Worldcoin seeks partnerships with PayPal and OpenAI

The team behind iris-scan-based cryptocurrency project Worldcoin (WLD) has expressed interest in establishing partnerships with technology and finance leaders, as reported by Bloomberg.

Tools for Humanity, the developer behind Worldcoin, has expressed its interest in collaborating with payments company PayPal and artificial intelligence giant OpenAI, behind ChatGPT. It is worth mentioning that Tools for Humanity is co-founded by Sam Altman, CEO of OpenAI.

Although the interest is clear, the company did not disclose specific details of these potential partnerships. Furthermore, it has not established any concrete plans to date.

Worldcoin Future Plans and Challenges

Previously, Tools for Humanity had already entered into a partnership with Okta Inc., a company specializing in cybersecurity. The objective of the partnership was to improve Worldcoin’s authentication services.

The platform’s system uses iris scanning technology to create a catalog of digital identities. As a reward, users receive the WLD cryptocurrency.

According to data from CoinGecko, the WLD token is costing, at the time of writing this article, US$4.92, with a daily drop of 3.5%. According to the aggregator, WLD has a circulating supply of 195 million and a market value of approximately US$962 million.

Worldcoin plans to launch an Ethereum Layer 2 solution called World Chain in the summer of 2024, as reported by CriptoFácil. The objective is to increase user integration on the platform.

As the project announcement highlighted, the network will be open to everyone, with priority given to verified humans over bots and with gas subsidies for casual transactions. The network will be integrated with the Worldcoin protocol and will feature Ethereum protection as an L2 layer, aiming for scalability and integration with the Superchain ecosystem.

Despite advances and growing popularity, Worldcoin faces resistance in some countries. Spain, Portugal, Kenya, among others, have taken steps to prohibit the scanning of their citizens’ irises under the project. Still, the Worldcoin website records almost 5.1 million registrations in 120 countries.