Worldcoin, co-founded by OpenAI CEO Sam Altman, aims to create a universal digital identity and financial network using biometric data like iris scans.

Launched in July 2023, Worldcoin has achieved nearly six million verified accounts globally, with significant interest from users.

The project verifies users through biometric data collected at Worldcoin Orbs located in various sites, including Singapore.

Worldcoin has been operational in Singapore since December 2023, with orbs present in at least 10 locations, attracting local interest.

Queues have formed at the GR.iD shopping mall in Singapore as individuals await eye scans for Worldcoin cryptocurrency.

Migrant workers represent a significant portion of those seeking Worldcoin accounts, often incentivized by cash payments, reportedly receiving around $45 after transferring control of their accounts.

World IDs obtained can validate users on platforms like Discord and Shopify, helping to distinguish humans from bots.

Users can only verify their accounts once, with compensation in cryptocurrency varying by individual.

Within a year, World App amassed 10 million users across 160 countries, with 2 million daily active users and over 70 million transactions processed.

Despite attracting significant interest, Worldcoin has faced regulatory challenges globally, with concerns raised by countries like Hong Kong, Spain, and Germany regarding privacy violations and data collection practices.

Experts caution against the risks of sharing biometric data with private companies, highlighting potential misuse and identity theft.

The project's future success hinges on addressing regulatory issues, enhancing transparency, and maintaining user trust to realize its vision of a global decentralized identity system.