Sam Altman may have been asked to leave OpenAI, but his participation in the crypto project Tools for Humanity, which founded Worldcoin, remains intact, a source close to the project told TechCrunch.
Altman has a “steady and valuable” engagement with Tools for Humanity and “that is not expected to change,” the source said. The source added that Altman is still the chairman and co-founder of the project, confirming that information on the project in website is the latest.
News of Altman’s ouster sent the Worldcoin token, WLD, plunging to a low of $1.84 on Saturday, but the token recovered over the weekend and is now trading at par with its previous level of $2.40, per CoinMarketCap data.
Worldcoin raised $115 million in May in a Series C round led by Blockchain Capital. Since March, Altman has been on the project’s board, but has not been involved in day-to-day operations.
“Identity proof is becoming increasingly important in the rapidly advancing age of AI,” the Worldcoin Foundation told TechCrunch on Monday. The team supporting Worldcoin is still focused on the mission of the project, “building a more human internet and a more accessible global economy through World ID, a way to improve privacy to verify humanity and uniqueness online,” the company said.
Worldcoin is famous for this controversial Orb hardware, which scans people’s irises and gives them an ID that allows users to access the Worldcoin application and a digital passport. The verification process is intended to verify the identities of individuals and prevent anyone from creating multiple accounts.
The crypto project has faced pushback from some countries, notably Kenya, which has banned Worldcoin from scanning any of its citizens’ eyeballs over concerns that the company has failed to inform users. about the data security and privacy measures it takes, and how the data is collected. use or process.
Worldcoin has also faced backlash from critics, who say the company is targeting developing countries with stricter privacy rules. The project gives most participants (outside the US and other countries) 25 WLD tokens, worth roughly $58.5, in exchange for signing up, and that has prompted its critics to call it exploitative.
That didn’t stop individuals from signing up. Since the public launch 120 days ago, more than 2.46 million people have signed up for Worldcoin, according to website. Over the past seven days, more than 65,200 new accounts have been created and the project is averaging 137,000 wallet transactions per day.
Tiago Sada, head of product for Tools for Humanity and a main contributor to Worldcoin, previously told me that focusing on developing countries and giving away free tokens is “fair” because most of tech projects focus primarily on emerging markets, because they are “easier to operate.” And Altman should be there to help for the foreseeable future.