, allowing them access to block space while offering a complimentary gas allowance to encourage participation.

A key feature of this rebrand is the introduction of the new and improved Orb device, which scans users' irises for verification.

Now boasting Nvidia hardware, the updated Orb is reported to be five times more powerful and efficient than its predecessor, all while being more compact.

Altman highlighted,

“The new Orb will soon pop up in self-service kiosks,” expanding the accessibility of identity verification services.

These kiosks will allow users to undergo biometric verification with greater ease, reinforcing the project's commitment to accessibility.

Revolutionise Identity Verification

World also revealed updates to the World App, now in its third iteration, which includes the new World ID Deep Face feature aimed at detecting and blocking deepfakes.

This software can verify whether videos featuring authenticated individuals are real or AI-generated, representing a crucial advancement in distinguishing between human and artificial content in today’s digital landscape.

It can be integrated into any app that supports video uploads or live streams, including popular platforms like WhatsApp, FaceTime, and Zoom, allowing users to seamlessly verify their identities while accessing World’s services.

To expand identity verification beyond the Orb, World has launched the World ID Credentials program.

This initiative allows users to confirm their identities using NFC-enabled government-issued passports, offering a flexible and accessible alternative that eliminates the need for a biometric device.

A New Identity for Artificial Intelligence

World's vision revolves around a future where distinguishing between humans and AI is a daunting task.

The organisation intends to provide human verification services that are intrinsically linked to blockchain technology.

With the aim of democratising the benefits of artificial intelligence, World strives to distribute the wealth generated by AI via Worldcoins, paving the way for a more equitable future.

Despite the excitement surrounding the rebranding, the project faces scrutiny from various government bodies, including those in Kenya and several EU nations.

Concerns over privacy, security, and financial implications have prompted investigations, particularly after South Korea's Personal Information Protection Commission imposed a hefty fine of KRW 1.1 billion on the Worldcoin Foundation and Tools For Humanity.

Investigations commenced after users raised alarms about potential biometric data collection practices tied to token offerings.

Scaling Up: How Will World Achieve Its Goals?

During the event, Alex Blania, CEO of Tools for Humanity, laid out a four-step roadmap focused on scaling up the project.

Alex Blania sharing the four-step roadmap ‘to build a human network’.

With the initial phases of developing the Orb and constructing a blockchain-based network complete, the next step is to massively increase the number of verified users, which currently stands at seven million.

Blania confirmed,

“We aim for far more.”

To facilitate this ambitious goal, Tools for Humanity is ramping up the production of the next-generation Orb, making it faster and more efficient for widespread use.

Additionally, the company has partnered with Rappi, a popular delivery service in Latin America, to enable home verifications, allowing for even greater accessibility for users.

Will Users Embrace This New Vision?

While the rebrand and new initiatives have generated considerable buzz, trust remains a significant hurdle for World.

Attendees at the recent event were required to present government-issued IDs for verification, raising concerns about how comfortable potential users will be sharing their personal information with a company closely linked to Altman, especially in light of recent controversies surrounding his leadership at OpenAI.

Although the launch and technological advancements have sparked excitement, the market response was lukewarm, with the price of Worldcoin (WLD) slipping 1.5% to $2.19.

Nevertheless, the token has experienced a substantial increase of over 46% in the past month, indicating that while some concerns remain, there is still considerable optimism about the project's future trajectory.

As World embarks on this ambitious journey, the real test lies in its ability to establish user trust and navigate the regulatory challenges it faces, all while striving to blend the realms of AI, blockchain, and identity verification on a global scale.