This Altcoin-Related Company Could Sign a Major Deal with Reddit, One of the Largest Social Media Platforms

Reddit, one of the largest social media platforms in the world, may open a new page in its user verification processes.

It has emerged that the company is considering using the eye-scan-based World ID system developed by Tools for Humanity, co-founded by OpenAI CEO Sam Altman. This is also a system that is linked to the World (WLD) altcoin.

The ongoing talks between Reddit and Tools for Humanity could pave the way for users on the platform to both remain anonymous and prove they are human, according to two sources familiar with the matter. The talks have gained momentum amid the rise of fake content generated by artificial intelligence online and the emergence of age-verification laws for social media in several countries.

Reddit CEO Steve Huffman said last month that due to AI-based threats and age verification regulations, the company will have to determine whether users are human and of a certain age. Huffman said that they will work with third-party providers to avoid collecting user data: “We will work to preserve both the humanity and anonymity of Reddit.”

The World ID is created with unique biometric data obtained from a user’s iris. This data is fragmented and stored on secret servers in different parts of the world. The system allows users to prove that they are a unique individual without revealing their identity. The identity verification process is completed with a World ID stored encrypted on the user’s phone. As a reward, users are given WLD tokens.

*This is not investment advice.

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