Worldcoin CEO Reveals Plans for New Orb, Global Expansion at KBW 2024

• Worldcoin aims on worldwide scaling using iris-scanning Orbs and new gadget updates.
• The initiative will launch a Layer-2 network and address regulatory issues.

At Korea Blockchain Week 2024, Alex Blania, CEO of Tools for Humanity, discussed Worldcoin’s ambitious intentions to expand its iris-scanning technology globally. The company’s major goal is to widely distribute its “Orbs,” which employ iris scans to verify users’ identities and safeguard them from any AI-related hazards.

Blania stated that Worldcoin’s goal is to achieve widespread adoption, similar to the scaling success of networks such as PayPal and Facebook. More than 6.5 million World IDs have already been provided by the company in over 160 countries. The next-generation Orb devices, with improved operational models, are expected to be announced in the following weeks.

Advancements and New Developments

In addition to growing its hardware, Worldcoin (WLD) plans to establish its Layer-2 network, WorldChain. This additional network, like to Coinbase’s Base, will provide greater scalability than the present Optimism mainnet. Partnerships with Hyperlane and Moralis are also in place to facilitate the transition to the new mainnet.

Worldcoin is actively addressing regulatory concerns as their technology is scrutinized in several places, including Hong Kong and South Korea, because to privacy concerns around iris data gathering. The company highlights its commitment to privacy and continuing conversations with regulators to ensure compliance with current regulatory frameworks.

Blania hinted at significant updates to Worldcoin’s Orb devices, which aim to improve operational models and impact. The company is also looking at collaborations with South Korean game companies and preparing to launch World Chain, its Layer-2 network. Working with Hyperlane and Moralis, World Chain will improve the usability of Worldcoin’s mainnet, outperforming current alternatives like as Optimism.

Worldcoin’s focus on scaling and innovation reflects its desire to make its technology as widely available as major social networks and financial platforms.

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