Benzinga - Sam Altman, co-creator of the identity-centric crypto initiative Worldcoin (CRYPTO: WLD), is highlighting several major operational hurdles the project is facing.
Altman, who also helms OpenAI, the organization behind ChatGPT, speaking on a panel at Token 2049 in Singapore said, “The operational challenges are obviously huge [when] you think about what it takes to get these orbs manufactured.”
He further touched upon the initial apprehension some individuals exhibit towards biometrics, stating, “The other [challenge] is, of course, overcoming that kind of biometrics resistance — for lack of a better word — that some people feel when they first hear about the product,” The Block reported.
However, he remains optimistic, noting that both issues are "trending well."
These challenges and the future of digital assets are set to feature prominently at Benzinga's Future of Digital Assets conference on Nov. 14 in NYC.
Launched on July 24, 2023, Worldcoin's unique proposition allows users to authenticate their identity online using an iris scan, earning them a World ID.
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The project has since set up its "orbs" in numerous cities, with a significant presence in the Global South.
Alex Blania, Worldcoin's co-founder, shared insights into the project's rapid expansion.
“We had a really crazy, crazy surge in the weeks after launch,” he said, emphasizing the overwhelming response with "long, long lines of people waiting to set up pretty much everywhere."
Blania mentioned the team's focus on scaling and their ongoing dialogues with global policymakers.
Despite its success, the project hasn't been without its critics, especially concerning data privacy.
Addressing these concerns, Blania said, “Your data is deleted. You actually stay completely anonymous, which is a very, very powerful thing, given I do believe that we have to figure this out globally — some kind of verification mechanism on the Internet. And I think World ID is a chance to do that in a really, truly privacy-preserving way.”
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