According to the announcement on Worldcoin’s website on July 13, it took less than half the time to achieve 2 million World ID signups compared to reaching the first million.
Worldcoin has gained more than 2 million users due to its global identity protocol global identifier. Currently in its beta phase, the project has attracted many of these users with tours conducted in major cities around the world.
The Worldcoin project aims to create a digital currency and global identity system. Sam Altman created it to address the challenges associated with financial inclusion and identity verification using blockchain technology.
A notable feature of the project is the World ID protocol which aims to provide individuals with digital passports stored on their smartphones. This enables secure and private verification of identity using biometric data obtained through iris scanning, resulting in a unique identifier known as an IrisHash.
The main problem that the project aims to solve is the lack of legal identity for a large part of the world’s population. Referring to a statement from the McKinsey Global Institute, it He says:
“There are over 4.4 billion people worldwide who do not have a legal identity or have an identity that cannot be digitally verified. This is a huge hurdle when it comes to accessing financial services.”
According to the announcement on Worldcoin’s website on July 13, it took less than half the time to achieve 2 million World ID signups compared to reaching the first million. The project announced achieving 1 million subscriptions in January, and it only took six months to reach 2 million.
The new milestone was reached after carrying out the project’s world tour in cities such as Barcelona, New York, Tokyo, Seoul, Buenos Aires and Berlin. The tours resulted in an average of 40,000 single sign-ups each week for a verified GNU.
In its announcement, it is advertiser which – which:
“Getting 2 million World ID subscriptions is more than just an achievement for the Worldcoin community; it’s also a significant milestone in the broader global effort to make digitally verifiable identity accessible to everyone.”
More users lead to more demand for Worldcoin services
The increase in the number of users has also created demand for the “Orb”, the device used to scan the iris of the eye and capture data. As a result, the Orb is expected to become widely available to meet the growing demand in the coming months. In addition, many applications and services have recognized the value of the World ID program. This is also very positive for Worldcoin, as it helps them expand their reach to a larger user base since the services open up the verification model for their dedicated users.
To enroll in the World ID program and obtain a digital passport, individuals need to have their own unique identifier, IrisHash, that confirms their uniqueness. Upon successfully uploading their biometrics, participants are rewarded with WorldCoin (cryptocurrency) for their participation and contributions.
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Temitope is a writer with over four years of writing experience in various fields. He has a particular interest in the fintech and blockchain spaces and enjoys writing articles in those areas. He holds a Bachelor’s and Master’s degrees in Linguistics. When he’s not writing, he’s trading forex and playing video games.
