WORLDCOIN LAUNCH is starting! Backed by Sam Altman of OpenAI.

Key Takeaways

so if you follow AI news you hear a lot about openai change BTE Sam Altman Etc well in July 2023 the AI world is about to collide with the crypto world as Sam Altman and openai launch World coin to help separate humans from AI to provide a global identification system and also to help provide resources for people that are displayed by AI now this is a separate project from openai while Sam ottman is one of the main people on there as you'll see the teams are separate and different and there's a lot of controversy around it some people hate it a lot of people are against it Edward Snowden for example not a fan of this but it keeps on picking Up's team and we're about to hear some pretty big announcements coming out out of world coin and I think we're going to see a lot more of what this thing's about what it actually is what it's doing and what we expect to see next so here's a quick primer about what we know so far so the world coin is basically three things it's an ID it's money and it's a global payment system each unique human will have a unique account that will have some World coin in it this is going to allow them to transact globally to buy or sell World coins and also it's going to act as proof that they're a unique human and eventually it sounds like it might also help with the governance of AI Sam Altman's hint that maybe each human will have for example one boat to see where AI takes us how to control it Etc nothing concrete about that but that's one of the things that's been mentioned so a lot of things you see here is things that are said by Sam Altman and other people involved with the world coin project this is just what they said right now it's hard to verify what is true what's not what's hype what's marketing so keep that in mind take this with a grain of salt but this is what has been put out for our but this is so far what we know about it so the way they go about providing this ID system to verify that you're a unique human individual is they have this machine called the orb so here's kind of what that looks like it looks like the first person in Hong Kong got to be verified here it is looks like some of these places are Rio Singapore Chile you're there in Brazil here they are in somebody's bathroom London somewhere in here I saw in New York was coming soon Paris the loop this building with what appears to be a boat on stuck on top of it that's uh Singapore so how it works is that you look into this orb and it scans your eye the reason they do it is because the eye is a way to make sure that each individual is unique so each of our eyeballs is unique similar to how our fingerprints are unique but it's easier from a technological perspective to just scan your eyeballs it's easier to get all the details and and store it Etc so once they scan your eye they get what's called an iris code let's give you the code to identify that individual why they didn't call it an ID is beyond me so the iris code gets stored and only that information is stored the actual image of your eyeball that gets deleted off of the device this by the way was the thing that Edward Stone had the problem with saying basically you know we deleted the scans yeah but you you have the thing still there it still matches future eyeballs and he says don't catalog eyeballs and of course there's tons of stuff that's happening that is there to prevent fraud so for example if you have contacts on there's a whole AI system that seems to be behind the scenes make sure you don't have contacts on some other way of tampering with the device Etc and so once you have that Iris code it generates that's like your ID or maybe there's some sort of one-to-one other code with it like a QR code or something but basically you have some code that is now your ID your digital wallet and that allows you to transact on that payment system by the way this isn't live yet the world app the app behind all of this you can download it but once you download just has a little countdown screen that says that we're about to be released so as of this recording we don't know anything about it but very soon we're about to find out but basically each real human eyeball is going to have a world coin account associated with it a digital wallet with some World coins in it now this has been growing pretty fast now there's over 2 million people that have done this so there's user systems like from all over the world looks like they've been not doing it in China and us just yet but looks like us is rolling out soon and the people behind it are people you've heard about before so of course openai CEO Sam Altman then we have blockchain Capital a16z Bain Capital crypto distributed Global there's Alex Blaney at this guy right here address and Horowitz is in on this and they're all part of this deal in one way or another so and by the way Sam up and I believe LED an investment around way back in the day in coinbase so a lot of these people do have some sort of a experience with crypto now Sam obman has a blog post from a while ago called Moore's law for everything basically he talks about how as AI expands a lot of things are going to change the cost of human labor is going to drop the cost of goods and services is going to drop there's going to be a lot of impact because of this and by the way places like Goldman Sachs did put out a report kind of saying some of the similar things about this saying that a quarter of for example the U.S workers could be completely replaced by this generative AI two-thirds of them will be impacted in some way and that's not even talking about robots and automation we're just talking about and then physical automation we're just talking about things like Chad GPT the generative Ai and so in this pose Sam Allman for example proposes something that's you know in the past has been called Ubi Universal basic income so the idea that everybody should have a little bit of money just to take care of their needs he doesn't call it that but the idea is similar and so it sounds like this world coin can be a way to make that reality so whatever the case is this is where we are the big announcement is coming soon looks like Monday July 24th 2023 is when a lot of this will be rolled out so we'll know a lot more my take on this is that the AI wave is rolling out and a lot of people are just not ready for what's going to happen for the automation that it will bring so if you know some of the estimates by Goldman Sachs and others are right you know we're going to be losing you know say between 25 to 75 percent of the global Workforce is no longer going to be needed by the way Goldman Sachs did not explicitly say that but that is one of the that is one of the scenarios that they sort of outlined you know it goes pretty deep into the numbers I'm not quoting them exactly but they are saying that this has the potential for a rapid Global change in how the workplace functions and so when and if that happens we need a plan when that happens if World coin has an all-in-one solutions for everybody to just jump onto that might be the path of least resistance for for the governments for the corporations for the people who's going to say no to this when that time comes the the people the workers the people the average people in the U.S then they're gonna say no because they're getting free money nobody said no to the stimis check back you know in 2020 the corporations will not say no to this because they want people to have money to spend on the goods and services it's still going to flow up to them anyway they need that money to continue growing expanding and doing their business you know the treasure the treasury pays for everything in the United States at least print more money spend that money and the government gets to prevent you know riots and all The Guillotines from being dusted off so again assuming that Sam upman is correct about sort of the trajectory of this where this is heading it seems to me like he's skating to where the puck is going he's building something that for the rest of us might seem like some weird future fantasy some dystopian nightmare but for him he might see it as the only way out and he's building that so by the time we get there it'll be red but who knows my question for you though is what's your take on this would you have your eyeball scan for some crypto tokens do you support giving some assistance to people that are losing jobs permanently to AI like let's say a third of the people permanently lose their jobs in the US or whatever country you're living in would you support the government helping them out covering their basic expenses or do you prefer some sort of a Mad Max style Showdown or do you think this is just nonsense and it's going to be business as usual for the foreseeable future that's it's a valid worldview to have and I hope you're right but it does it is beginning to feel like a lot of changes are afoot it's almost as if 2020 knocked us into some weird accelerated timeline or something but either way I want to know your thoughts comment below and I'll post more info soon as soon as all these announcements are rolled out thank you