Worldcoin (WLD) is captivating investors as the token exhibits remarkable performance in the current market landscape. Despite the market experiencing a slight pullback today, WLD surged by an impressive 31% since last week, showcasing a significant increase in value as the protocol continues to broaden its services.
Worldcoin’s identity-proving technology is progressing rapidly. This week alone, several developments have piqued the interest of retail investors. If this trend continues in tandem with the market’s seemingly persistent bullishness, WLD is poised to gain substantial traction in the long term.
Worldcoin Services Expand to Three New Countries
In a recent blog post, Worldcoin announced the expansion of its World ID services to three new countries: Guatemala, Poland, and Malaysia. This decision was influenced by the surprisingly swift advancement of artificial intelligence (AI) technology and its potential use in global fraud.
Worldcoin’s proactive approach to individual privacy aims to combat this issue by providing a decentralized method for verifying someone’s identity using the platform’s novel proof-of-personhood approach detailed in their whitepaper.
In Guatemala alone, the majority of the population has expressed a growing need to determine whether they are communicating with a human or a bot. According to Worldcoin, 83% of the country desires to know if the content they are viewing was created by AI, 84% are concerned about the rapid advancement in AI technology making it harder to distinguish humans from bots, and 88% support technologies that verify whether the entity they are interacting with is human or a bot.
With the increasing integration of AI into daily life, Worldcoin’s technology could play a crucial role in safeguarding individual privacy. Starting September 25, orbs, which are physical locations where individuals can verify their identity, will be available in Guatemala. Currently, there is no word on further deployment in Poland, but the World ID service has already been announced in Malaysia earlier this week.
Possible Pullback to Occur Later This Week
While WLD has experienced exponential growth, it may face a potential hindrance as the bullish momentum appears to have been exhausted. This leaves room for the token to either stagnate or decline in the coming days.
The token’s relative strength index (RSI) indicates that WLD might exhibit weakness within the next 72 hours, as continuing the upward trajectory could negatively impact future gains. Nevertheless, investors holding WLD for the long term still have a solid foundation to rely on, as the continued development of the platform ensures its relevance in an increasingly AI-dependent world.
As Worldcoin continues to advance its services and identity-proving technology, it stands poised to make significant strides in the cryptocurrency and AI sectors. Investors and users alike should keep a close watch on this innovative platform as it navigates the dynamic landscape of digital identity and privacy.
