Image: Kaleem, a 22-year-old engineer from Bengaluru, participating in the WorldCoin registration process by undergoing an iris scan using a spherical device at Mantri Square Mall in Bengaluru, India on July 25, 2023. Image Credit: REUTERS/Medha Singh
The cryptocurrency initiative, Worldcoin, founded by Sam Altman, the CEO of OpenAI, has seen remarkable growth but is currently encountering a shortage of orbs, the devices utilized for iris scanning in exchange for tokens. To tackle the high demand and logistical challenges, Worldcoin has decided to escalate Orb production.
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During a discussion with Semafor, Alex Blania, the CEO of Tools for Humanity and a key figure in Worldcoin, shared plans to increase orb production. Presently, there are approximately 300-500 orbs in circulation, but the overwhelming interest has led to the deployment of security teams to effectively handle crowds.
Blania expressed his astonishment at the intricacies involved, mentioning, “It’s much simpler in some aspects and more complex in others. I didn’t anticipate the need to establish a robust team in every market at this early stage. I assumed we would have more time.”
Understanding Orbs
Within the Worldcoin ecosystem, orbs function as specialized tools that utilize iris recognition technology to verify an individual’s unique identity. These iris scans are converted into numerical codes to prevent fraudulent activities. Through this iris scan process, users can obtain a new form of digital identification, enabling them to access the Worldcoin cryptocurrency. This iris-based authentication system offers a reliable alternative to CAPTCHA, the standard image-based tests used to differentiate between humans and spam bots on various online platforms.
The main goal of the platform is to differentiate between humans and AI through what it defines as “proof of personhood.” Despite initial doubts regarding its biometric approach, the increasing adoption indicates a growing acceptance of the technology. Launched last July, Worldcoin now boasts a user base exceeding 10 million across 160 countries.
As of Friday morning, Worldcoin was trading at $4.80, reflecting a 0.4% increase from the previous day.