Worldcoin Seeking Partnerships with Tech Giants PayPal and OpenAI

According to a report by Bloomberg, the team behind the iris-scanning cryptocurrency project, Worldcoin, is seeking collaborations with major players in the technology and finance sectors.

Tools for Humanity, the developer of Worldcoin, expresses interest in forming partnerships with industry giants such as PayPal and the artificial intelligence company OpenAI. However, the specifics of these potential partnerships remain unclear, and concrete plans have yet to materialize.

Previously, Tools for Humanity partnered with Okta Inc, a cybersecurity firm, to enhance authentication services for Worldcoin.

Worldcoin operates by scanning individuals' irises using a specialized orb to establish digital identities. In return for this data, users receive the cryptocurrency WLD.

As of April 25th, WLD was trading at $4.88, marking a 4.20% decrease in price over the previous day. According to data from The Block, WLD has a circulating supply of 195.3 million tokens and a market capitalization of $951.9 million.

The project is set to introduce an Ethereum Layer 2 solution named World Chain in the summer of 2024. This network aims to streamline user onboarding for Worldcoin, prioritizing verified individuals over automated processes like bots. Additionally, it will integrate with the Worldcoin protocol and leverage World ID's Proof of Personhood, while being secured by Ethereum as a Layer 2 solution and designed for scalability within the Superchain ecosystem.

Despite its ambitions, Worldcoin has faced resistance in several countries, including Spain, Portugal, and Kenya, where authorities have taken steps to block the iris-scanning technology. Nevertheless, Worldcoin claims nearly 5.1 million sign-ups across 120 countries, with over 2,000 orbs manufactured.

Sam Altman, chairman and co-founder of Tools for Humanity, also serves as the co-chair of OpenAI, the organization behind the popular generative AI, ChatGPT.