Sam Altman’s Worldcoin Becomes ‘World Network’ as Project Expands Beyond Initial Vision

Last updated:

October 18, 2024 00:36 EDT

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Last updated:

October 18, 2024 00:36 EDT

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Worldcoin, the crypto project OpenAI CEO Sam Altman co-invented, announced Thursday that it is rebranding to World Network. Alongside the rebranding, the company unveiled several initiatives to expand its initial vision for global identity verification.

Amid scrutiny over its data collection practices, the venture revealed a new iteration of its orb iris-scanning device at an event in San Francisco. The upgraded Orb features 5G connectivity. It delivers nearly five times more AI performance than its predecessor using the latest NVIDIA Jetson chipset, the team said.

The streamlined design is said to reduce complexity with 30% fewer parts. Also, it includes a removable external SD card for easy inspection, addressing data transparency concerns.

World Network Offers Non-Biometric Identity Option

Beyond the Orb, World Network is developing alternative methods for individuals to join its identity project without undergoing an iris scan.

The new World ID 3.0 features World ID Credentials, a way for even more people to participate in & benefit from World Network using things like an NFC-enabled passport. pic.twitter.com/sLGRCEzIiD

— World (@worldcoin) October 17, 2024

One approach enables users to scan their NFC-enabled passports. This allows them to verify their age, nationality, and passport ownership without revealing their full identity. It aims to provide a privacy-conscious option for those hesitant about biometric data collection.

World Network Introduces Third-Party Mini Apps for Enhanced User Experience

Further, World Network said it is responding to the growing threat of deepfakes and digital impersonation. It is integrating its identity verification system into popular communication platforms. Applications such as FaceTime, WhatsApp, and Zoom are among those compatible with the company’s digital ID system.

The project is also updating its mobile app to support “mini apps” from various third-party developers. This update is expected to expand the app’s functionality, offering users a more versatile platform to interact with the World Network ecosystem.

Further, the team announced that the highly anticipated World Chain mainnet is now officially live. World Network described it as the “first blockchain designed specifically to prioritize human activity and transactions.”

In a strategic pivot, the project is reportedly shifting its focus from Europe to Asia. Fabian Bodensteiner, managing director of the project’s European subsidiary, mentioned at a recent Sifted summit that the company is now concentrating on markets where local companies and governments actively embrace new technologies.