World

Worldcoin

Bold

Tools for Humanity CEO Alex Blania recently revealed the primary goals of the Worldcoin project. Blania aimed to scale the project globally by distributing iris-scanning “Orbs” worldwide. The altcoin project is also preparing exciting updates for the next-generation device, which is set to launch in the coming weeks. 
<h2 id="alex-blania-shares-worldcoin-s-key-focus">Alex Blania Shares Worldcoin’s Key Focus</h2> 
Speaking at Korea Blockchain Week 2024 in Seoul, Tools for Humanity CEO Alex Blania outlined the current focus of the Worldcoin project. According to Blania, the priority is to scale the project by distributing “Orbs” worldwide, making the altcoin project more accessible and valuable. In a statement, he said: 
“I think fundamentally, like other networks that have emerged in recent decades, such as PayPal and even social networks like Facebook, they only become useful once they scale. So, at this point, the only thing that matters to us is global distribution and the number of verified users utilizing the service.” 
Worldcoin, backed by Tools for Humanity, a company co-founded by Blania and OpenAI CEO Sam Altman, aims to protect people from the potential negative impacts of artificial intelligence. The project uses Orb devices to scan individuals’ irises, assigning them a “World ID” to prove their humanity. Those who sign up are rewarded with WLD tokens. According to Worldcoin, there are more than 6.5 million verified World IDs across over 160 countries globally. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-43698" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/09/A-futuristic-image-showcasing-Worldcoins-global-ambitions-similar-to-networks-like-Facebook.-The-scene-should-include-the-Worldcoin-Orb-device-used-.webp" alt="Worldcoin's Bold Ambition: Aims to Rival Facebook’s Global Reach! = The Bit Journal" width="1792" height="1024" title="Worldcoin's Bold Ambition: Aims to Rival Facebook’s Global Reach! 50"> 
<h2 id="new-generation-orbs-and-worldcoin-s-strategic-moves">New-Generation Orbs and Worldcoin’s Strategic Moves</h2> 
During his KBW2024 appearance, Blania hinted at exciting upcoming updates for the next-generation Orb devices in the following weeks. He explained, “The only thing I can share for now is that these updates will revolve around operational models. In other words, the way these devices are used, with some fine-tuning that I believe will make them more efficient.” The Worldcoin CEO also mentioned that they are in talks with players from South Korea’s gaming industry to explore potential collaborations. 
As previously reported by The Bit Journal, Worldcoin is also preparing to launch its own Layer-2 network&nbsp;called World Chain. Recently, the project announced partnerships with Hyperlane, Moralis, and other blockchain development firms to simplify the new main net for users. Blania stated, “This is an Optimism super chain&nbsp;similar to Coinbase’s Base. We already have a significant scale in the Optimistic manner, so we transitioned from Polygon and are launching our Layer-2 solution.” 
<h2 id="regulatory-concerns-continue-is-there-a-solution">Regulatory Concerns Continue: Is There a Solution?</h2> 
Worldcoin has faced scrutiny in several jurisdictions, including Colombia, Spain, and South Korea, over concerns that its iris data collection could be a potential privacy violation. In May, Hong Kong authorities ordered Worldcoin to halt its regional operations. Addressing these concerns, Tools for Humanity’s Chief Privacy Officer (CPO) Damien Kieran stated: 
“The technology we’re using is extremely advanced in terms of privacy-enhancing capabilities and requires a lot of education. Current legal frameworks tend to assess these matters standardly, so we’re working closely with regulators to ensure they fully understand what we’re doing. We’ll make any necessary adjustments.”

Worldcoin’s Bold Ambition: Aims to Rival Facebook’s Global Reach!

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