EXPERTS KENYA Cryptoverse: All eyes on ChatGPT-maker’s Worldcoin 1 month ago Samuel Post Views: 185 Worldcoin has no problem attracting eyeballs. More than 2.2 million people have signed up, getting their irises scanned in exchange for a digital ID and, in some countries, free crypto. The new project from ChatGPT founder Sam Altman aims to create a blockchain-based “identity and financial network“. Its native coin WLD has kept a steady price between $2 and $2.50 since its launch on July 24, thus far spared the “pump-and-dump” trajectory of many new crypto tokens. The investor jury is out on Worldcoin’s prospects, according to Gordon Grant, co-head of trading at Genesis Trading, which isn’t offering the token to clients yet. “There are folks that have really taken a view about this project, both with the positive and negative side,” – he said. Worldcoin’s white paper on its website says that, over the next 15 years, a total of 10 billion of the tokens will be released into the market. The circulating supply was 120 million tokens on Monday, data from market tracker CoinGecko shows, around 1.2% of the total planned future supply. Some tech players are enthusiastic about Worldcoin’s plan to provide a digital ID system based on what it calls “proof of personhood” with the project backed by investors including Andreessen Horowitz. PitchBook analyst Robert Le said there were several startups trying to build blockchain-based digital identity systems, but none on Worldcoin’s scale. Worldcoin’s bet is that this will become more important as artificial intelligence bots increase the need for people to be able to verify their human status online. RETAIL INVESTORS As with much of crypto, caveat emptor. James Butterfill, head of research at CoinShares, said he expects buyers at the moment to be retail investors, as uncertainty over whether Worldcoin is a security may make institutional players more cautious. More than 50 altcoins – a term referring to cryptocurrencies that are smaller than bitcoin and ether – have been labelled as securities by the U.S. Securities and Exchange Commission, according to CCData. Data watchdogs in Germany have been investigating Worldcoin since November last year and the company was ordered to stop its eyeball-scanning operations in Kenya last week, over concerns about potential risks to public safety. “It’s never bullish for a token to be investigated by regulators,” – said Riyad Carey, a research analyst at blockchain analytics firm Kaiko. Worldcoin says that it is “completely private”, that its ID system is “designed to enable anonymous actions”, no personal data is disclosed by default and that biometric images are not shared with Worldcoin unless a user chooses. It says it’s working closely with regulators. Source: saltwire.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: blockchain, ChatGPT, crypto, Kenya Continue Reading Previous The growth of mobile betting with crypto sportsbooksNext Shabana to finally unveil betting firm as their new sponsor More Stories EXPERTS NIGERIA Afreko Media Amplifies Its Betting Platform Portfolio With The Acquisition Of Gamblers.Africa 2 mins ago Szarlot EXPERTS KENYA Unlocking the power of mobile trading: A financial revolution in Kenya 21 hours ago Samuel EXPERTS SOUTH AFRICA Online gambling addiction is a pandemic in SA, sucking in children and adults 24 hours ago Szarlot EXPERTS SOUTH AFRICA MultiChoice investors kiss R32 billion goodbye 24 hours ago Samuel KENYA ONLINE Xprizo partners with African payments provider M-Pesa 3 days ago Samuel EXPERTS KENYA Flutterwave wants to invest $50 million in Kenya 4 days ago Samuel BETTING KENYA Exploring OdiBets: A Game-Changer In Kenyan Sports Betting 4 days ago Samuel EXPERTS HOT NEWS KENYA GamStop and Responsible Gambling in Africa 4 days ago Szarlot BETTING KENYA Expand the war on betting addiction 1 week ago Samuel EXPERTS KENYA National Treasury Drafts Strategy to Catch Tax Evaders 1 week ago Samuel CASINO EXPERTS Seven fun and interesting facts about slot machines 1 week ago Iwo Bulski EXPERTS ZAMBIA Crypto-Powered Cross-Border Payments in Africa 2 weeks ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.