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A “groundbreaking year” for World Coin, a centerpiece scanning virtual currency project starts in Singapore

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World Coin (WLD) has announced its launch in Singapore, a week after suspending operations in three other countries.

WorldCoin, founded by OpenAI CEO Sam Altman, says in a new company blog post that its launch in Singapore caps a landmark year for identity verification protocols.

“Individuals in Singapore can now confirm their unique humanity with an orb, as proof of character and the latest sign of growing global interest in the World Coin project. Following the successful launch of World ID 2.0 and the open sourcing of the Worldcoin iris recognition pipeline in mid-December, World ID authentication is now available in Singapore via the project’s custom hardware device, the Orb. became. ”

Worldcoin’s orb is a helmet-shaped peripheral that customers use to verify their identity. To use it, an investor must download a wallet compatible with her Worldcoin app, access the orb, and scan their eyeballs as a means of verifying their identity.

WorldCoin says it plans to continue expanding access to its protocol, launching in cities in Spain, Germany, Chile, Argentina, and Japan.

But last week, the project suspended service in India, Brazil and France, coinciding with a roughly 22% drop in WLD prices at the time, without giving a specific reason.

Nevertheless, the project considers 2023 to be a “breakthrough year” as the number of World App users exceeded 5 million and the number of transactions exceeded 30 million.

“According to TFH, those who developed and maintained [the] The Worldcoin project’s World App currently has more than 5 million accounts created, and according to CoinGecko, it will rank alongside the wallet as the fifth most popular hot wallet in the world by 2023. .

In addition to downloads, World App’s monthly active users have increased to 1.7 million, and the total number of transactions on the app now exceeds 30 million. ”

WLD is trading at $3.64 at the time of writing, with a slight decline over the past 24 hours.

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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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