July 24, 2024

‘Landmark Year’ for Worldcoin As Eyeball-Scanning Crypto Project Launches in Singapore

Worldcoin (WLD) has announced its launch in Singapore a week after pausing operations in three other nations.

In a new company blog post, Worldcoin – founded by OpenAI CEO Sam Altman – says that its launch in Singapore will cap off a landmark year for the identity verification protocol.

“Individuals in Singapore can now verify their unique humanness at an Orb in the latest sign of growing global interest in proof of personhood and the Worldcoin project. After the successful launch of World ID 2.0 and the open sourcing of the Worldcoin iris recognition pipeline in mid December, World ID verifications are now available in Singapore via the Orb, the project’s custom hardware device.”

Worldcoin’s Orb is a helmet-shaped peripheral customers use to verify their IDs. To use it, investors have to download the Worldcoin app and a compatible wallet and then visit the Orb to have their eyeballs scanned as a means of verifying their identities.

Worldcoin says it plans to continue expanding access to its protocol, launching in cities across Spain, Germany, Chile, Argentina and Japan.

However, last week, the project paused its services in India, Brazil, and France – which coincided with WLD’s price dip of about 22% at the time – but gave no specific reason why.

Despite this, the project considers 2023 a “landmark year” as the World App passed five million users and 30 million transactions.

“According to TFH, who developed and maintained [the] World App for the Worldcoin project, over five million accounts have now been created – enough to rank it as the 5th most popular hot wallet in the world in 2023 alongside Bitcoin.com wallet, according to CoinGecko.

In addition to downloads, World App monthly active users have climbed to 1.7 million, and total transactions on the app are now more than 30 million.”

WLD is trading for $3.64 at time of writing, a fractional decrease during the last 24 hours.

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