- Worldcoin aims on worldwide scaling using iris-scanning Orbs and new gadget updates.
- The initiative will launch a Layer-2 network and address regulatory issues.
As an experienced crypto investor with a keen eye for innovative projects, I find myself intrigued by Worldcoin’s ambitious endeavors. Having witnessed the meteoric rise of networks like PayPal and Facebook, it’s fascinating to see a new player aiming for similar global adoption.
During the Korea Blockchain Week 2024, Alex Blania, CEO of Tools for Humanity, shared Worldcoin’s ambitious plans to expand its iris-scanning technology across the globe. The primary aim of this company is to disseminate their “Orbs” globally, which use iris scans to authenticate users and protect them from potential AI risks.
Blania explained that Worldcoin aims for broad acceptance, much like the expansion of networks such as PayPal and Facebook have demonstrated. Currently, Worldcoin has issued over 6.5 million IDs across more than 160 countries. In the upcoming weeks, they are planning to unveil the next-generation Orb devices, boasting enhanced operational strategies.
Advancements and New Developments
Besides expanding its hardware, Worldcoin (WLD) is also working on setting up its Layer-2 network called WorldChain. Similar to Coinbase’s Base, this additional network aims to offer more scalability than the existing Optimism mainnet. Moreover, partnerships with Hyperlane and Moralis have been established to smooth the transition to the new mainnet.
Worldcoin is vigilantly addressing regulatory issues as their technology undergoes examination in various locations, such as Hong Kong and South Korea, due to privacy concerns regarding the collection of iris data. The company emphasizes its dedication to privacy and ongoing dialogues with regulators to adhere to existing legal frameworks and maintain compliance.
Blania hinted at major modifications for Worldcoin’s Orb devices, designed to enhance operational efficiency and effectiveness. The company is also considering partnerships with South Korean game firms and gearing up to introduce World Chain, its Layer-2 network. Through collaborations with Hyperlane and Moralis, World Chain will boost the user-friendliness of Worldcoin’s mainnet, outshining current competitors such as Optimism in terms of performance.
Worldcoin’s emphasis on expansion and innovation stems from their ambition to make their technology accessible to as many people as the popular social media networks and financial platforms.
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2024-09-06 18:21