Sam Altman's crypto project introduces new Orb and new name

Worldcoin, the cryptocurrency and identity verification project co-founded by OpenAI CEO Sam Altman, has rebranded to simply "World" and introduced a new version of its eyeball-scanning Orb device.

The updated Orb is designed to verify human identities “in the age of AI” by providing users with a World ID that can be used to anonymously prove their human identity online.

The latest version of the Orb is made with 30% fewer parts, making it easier and cheaper to produce. Rich Heley, chief device officer at Tools for Humanity, which supports the project, emphasized the need for mass production, suggesting that Orb's availability could be increased thousands of times. To fulfill this goal, World allows people to rent or buy Orbs for identity verification in its communities, and is launching an “Orb on Demand” service for easy device delivery.

Despite privacy concerns, World claims to have verified nearly 7 million "unique humans." However, its practices have drawn scrutiny in various countries, including Kenya and Hong Kong, over data collection issues.

While the project’s ID services are available in the U.S., its cryptocurrency token, WLD, remains unavailable in the country.