Worldcoin Aims for Global Scale, Seeking Facebook-Like Impact with New Tech

Worldcoin is aiming to achieve widespread adoption by distributing its iris-scanning Orbs globally, similar to the reach of PayPal and Facebook, according to CEO Alex Blania.

Speaking at Korea Blockchain Week 2024 in Seoul, Blania highlighted that scaling is crucial for Worldcoin’s success.

He drew parallels to networks like PayPal and Facebook, noting that their value increased with their scale. Worldcoin’s primary focus is now on expanding its user base and verifying as many identities as possible.

Founded by Blania and OpenAI’s Sam Altman, Worldcoin provides “World IDs” to users who verify their identities through iris scans with Orb devices. In return, users earn WLD cryptocurrency.

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The project has already issued over 6.5 million World IDs across more than 160 countries.

Blania also mentioned forthcoming updates to the Orb devices, which are set to improve their operational models significantly. Additionally, Worldcoin is exploring partnerships with South Korean gaming firms to bolster its presence in the region.

The company is also gearing up to introduce World Chain, its new Layer-2 network. Collaborating with blockchain firms like Hyperlane and Moralis, Worldcoin aims to enhance the usability of its mainnet, positioning it as an Optimism superchain akin to Coinbase’s Base. Blania emphasized that Worldcoin’s scale necessitates this advanced Layer-2 solution.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.