BlockchainNews

Worldcoin expanding in Kenya through P2P Exchange and Crypto Education


Worldcoin, the cryptocurrency token project that was co-founded by Sam Altman, co-founder of Openai is expanding throughout Nairobi.

The organization is teaming with local organizations to provide access to the global digital economy and to offer educational resources to Kenyans about blockchain technology and emerging web3 technologies.

One of the key features of Worldcoin’s entry into Kenya is the launch of a peer-to-peer (P2P) exchange that allows individuals to quickly and easily access digital currencies and US dollars directly with one another, without the need for a centralized third party to facilitate the transactions. This P2P exchange is developed by Tools for Humanity (TFH), a technology company that supports the Worldcoin protocol.

Since its pilot phase, Worldcoin says it has garnered over 360,000 sign-ups and the World App has been downloaded over 1,200 times per day.

With 16 locations across Nairobi, the product provides Kenyans with access to the USD and cryptocurrencies, which were previously limited and expensive to acquire. The P2P agents are also Worldcoin Operators, providing an added layer of transparency and trust.

This expansion to Kenya comes just days after the company launched World ID, an AI-resistant protocol that will allow the verification of the identity of humans online through an iris scan.

Worldcoin, in a blog post, said advancements in AI make it difficult to distinguish between AI and humans on the internet, highlighting a need for authentic human recognition and verification.

”The capabilities of AI are rapidly approaching those of humans and have already surpassed them in many niche areas,” it says.

To address these challenges, World ID protocol uses zero-knowledge proofs in connection with biometric data provided by the irises of the users.  Wordcoin states that the protocol will be private, self-sovereign, and decentralized, allowing users to have control over the utilization of their id data, while protecting the distribution of resources.

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Nixon Kanali

Tech journalist based in Nairobi. I track and report on tech and African startups. Founder and Editor of TechTrends Media. Nixon is also the East African tech editor for Africa Business Communities. Send tips to nkanali@techtrendske.co.ke.

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