Worldcoin has officially rebranded itself as World. This change, announced by co-founder Sam Altman on October 17, 2024, marks a new chapter for the digital identity project that aims to revolutionize how we verify human identity using biometric data.
Alongside this rebranding, World introduced several major updates, including a revamped version of its iris-scanning device, the Orb, and a new blockchain network called World Chain.
Why the name change to World?
The decision to transition from “Worldcoin” to “World” stems from the realization that the original name no longer encapsulated the project’s mission. Altman stated that the new name reflects a broader goal: “to accelerate every human.”
This rebranding comes at a time when Worldcoin has faced scrutiny for its ambitious user onboarding targets—initially aiming for one billion users by the end of 2023 but only managing around 15 million sign-ups, which is still 98.5% short of its goal.
Key features of the rebranding
The new Orb
One of the most notable announcements accompanying the rebranding is the introduction of Orb 2.0, an upgraded version of World’s biometric scanning device.
Powered by Nvidia’s Jetson chipset, this new generation promises to be five times more powerful than its predecessor while also being more compact and environmentally friendly. The updated Orb will soon be available in self-service kiosks in select markets, making it easier for users to verify their identities.
A Layer-2 blockchain
Alongside the rebranding and new hardware, World launched World Chain, a Layer-2 blockchain secured by Ethereum.
This network aims to enhance efficiency and functionality for users while prioritizing verified human participants over bots. The blockchain has already seen significant activity, with World transactions accounting for 44% of operations on the OP Mainnet.
Expanded identity verification options
World is also broadening its methods for identity verification beyond just iris scans. Users can now verify their identities using NFC-enabled passports through the World app, increasing accessibility and flexibility in how individuals can authenticate themselves.
Deep face technology
Another exciting feature introduced is World ID Deep Face, designed to detect deepfakes and ensure the authenticity of video content. This tool can be integrated into popular applications like FaceTime, WhatsApp, and Zoom, providing users with enhanced security in an era increasingly dominated by AI-generated media.
Privacy concerns surrounding iris-scanning technology
Despite these advancements, World’s iris-scanning technology raises several critical privacy concerns.
Data security and misuse
The centralized database containing biometric data poses risks of unauthorized access and potential misuse. If compromised, sensitive information could lead to identity theft or surveillance.
Consent issues
Many users may not fully understand what they are consenting to when providing their biometric data. In vulnerable communities, there may be implicit pressure to share personal information in exchange for essential services.
Function creep
There is a risk that biometric data collected for one purpose could later be used for different, potentially invasive purposes without individuals’ knowledge or consent.
Technical vulnerabilities
The security of the Orb device itself is crucial; flaws could allow unauthorized access or exploitation. Additionally, deepfake technology complicates verification processes and raises fraud risks.
Privacy erosion
The capability to capture iris scans covertly raises concerns about surveillance practices that undermine individual anonymity and civil liberties.
Market reaction and future outlook for World
Following the rebranding announcement, World’s cryptocurrency token (WLD) experienced fluctuations in value—initially declining by about 2.71% after a period of positive market sentiment. Despite this dip, WLD remains up significantly over recent weeks, indicating that investor confidence may still be strong amid these changes.
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