Worldcoin eyes cooperation with PayPal, OpenAI

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Tools for Humanity, the company behind Worldcoin, is exploring possible partnerships with digital payment giant PayPal and artificial intelligence (AI) research company OpenAI, Alex Blaneya, CEO of Tools for Humanity, said in a recent interview with Bloomberg News.

Details about these potential partnerships, however, remain tentative and non-specific. Blania did not provide concrete examples of what the partnership with OpenAI could bring.

“There are certain natural things about how we can and do,” he said. But it's nothing we're ready to announce yet.

As for PayPal, a potential collaboration may still be in its early stages. According to Blaenia, Tools for Humanity has held discussions with PayPal Holdings, but, according to OpenAI, these discussions have yet to produce any tangible progress.

A PayPal spokesperson told Bloomberg that the company does not comment on rumors or speculation.

In addition to their specific offerings, Sam Altman's involvement is critical to both OpenAI and Worldcoin. At OpenAI, Altman serves as CEO. Under his leadership, the organization has expanded its scope significantly, received significant funding, and positioned itself as a leader in AI innovation.

While not directly involved in day-to-day operations, Altman remains a co-founder and influential figure in Tools for Humanity.

Blenia said Altman's high profile has brought increased attention to the project and increased regulatory scrutiny.

In particular, Worldcoin has faced investigations and regulatory actions in several countries. They have been hit by raids in Hong Kong, investigations in Germany and Argentina, and a ban in Kenya. Additionally, regulators in Spain and Portugal have raised concerns about minors participating in eye scans.

Blania said the company is taking a proactive approach by engaging with regulators and making adjustments based on their feedback.

Change of strategy

Despite the setbacks, the company is expanding its product offerings and has introduced more control over data, such as allowing users to delete their World ID.

Earlier this month, WorldCoin announced plans to open a Layer 2 blockchain called WorldChain and is developing an Orb scanning tool. The Blania project is also moving from the term “universal basic income” to “distribution of micro-resources” to better reflect its goals and avoid political connotations.

WorldCoin sparked controversy this week after it announced plans to sell its initial token, WLD, to investors outside the US. This move aims to increase blood circulation by 19% in the next six months.

As of April 2024, WorldCoin has attracted more than 5.1 million registrations in 120 countries. Also, more than 2,000 orbs have been prepared to confirm these identities.

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