After a pause in India, Worldcoin starts in Singapore

January 2, 2024

By Anjali Kochhar

Sam Altman, the CEO of OpenAI, co-created the cryptocurrency project Worldcoin WLD +2.01%, which declared its launch in Singapore on Wednesday.

People in Singapore can now confirm their distinct humanity using an Orb, showcasing the increasing worldwide fascination with validating personhood through the Worldcoin project, as stated on the organization’s website.

While Worldcoin’s post highlighted the possible benefits of debuting in a major and prosperous economic center like Singapore, the project has lately terminated registration services in Brazil and France and put a halt to operations in India. Worldcoin said to The Block at the time that its projects in Brazil and France were merely designed to be sneak peeks before going larger in 2024.

Furthermore, the Worldcoin Foundation noted that Orb-verified proof of personhood services has been temporarily reduced in scale in India. This adjustment aims to facilitate the development and implementation of a customized, secure, and well-organized process that adequately addresses the existing demand.

With its Orb devices, the Worldcoin project focuses on identity, scanning people’s irises to “verify their humanness.” WLD tokens are also distributed by the project as a means of encouraging users to join the protocol. Even though WLD’s price dropped significantly at first following introduction, it has since increased, and as of 2:30 p.m. ET, it was trading at $3.70.

Making Partnerships in Singapore

ACCESS and the Singapore Fintech Association (SFA), two of Singapore’s most prestigious startup and tech associations, have accepted project contributor Tools for Humanity (TFH) as a member in addition to World ID verifications, according to Worldcoin. “The project launch and association memberships come in the wake of a recent multi-city tour in Asia made by members of the TFH product development team.”

Worldcoin is being developed by Tools For Humanity as the main project. Along with Alex Blania, who serves as CEO, Altman co-founded the company.

According to Worldcoin’s website, individuals can presently be verified at five different sites in Singapore.

About the author

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.

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