At an event held this Thursday in San Francisco, California, representatives of Worldcoin announced a significant change in the brand. Worldcoin will now be renamed “World”. The event was also the platform for the launch of “Orb 2.0”, a second generation of iris scanners which have been distributed in more than 160 countries. The new device, according to World executives, is faster, built with fewer parts, and equipped with better chips, in addition to running on open source code. Rich Heley, lead designer of World, expressed the need to dramatically expand the scanner network, mentioning: “We need more orbs, many more orbs, probably on the order of 1,000 more orbs than we have today. “Not just more orbs, but more orbs in more places.” Currently, there are 843 active orbs, and the project has registered 6.9 million users, with 242,000 new accounts created in the last week aloneaccording to World's own data. World is not only looking to increase the number of orbs but also their location and availability. The company is launching “premium verification experiences” in Buenos Aires and Mexico City, and plans to locate orbs in everyday places like coffee shops. In addition, Heley announced that people will be able to order orbs at home “like a pizza” through the official application, CoinDesk reports. Following the announcement, the market reacted downward, with the WLD token losing 5.30% in the last 24 hours, standing at USD 2.12 for each asset, according to data provided by TradingView.
Following the announcement, Worldcoin reacted lower. Source: TradingView. World's long-term goal is to develop an identity verification system that allows people to prove their humanity anonymously online. This system has already begun to materialize by distributing WLD tokens and issuing unique IDs to users who undergo scans. However, Worldcoin has been one of the most controversial projects in the cryptocurrency space due to its method of collecting biometric data. He has faced criticism and regulation in several countries, including expulsions from Spain, Portugal, South Korea and Kenya, and has been the subject of lawsuits and fines. For example, recently the authorities of the Province of Buenos Aires, in Argentina, fined Worldcoin $200,000 due to allegations of mishandling personal data, as reported by BitcoinDynamic.
This article was created using artificial intelligence and edited by a human Editor.