From Dismissal to Joining MS... 'Worldcoin' Also Shaken by Altman’s Moves

Altman-developed virtual asset Worldcoin, high expectations at launch
Aiming to build identity verification network using iris recognition data

Image source=AFP Yonhap News

Following the sudden dismissal of Sam Altman, the former CEO of OpenAI known as the 'father of ChatGPT,' and his subsequent move to Microsoft (MS), the price of Worldcoin experienced sharp fluctuations. Worldcoin is a virtual asset developed by Altman that attracted significant market attention at its launch. Altman is reportedly still maintaining his position as co-founder and chairman of the Worldcoin development company. Worldcoin currently ranks 143rd in market capitalization among all virtual assets.

According to the global virtual asset market tracking site CoinMarketCap, as of 2:16 PM on the 21st, the price of Worldcoin was recorded at $2.37 (approximately 3,056 KRW), up 3.12% from the previous day. Before Altman's dismissal on the 16th of this month, Worldcoin was trading around $2.40. However, after his sudden dismissal was announced on the 17th, the price plunged more than 20% to $1.85 on the 18th.

However, over the weekend, expectations for Altman's return grew, pushing the price above $2.50 at one point. After the return fell through, the price declined again but traded near $2.40 following the news of his move to MS. Compared to the price before the series of events involving Altman's dismissal and move to MS, Worldcoin actually rose by 8.34%.

Worldcoin was created with the goal of building a financial and identity verification network accessible to everyone. It aims to establish infrastructure to address the challenges anticipated as the distinction between humans and artificial intelligence (AI) becomes increasingly difficult. To this end, it uses iris recognition information through a device called 'Orb,' which links an individual's iris data to the blockchain and generates a World ID once the person is verified. Upon receiving a World ID, users can create a wallet to store Worldcoin and participate in the ecosystem. Even before its launch, Worldcoin attracted attention with over 2 million people worldwide registering for IDs. In South Korea, Orbs have been installed in locations such as Gwanghwamun, Euljiro, and Gangnam in Seoul.

Additionally, the project aims to provide basic income to people worldwide through Worldcoin. By providing iris information, users receive coins as rewards, and the basic income nature of Worldcoin is intended to increase labor productivity and address unemployment issues.

However, due to several adverse factors, it has not received as much attention as it did at launch. Firstly, concerns have been raised that iris recognition data could be leaked and personal information stolen, and criticisms have emerged that providing Worldcoin is essentially a price paid for supplying iris data. Furthermore, ongoing market downturns caused by tightening concerns have led to a gradual decline in interest in the coin market.

This content was produced with the assistance of AI translation services.