Worldcoin's Rising Popularity: One Person Verified Every 8 Seconds!

Worldcoin's Rising Popularity: One Person Verified Every 8 Seconds!

Worldcoin, the groundbreaking digital ID passport, and universal basic income initiative, is gaining widespread traction as thousands of people eagerly sign up for registration. Sam Altman, the co-founder of the project, proclaims that an astounding one person is being verified through the innovative iris scanning devices, known as the "Orb," every 8 seconds. This remarkable surge in adaptation is an inspiring testament to the project's vision, though some data has sparked debate over its true impact.

Universal Basic Income Project Gains Momentum Amid Global Interest

The ambitious Worldcoin project, with its goal of establishing a decentralized digital ID that incorporates a Sybil-proof Universal Basic Income (UBI) system, is catching the imagination of numerous potential users worldwide. 

After more than three years of intensive development, the project was officially launched on July 24 and is now rapidly expanding its presence across different regions. Fascinating images of the iris-scanning devices, "Orbs" in use, have surfaced on Worldcoin's social media sites, offering confirmation of their adaptation in cities like Lisbon, Miami, and Los Angeles. However, the World App is yet to be available in the US due to the absence of regulatory clarity.

Sam Altman, the CEO of OpenAI and co-founder of Worldcoin, took to social media to share a video showcasing users queuing up to verify their identities by using the Orb, marking an impressive milestone where one person is verified every 8 seconds. 

Thousands are Signing Up for WLD, But the Data Raises Questions

The enthusiastic response and overwhelming demand have prompted Worldcoin to offer users the option to reserve their genesis airdrop of 25 WLD, the native token of the protocol while allowing verification to occur at a later stage. However, recent reports do not support the actual demand that is being hyped by the Worldcoin team. The South China Morning Post (SCMP) article reveals that only a few hundred participants registered in Hong Kong on Monday and Tuesday.

Despite Worldcoin's announcement of reaching 2 million sign-ups on July 13, the data reflects that only around 13% of these users currently hold WLD tokens on the Optimism network. According to Etherscan, the protocol's token is owned by less than 270,000 participants, a far cry from the 2 billion people mentioned by Altman as his goal. 

While the initial weeks are critical for the project due to liquidity distribution among market makers, the airdrop's value hovers around USD 50 and is expected to maintain that range for the next three months, as noted by blockchain research company Kaiko.

What is your take on Worldcoin and its announced adaptation? Please share your thoughts and opinions in the comments section below.