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Worldcoin and OpenAI are chalking up a deal that will see these two Sam Altman led projects join hands – here’s how this could impact on crypto markets and WLD price in the months to come.
WLD, the native currency of Worldcoin, is trading flat when writing, despite rumors of a massive partnership with the team behind ChatGPT, OpenAI.
In the crypto world, where sentiment plays a huge part, WLD price sliding at the back of potential massive news is unusual.
(WLDUSDT)
But, with Worldcoin price unmoved by the exciting OpenAI partnership rumors, what’s actually going on?
OpenAI To Partner With Worldcoin – What Does This Mean for WLD Price?
Earlier today, rumors were floated that OpenAI, whose board once fired Sam Altman, the lead man and co-founder for “not being candid in his communication”, was in discussions with Worldcoin, a crypto project also co-founded by Altman, to develop a crypto-based universal basic income and digital identity verification leveraging the latter’s iris scans.
In this deal, OpenAI, an artificial intelligence (AI) platform, would offer Worldcoin its widely used AI solutions and services. However, what Worldcoin will reciprocate and offer OpenAI needs to be clarified.
What we do know is that Worldcoin has scanned millions of people worldwide, giving them a digital identity and dishing out WLD coins to willing participants.
Some experts now think the involvement of Altman in both companies is a problem and could attract more regulatory scrutiny.
However, this won’t faze Worldcoin or OpenAI.
Last year, Worldcoin was banned in Kenya, Portugal, and Spain roughly three months after launching.
Officials in Kenya said the suspension would be lifted once there were solid assurances that the collected data would not place its citizens at risk.
In early March, the Spanish Data Protection Agency (AEPD) suspended Worldcoin from collecting user iris data for three months. During this time, the agency will investigate whether Worldcoin collected data from minors.
Even so, this is not preventing Worldcoin from expanding. They recently launched an Ethereum layer-2 platform to ease their operations, prioritizing verified users over bots.
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OpenAI Faces New Privacy Complaint in Austria
Meanwhile, OpenAI was recently sued by a data rights protection group in Austria, Noyb, for allegedly violating European Union (EU) privacy regulations.
Noyb filed a privacy complaint against Open AI, alleging that ChatGPT provides false information about people and fails to correct.
🚨 noyb has filed a complaint against the ChatGPT creator OpenAI
OpenAI openly admits that it is unable to correct false information about people on ChatGPT. The company cannot even say where the data comes from.
Read all about it here 👇https://t.co/gvn9CnGKOb
— noyb (@NOYBeu) April 29, 2024
In a filing, their lawyer said any AI system, including ChatGPT, must generate data about individuals only accurately and transparently.
Before then, OpenAI’s partnership with Microsoft sparked investigation threats from the EU. Officials were cautious that this deal would give Microsoft an unfair advantage.
In turn, this will lead to a monopoly that might even stifle innovation in AI. The purpose of the partnership, Satya Nadella, the CEO of Microsoft, said, was to “responsibly advance cutting-edge AI research and democratize AI as a new technology platform.”
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
