Worldcoin (WLD)
In this module, we will delve into the Worldcoin project and its mission to distribute coins to every person on Earth. We will explore the unique approach of providing a universal basic income through Worldcoin, aiming for widespread distribution and financial inclusion. Understanding the project's use of facial recognition technology for identity verification, we will analyze the potential impact of such an ambitious endeavor. By the end of this module, you will have a comprehensive understanding of the Worldcoin project and its vision for promoting wealth distribution and financial access globally.
Worldcoin is an innovative cryptocurrency project that leverages iris biometric technology for authentication. The project was developed by Tools for Humanity, a company based in San Francisco and Berlin, and was founded in 2019 by OpenAI chief executive Sam Altman, Max Novendstern, and Alex Blania. It has received backing from venture capital firm Andreessen Horowitz.
The Worldcoin token (WLD) is intended to be a significant part of a more unified and equitable global economy driven by the internet. The token is a Layer 2 Ethereum-based cryptocurrency that leverages the security of the Ethereum blockchain while having its own economy.
Worldcoin’s mission is to provide a reliable way to authenticate humans online, countering bots and fake virtual identities facilitated by artificial intelligence. This is achieved through a unique distribution mechanism for its cryptocurrency that is similar to Universal Basic Income (UBI). Worldcoin incentivizes users to join its network by getting their iris scanned using Worldcoin’s orb-shaped iris scanner, a process known as World ID.
The project has seen substantial financial backing. In October 2021, it raised an initial $25 million, and within six months, an additional $100 million was raised, pushing the token’s value up to $3 billion. In May 2023, further funding of $115 million was announced, intended for investment into bot detection, research and development, and expanding the Worldcoin project and application.
Despite its ambitious goals and substantial backing, Worldcoin has faced controversy. A report from MIT Technology Review in April 2022 highlighted Worldcoin’s controversial practices in low-income countries, suggesting that Worldcoin takes advantage of impoverished people to grow its network. In May 2023, TechCrunch reported that hackers had been able to steal login credentials of several of Worldcoin’s operators’ personal devices, including their credentials to the Worldcoin operator app.
Worldcoin officially launched out of beta on July 24, 2023, with 11 orb locations in the U.S. and plans for 35 cities in 20 countries. As of its launch, Worldcoin was reported to have onboarded approximately two million users. Despite the challenges and controversies, Worldcoin continues to push forward with its mission to distribute coins to every person on Earth.
Main Features
The main features of Worldcoin include a privacy-preserving digital identity known as World ID and a digital currency (WLD) that is received simply for being human. The World ID is a unique identifier that allows users to prove they are real and unique individuals online while maintaining complete privacy. This is achieved through a biometric verification process involving Worldcoin’s orb-shaped iris scanner.
Worldcoin’s digital currency, WLD, is intended to be a significant part of a more unified and equitable global economy driven by the internet. The token is a Layer 2 Ethereum-based cryptocurrency that leverages the security of the Ethereum blockchain while having its own economy. However, it is not available in the USA.
The World App is the first protocol-compatible wallet for Worldcoin. Users can download the World App and reserve their share of Worldcoin. After visiting an Orb, users will receive a World ID, enabling them to join the Worldcoin network.
The global distribution of Orbs is currently ramping up, allowing more people to access the Worldcoin network. Users can find the closest Orb and book a time to be verified using the World App or through the Worldcoin website.
Worldcoin represents an attempt at global scale alignment. The journey is expected to be challenging and the outcome is uncertain. However, the project’s founders, Alex Blania and Sam Altman, believe that finding new ways to broadly share the coming technological prosperity is a critical challenge of our time.
Despite the challenges and controversies, Worldcoin continues to push forward with its mission to distribute coins to every person on Earth. The project invites everyone to join in this ambitious endeavor, aiming to reshape the global economy and redefine digital identity.
Worldcoin and identity verification
Worldcoin’s approach to identity verification is centered around privacy and uniqueness. The system is designed to verify that each user is a unique individual without needing to know who they are. This is achieved through the use of Worldcoin’s Orb, a device that captures and processes images of the user and their unique iris pattern.
The Orb is capable of distinguishing users based on their iris patterns, which are unique to each individual and difficult to fake. This allows the Orb to accurately differentiate users without needing to collect any other information about them, not even their names. Importantly, the images of the user and their iris pattern are permanently deleted as soon as the user has signed up, unless the user opts into Data Custody, a feature designed to reduce the number of times a user may need to visit an Orb.
The Data Custody feature processes the user’s biometric data locally on the Orb and then permanently deletes it. The only data that remains is the IrisCode, a set of numbers generated by the Orb. This IrisCode is not linked to the user’s wallet or any personal information, effectively anonymizing the user. The IrisCode serves only to prevent the user from signing up again.
Worldcoin does not require users to provide personal information such as their name, email address, physical address, or phone number. This means that users can sign up without Worldcoin knowing anything about them. This level of privacy is only relevant to users who sign up at an Orb. Users who wish to participate in the Worldcoin network without visiting an Orb will not receive a World ID or their free share of Worldcoin.
The Worldcoin App, which serves as the user’s self-custodial wallet, does not require any personal information to get or use. The app is designed to give users complete control over their wallets, free from the influence of banks, governments, or corporations. Even if users do enter personal information into the app, Worldcoin assures that it will never sell or profit from that information.
Once a user has a World ID, they can use it to anonymously prove that they are a real and unique person. Developers, including Worldcoin itself, cannot see what the World ID has been used for in the past; they can only see what it is being used for when it is used. This is made possible by Zero-Knowledge Proofs, which prove both that the World ID is real and that the user has never performed the action they are trying to do before, without ever linking the World ID to the user.
Highlights
- Worldcoin is a cryptocurrency project that aims to create a new identity and financial network owned by everyone, potentially paving the way for AI-funded Universal Basic Income (UBI).
- The project’s main features include a privacy-preserving digital identity known as World ID and a digital currency (WLD) that is received simply for being human.
- World ID is a unique identifier that allows users to prove they are real and unique individuals online while maintaining complete privacy. This is achieved through a biometric verification process involving Worldcoin’s orb-shaped iris scanner.
- The World App is the first protocol-compatible wallet for Worldcoin. Users can download the World App and reserve their share of Worldcoin. After visiting an Orb, users will receive a World ID, enabling them to join the Worldcoin network.
- Worldcoin’s approach to identity verification is centered around privacy and uniqueness. The system is designed to verify that each user is a unique individual without needing to know who they are.
- The Data Custody feature processes the user’s biometric data locally on the Orb and then permanently deletes it. The only data that remains is the IrisCode, a set of numbers generated by the Orb. This IrisCode is not linked to the user’s wallet or any personal information, effectively anonymizing the user.
Урок 1:Introduction to Identity Tokens in Crypto
Урок 2:The Importance of Identity in Crypto
Урок 3:Worldcoin (WLD)
Урок 4:Civic (CVC)
Урок 5:Galxe (GAL)
Урок 6:Metadium (META)
Урок 7:KILT Protocol (KILT)
Урок 8:SelfKey (KEY)
Урок 9:Final Considerations on Identity Tokens
Worldcoin (WLD)
In this module, we will delve into the Worldcoin project and its mission to distribute coins to every person on Earth. We will explore the unique approach of providing a universal basic income through Worldcoin, aiming for widespread distribution and financial inclusion. Understanding the project's use of facial recognition technology for identity verification, we will analyze the potential impact of such an ambitious endeavor. By the end of this module, you will have a comprehensive understanding of the Worldcoin project and its vision for promoting wealth distribution and financial access globally.
Worldcoin is an innovative cryptocurrency project that leverages iris biometric technology for authentication. The project was developed by Tools for Humanity, a company based in San Francisco and Berlin, and was founded in 2019 by OpenAI chief executive Sam Altman, Max Novendstern, and Alex Blania. It has received backing from venture capital firm Andreessen Horowitz.
The Worldcoin token (WLD) is intended to be a significant part of a more unified and equitable global economy driven by the internet. The token is a Layer 2 Ethereum-based cryptocurrency that leverages the security of the Ethereum blockchain while having its own economy.
Worldcoin’s mission is to provide a reliable way to authenticate humans online, countering bots and fake virtual identities facilitated by artificial intelligence. This is achieved through a unique distribution mechanism for its cryptocurrency that is similar to Universal Basic Income (UBI). Worldcoin incentivizes users to join its network by getting their iris scanned using Worldcoin’s orb-shaped iris scanner, a process known as World ID.
The project has seen substantial financial backing. In October 2021, it raised an initial $25 million, and within six months, an additional $100 million was raised, pushing the token’s value up to $3 billion. In May 2023, further funding of $115 million was announced, intended for investment into bot detection, research and development, and expanding the Worldcoin project and application.
Despite its ambitious goals and substantial backing, Worldcoin has faced controversy. A report from MIT Technology Review in April 2022 highlighted Worldcoin’s controversial practices in low-income countries, suggesting that Worldcoin takes advantage of impoverished people to grow its network. In May 2023, TechCrunch reported that hackers had been able to steal login credentials of several of Worldcoin’s operators’ personal devices, including their credentials to the Worldcoin operator app.
Worldcoin officially launched out of beta on July 24, 2023, with 11 orb locations in the U.S. and plans for 35 cities in 20 countries. As of its launch, Worldcoin was reported to have onboarded approximately two million users. Despite the challenges and controversies, Worldcoin continues to push forward with its mission to distribute coins to every person on Earth.
Main Features
The main features of Worldcoin include a privacy-preserving digital identity known as World ID and a digital currency (WLD) that is received simply for being human. The World ID is a unique identifier that allows users to prove they are real and unique individuals online while maintaining complete privacy. This is achieved through a biometric verification process involving Worldcoin’s orb-shaped iris scanner.
Worldcoin’s digital currency, WLD, is intended to be a significant part of a more unified and equitable global economy driven by the internet. The token is a Layer 2 Ethereum-based cryptocurrency that leverages the security of the Ethereum blockchain while having its own economy. However, it is not available in the USA.
The World App is the first protocol-compatible wallet for Worldcoin. Users can download the World App and reserve their share of Worldcoin. After visiting an Orb, users will receive a World ID, enabling them to join the Worldcoin network.
The global distribution of Orbs is currently ramping up, allowing more people to access the Worldcoin network. Users can find the closest Orb and book a time to be verified using the World App or through the Worldcoin website.
Worldcoin represents an attempt at global scale alignment. The journey is expected to be challenging and the outcome is uncertain. However, the project’s founders, Alex Blania and Sam Altman, believe that finding new ways to broadly share the coming technological prosperity is a critical challenge of our time.
Despite the challenges and controversies, Worldcoin continues to push forward with its mission to distribute coins to every person on Earth. The project invites everyone to join in this ambitious endeavor, aiming to reshape the global economy and redefine digital identity.
Worldcoin and identity verification
Worldcoin’s approach to identity verification is centered around privacy and uniqueness. The system is designed to verify that each user is a unique individual without needing to know who they are. This is achieved through the use of Worldcoin’s Orb, a device that captures and processes images of the user and their unique iris pattern.
The Orb is capable of distinguishing users based on their iris patterns, which are unique to each individual and difficult to fake. This allows the Orb to accurately differentiate users without needing to collect any other information about them, not even their names. Importantly, the images of the user and their iris pattern are permanently deleted as soon as the user has signed up, unless the user opts into Data Custody, a feature designed to reduce the number of times a user may need to visit an Orb.
The Data Custody feature processes the user’s biometric data locally on the Orb and then permanently deletes it. The only data that remains is the IrisCode, a set of numbers generated by the Orb. This IrisCode is not linked to the user’s wallet or any personal information, effectively anonymizing the user. The IrisCode serves only to prevent the user from signing up again.
Worldcoin does not require users to provide personal information such as their name, email address, physical address, or phone number. This means that users can sign up without Worldcoin knowing anything about them. This level of privacy is only relevant to users who sign up at an Orb. Users who wish to participate in the Worldcoin network without visiting an Orb will not receive a World ID or their free share of Worldcoin.
The Worldcoin App, which serves as the user’s self-custodial wallet, does not require any personal information to get or use. The app is designed to give users complete control over their wallets, free from the influence of banks, governments, or corporations. Even if users do enter personal information into the app, Worldcoin assures that it will never sell or profit from that information.
Once a user has a World ID, they can use it to anonymously prove that they are a real and unique person. Developers, including Worldcoin itself, cannot see what the World ID has been used for in the past; they can only see what it is being used for when it is used. This is made possible by Zero-Knowledge Proofs, which prove both that the World ID is real and that the user has never performed the action they are trying to do before, without ever linking the World ID to the user.
Highlights
- Worldcoin is a cryptocurrency project that aims to create a new identity and financial network owned by everyone, potentially paving the way for AI-funded Universal Basic Income (UBI).
- The project’s main features include a privacy-preserving digital identity known as World ID and a digital currency (WLD) that is received simply for being human.
- World ID is a unique identifier that allows users to prove they are real and unique individuals online while maintaining complete privacy. This is achieved through a biometric verification process involving Worldcoin’s orb-shaped iris scanner.
- The World App is the first protocol-compatible wallet for Worldcoin. Users can download the World App and reserve their share of Worldcoin. After visiting an Orb, users will receive a World ID, enabling them to join the Worldcoin network.
- Worldcoin’s approach to identity verification is centered around privacy and uniqueness. The system is designed to verify that each user is a unique individual without needing to know who they are.
- The Data Custody feature processes the user’s biometric data locally on the Orb and then permanently deletes it. The only data that remains is the IrisCode, a set of numbers generated by the Orb. This IrisCode is not linked to the user’s wallet or any personal information, effectively anonymizing the user.