Worldcoin eyes collaboration with PayPal, OpenAI

Tools for Humanity, the company spearheading Worldcoin, is currently in discussions exploring potential collaborations with digital payment behemoth PayPal and Artificial Intelligence (AI) research firm OpenAI, as revealed by Alex Blania, Chief Executive Officer at Tools for Humanity, in a recent interview with Bloomberg News.

While these discussions hold promise, details regarding the nature and specifics of these potential partnerships remain vague. Blania, in the interview, refrained from providing concrete examples of what a collaboration with OpenAI might entail, stating, “There’s some natural things in how we might and will work together,” but stopped short of unveiling any concrete plans.

Similarly, while Tools for Humanity has engaged in conversations with PayPal Holdings, Blania hinted that any potential collaboration with the payment giant might still be in the exploratory phase, lacking concrete developments thus far.

A PayPal spokesperson, responding to queries from Bloomberg, declined to comment on the rumors or speculation surrounding the potential partnership.

Apart from the potential partnerships, the involvement of Sam Altman holds significant weight for both OpenAI and Worldcoin. As the CEO of OpenAI, Altman has overseen the organization’s significant expansion, securing substantial funding and positioning it as a pioneering force in AI innovation. Although not directly involved in day-to-day operations, Altman remains a co-founder and influential figure at Tools for Humanity.

However, Altman’s prominence has also drawn regulatory scrutiny, particularly towards Worldcoin. The project has faced investigations and regulatory actions in several countries, including raids in Hong Kong, investigations in Germany and Argentina, and a ban in Kenya. Additionally, concerns have been raised by regulators in Spain and Portugal regarding the participation of minors in the project’s eye-scanning initiatives.

In response to these challenges, Blania emphasized the company’s proactive approach in engaging with regulators and incorporating their feedback to address concerns and ensure compliance with regulatory frameworks.

Strategy shift

Despite encountering challenges, the company is forging ahead with its expansion plans and enhancing user control over data, including the introduction of features allowing users to request the deletion of their World IDs.

In recent developments, Worldcoin unveiled its intention to launch a layer 2 blockchain named World Chain and announced upgrades to its orb scanning device, the Orb. Alex Blania, CEO of Tools for Humanity, which oversees Worldcoin, disclosed that the project is also rebranding its terminology from “universal basic income” to “distribution of scarce resources” to better align with its objectives and avoid potential political associations.

However, Worldcoin found itself embroiled in controversy this week following the announcement of its intention to sell its native token, WLD, to investors outside the United States. This strategy aims to augment the circulating supply of WLD by 19% within the next six months.

As of April 2024, Worldcoin has amassed over 5.1 million registrations spanning 120 countries. Additionally, the project has produced over 2,000 Orbs, which hold the potential to verify these identities.

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