Sam Altman, the creator of ChatGPT, attracted attention from the crypto industry in 2021 by reviving a token founded in 2013, World Coin. The project has been progressing slowly, but today will launch a new tool designed for the “AI Age.”
Per a press release shared with Bitcoinist, the team behind World Coin launched a new crypto wallet called World App, a financial and identity manager. Previously in a testing phase running on Polygon, the crypto wallet is now open to the public and free to download.
ChatGPT, Not The Only Tool That Will Change The World?
With a simplified interface, the wallet will natively support the World Coin and Ethereum ecosystems. The app has been designed to remove the friction from onboarding new users to crypto.
In that sense, the app was created to fulfill three core objectives: provide people with a decentralized alternative to manage their data and identity, access finance, and increase crypto adoption.
According to the release, World App was “intentionally designed” to protect people’s privacy. The crypto wallet will provide users with access to rewards for learning about crypto and even World Coin Grants to help the project evolve into a toolkit to “empower individuals in the Age of AI, built on top of the largest network of real humans.”
The World App is available in over 80 countries. During its beta phase, the World App onboarded over 1.5 million users with 500,000 active monthly users and 60,000 transactions. Tiago Sada, Head of Product at Tools for Humanity, told Bitcoinist the following regarding their newest product:
The intentionally simple design of World App aims to accelerate adoption of decentralized financial and identity systems. World App manages to abstract away a lot of complexity while preserving critical properties like self-custody and privacy. It is uniquely enabled by World ID’s Proof of Personhood to offer features such as gasless transactions, learn to earn courses, and 24/7 chat support to increase accessibility.
Beyond A Crypto Wallet, What Is World App?
The World App will be compatible with World ID, another application that operates as a “human passport to access” the internet. The app provides a seamless connection with the online world, allowing users to verify their identity, sign into websites, and access decentralized applications.
In addition, World App can be connected to the legacy financial system. The app has several deposit and withdrawal options for bank accounts and local payment methods. People can send and receive money instantly for free.
Per the release, the app is aiming at becoming much more than a crypto wallet:
World App wallets use account abstraction through SAFE contracts to increase security and simplicity. Peer-to-peer payments support ENS usernames for friendlier ERC-20 transfers. Token trading is made possible by the Uniswap protocol. Circle’s USDC enables users around the world to hold digital stablecoins backed by real dollars in a compliant manner. Frictionless deposits and withdrawals are enabled by regulated providers around the world, including Ramp and MoonPay
ChatGPT changed the world; the tool has provided millions with the power to enhance their workload and create at a new and faster pace. Can World App accomplish something similar in the crypto industry?
Chart from Tradingview
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As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.