Sam Altman’s controversial crypto venture Worldcoin is undergoing a rebranding to World Network, or simply World, in less than a year after falling short of its 2023 sign-up goal by an astonishing 99.4%.
On Thursday, Altman unveiled the new branding alongside a revamped version of World’s contentious iris-scanning ‘orb’ device. Equipped with the Nvidia Jetson chip, this latest iteration of biometric technology is touted as “five times” more powerful, promising improved privacy and security capabilities.
In a blog post, World expressed that the rebranding was necessary as “the name ‘Worldcoin’ no longer captures the essence of our mission—to accelerate every human.”
Back in October 2021, Worldcoin set an ambitious goal of onboarding one billion users by the end of 2023. However, it only succeeded in attracting six million participants, reflecting a staggering 99.4% shortfall.
Read more: Worldcoin incentivizes ‘crypto players’ with a $15 drink discount—after capturing your eyeballs, of course.
On the same day, Altman announced that the number of users had risen to 15 million—still 98.5% below the 2023 target.
Worldcoin also introduced World ID Deep Face, a solution alleged to be capable of detecting AI-generated content and addressing the deepfake issue.
World Network is presently prohibited in Spain and Portugal and is under scrutiny in Argentina and the UK.
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