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Worldcoin’s digital ID-linked cryptocurrency hits the markets

Worldcoin’s digital ID-linked cryptocurrency hits the markets
 

A new cryptocurrency launch does not generally interest people in digital identity, but Worldcoin’s token is part of a platform that also offers proof of humanity and online authentication. The company is now inviting users to register for the “upcoming Worldcoin distribution.”

A brief post by Worldcoin Co-founders Sam Altman and Alex Blania invites people to download the World App, which supports the protocol, after which they can register their interest in the distribution of the “WLD” digital currency. To receive it, they must also receive a World ID by completing identity verification with their iris biometrics collected for de-duplication by one of the company’s Orb devices.

There are Orbs operating in 35 cities across 20 countries currently, according to Reuters. Tiago Sada of Tools for Humanity, which develops technology for Worldcoin, explained how biometric scans with the Orb back the digital ID and cryptocurrency in an interview with Biometric Update earlier this year.

The webpage for claims refers to the token as $WRC, and says it will be distributed by AirDrops to digital wallets. MetaMask, Coinbase, Trust Wallet, Binance Wallet, and WalletConnect are listed as options to connect to Worldcoin for the distribution.

The token started trading at $0.15 on Binance, peaked at $5.29 and was trading at $2.49 early Monday morning, Reuters notes. In addition to distribution of the cryptocurrency and online authentication, the platform is intended to be able to support disbursement of universal basic income in the future.

Whatever their symbol, Worldcoins are not available in the U.S., due to regulatory restrictions.

Worldcoin just launched its SDK to allow developers to build applications using its digital ID, and passed 2 million World ID signups.

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