Tools for Humanity, the company behind Sam Altman's iris-scanning project WorldCoin, has hinted that it may soon partner with major technology and financial companies, according to Bloomberg.
Alex Blania, CEO of Tools for Humanity, said of the potential partnership with OpenAI, “It's a natural progression as to how we work together and how we will work together in the future. “There are, but we are not at a stage where we can announce them yet.” Branier added that the company has had “discussions” with PayPal, but no “concrete” progress has been made.
A spokesperson for Tools for Humanity said: luck: “We have nothing further to share at this time.” Both PayPal and OpenAI immediately responded to requests for comment.
This is not WorldCoin's first partnership with a major technology company. Last year, the company partnered with cybersecurity firm Okta to build a “Sign in with Worldcoin” authentication service, according to Bloomberg. Developers say the service can be used as an alternative to, or in addition to, similar tools from Apple and Google.
Three Arrows participated in Tools for Humanity's $25 million funding round in October 2021, valuing the company at $1 billion, according to data from funding tracking firm Dealroom. FTX co-founder Sam Bankman Fried was also an early investor.
What is World Coin?
According to its website, WorldCoin is a “free, privacy-preserving, open protocol that aims to be the world's largest identity and financial public network.”
The company hopes to authenticate a person's “humanity” in the age of bots and deepfakes by instructing users to stare into an orb, which converts a person's biometric image into a cryptic string of numbers. do. This code, when combined with an algorithm, verifies an individual as a unique human being and provides confirmation via the user's World ID stored in her World App. As a reward for scanning, the user can airdrop her Worldcoin tokens. The Worldcoin token currently costs around $5.
“Right now, it's not a question of whether you have proof of identity. The question is whether it's open source, decentralized, and private.” Tiago, Product Director at Tools for Humanity Sada previously said: luck.
However, Orbs have been banned in various European countries due to data collection concerns. Germany is the only market where WorldCoin can currently collect biometrics. Additionally, some have noted how Altman, co-founder and chairman of Tools for Humanity, is selling solutions to problems that are being accelerated by his other company, his OpenAI.
The rate of new interest in the plan remains uncertain, as WorldCoin token's market capitalization has nearly halved in the last month to about $942 million, according to CoinGecko data.
The Worldcoin Foundation, the company behind Worldcoin, last week announced World Chain, a permissionless open source layer 2 scheduled for release in mid-2024, with the aim of increasing adoption. Blockchain will be deeply intertwined with the WorldCoin protocol, giving preferential treatment to users with World IDs.
