What is Worldcoin:The Eyeball-Scanning Crypto Project
In the ever-evolving world of cryptocurrencies, a new player has emerged, promising to revolutionize the way we perceive digital currencies and identity verification. Worldcoin, a project spearheaded by OpenAI’s Sam Altman, is an ambitious endeavor that aims to create a new financial network and identity system owned by everyone. This article will delve into the details of Worldcoin, its key features, and its potential applications.
Table of Contents
What is Worldcoin?
Worldcoin is a unique cryptocurrency project that combines digital identity verification with a digital currency. At its core, Worldcoin consists of a privacy-preserving digital identity, known as World ID, and a digital currency (WLD), which users receive simply for being human. The project’s goal is to drastically increase economic opportunity, enable global democratic processes, and potentially pave the way for an AI-funded Universal Basic Income (UBI).
The Worldcoin project is built around an eye-scanning device known as the “Orb,” which verifies users’ identities by scanning their eyes. This unique approach to identity verification aims to distinguish real humans from AI online, addressing one of the most pressing challenges posed by the advancements in artificial intelligence.
Who is Sam Altman?
Sam Altman is a renowned entrepreneur and the co-founder of Worldcoin. He is also the CEO of OpenAI, a leading artificial intelligence research lab. Altman’s vision for Worldcoin is to create a global-scale alignment that can share the benefits of technological prosperity broadly.
Key Features of Worldcoin
- World ID: A privacy-preserving digital identity that verifies a user’s uniqueness.
- Orb: A biometric verification device that scans a user’s eye to create their unique World ID.
- World App: The first protocol-compatible wallet where users can reserve their share of Worldcoin.
- Worldcoin (WLD): The digital currency users receive for being human.
How to Download Worldcoin App?
- Visit the official Worldcoin website.
- Navigate to the download section.
- Choose the version compatible with your device (iOS or Android).
- Click on the download button.
- Once downloaded, install the app on your device.
How to Use Worldcoin?
- Open the Worldcoin app on your device.
- Follow the on-screen instructions to set up your account.
- Visit an Orb to get your eye scanned and receive your World ID.
- Once your World ID is verified, you will receive your share of Worldcoin (WLD).
- You can now use the Worldcoin app to make transactions using WLD.
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How do l sign up for World ID?
- Download and open the Worldcoin app.
- Click on the “Sign Up” button.
- Visit an Orb for an eye scan.
- Your unique iris code will be generated and your World ID will be created.
- Your World ID is now ready for use.
Application of Worldcoin
- Economic Opportunity: By providing a digital currency for being human, Worldcoin aims to increase economic opportunities for everyone.
- Identity Verification: The World ID system can be used to verify a person’s uniqueness, distinguishing real humans from AI online.
- Global Democratic Processes: Worldcoin could potentially enable global democratic processes by providing a universally accessible identity verification system.
When does Worldcoin launch? And what does that mean?
Worldcoin officially launched on July 24, 2023. The launch signifies the beginning of the global rollout of Worldcoin’s services, including the World ID and the Worldcoin (WLD) currency. With the launch, Worldcoin aims to ramp up its operations to 35 cities across 20 countries.
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Is my data secure?
Worldcoin places a high emphasis on data security and privacy. The images collected by the Orb are used to generate a unique iris code and are immediately deleted once the iris code is created, unless the user opts into Data Custody. Importantly, Worldcoin does not sell any personal data, including biometric data. All personal data shared with Worldcoin is encrypted in transit and at rest.
Conclusion
Worldcoin represents a bold step forward in the world of cryptocurrencies. By combining digital identity verification with a digital currency, it aims to create a more inclusive and equitable financial system. While the project has faced its share of criticism, its potential to revolutionize the way we perceive digital currencies and identity verification cannot be ignored. As Worldcoin continues to roll out its services globally, it will be interesting to see how it shapes the future of digital currencies and identity verification.
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