Worldcoin Has an Orb Shortage

Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, is experiencing rapid growth that outpaces its supply of its “Orbs.”

Orbs are specialized devices that are central to the Worldcoin project. They scan a person’s iris to ensure they are a unique human, preventing fraud. This scan is how an individual gets registered on the digital ID platform, and gains access to cryptocurrency Worldcoins. Strong demand has led to logistical challenges and prompted Worldcoin to increase Orb production.

The project’s success is evident in its user base of more than 10 million across 160 countries. Despite initial criticism for its biometric approach, the enthusiastic adoption indicates a shift toward acceptance of Worldcoin’s potentially disruptive concept. The value of the Worldcoin cryptocurrency, at $4.80 at the time of writing, further underscores its growing significance.

Worldcoin’s open-source technology has fostered a positive reception within the crypto industry. Meanwhile, its forthcoming blockchain built on Ethereum will reportedly allow for free transactions using World ID verification, promoting wider accessibility.

While facing logistical challenges due to overwhelming demand and regulatory hurdles in certain countries, the company is scaling up orb production to meet global interest, reports Semafor. Worldcoin’s founders envision it as a tool to provide universal basic income amid AI advancements, while also offering a way to prove human identity in an online world increasingly populated by AI creations.

Although concerns regarding biometric data persist, the potential benefits of Worldcoin are becoming evident in its ability to empower individuals in less developed economies. The future of the project is uncertain but undeniably intriguing as it navigates the complexities of mass adoption and regulatory scrutiny.

Source: Semafor

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April 25, 2024 — by Ali Nassar-Smith