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Worldcoin Pilots World ID Verification In Peru, WLD Price To Rally? – Crypto News

Published

1 year ago

May 9, 2024

Dripp

Sam Altman’s Worldcoin has once again achieved a significant milestone in the global Web3 industry. The entity has now extended its World ID verification project to Peru, further underscoring its mission to expand global footprint.

Following significant strides with the help of Worldcoin’s Orb verification, a vital component of World ID verification, including attention-nabbing developments in Argentina and Singapore, the project now expands to Peru aiming to revolutionize digital identity. WLD, the native token of Worldcoin, remains poised to potentially benefit from this expansion, piquing considerable investor attention as it currently witnesses a downturn in price.

World ID Verification Moves To Peru: What’s Happening?

World ID Verification is a state-of-the-art, open-source, and permissionless digital identity protocol that enables individuals to validate their humaneness online while also preserving their privacy. This verification primarily leverages Worldcoin’s Orb verification process, which uses an Orb to scan a person’s irises to create a unique iris code that is further used to create a distinctive digital identity.

In its official statement released on May 8, Worldcoin stated, ‘ World ID orb verifications are now available in the Peruvian capital of Lima.’ Peruvians above 18 years of age are eligible to prove their humanness online.

According to a recent study conducted in March this year, 90% of more than 800 Peruvian participants hinted that they want technology-based solutions to differentiate humans from online bots. Moreover, 84% flagged that mechanisms that distinguish machines from humans are ‘much-needed’ for the future.

Capitalizing on this opportunity, Worldcoin appears to have set off a wave nationwide with its World ID verification. As mentioned above, its developmental endeavors in Argentina involved the registration of nearly 500,000 World ID verifications. Whereas, last year, the firm commenced its Orb verification processes in Singapore, aligning with efforts to expand global foothold.

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WLD Price To Recover?

As of writing, WLD’s price appears to have witnessed a pullback in the past 24 hours. The token traded at $5.52, with a 5.05% dip recorded since the past day.

Nonetheless, with Worldcoin gradually expanding its global outreach, crypto market participants expect rising adoption of WLD, which could bring potential buying pressure to the token. If this happens, the WLD token could witness substantial gains, whereas the rising adoption of AI further propels optimism on the token’s long-run price movements.

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