More than three years ago, Worldcoin was founded with a grand ambition: to create a novel identity and financial network that would be collectively owned by everyone. Today marks the commencement of their long-awaited rollout. Should this endeavor prove successful, it is believed that Worldcoin has the potential to revolutionize economic opportunities, establish a reliable means of differentiating humans from AI in the online realm while safeguarding privacy, facilitate global democratic processes, and ultimately pave the way for a potential path to AI-funded Universal Basic Income (UBI).
Worldcoin’s core components encompass a privacy-preserving digital identity known as “World ID,” as well as a digital currency referred to as “WLD,” which is distributed solely based on a person’s human status, where permissible by law. The creators of Worldcoin express their hope that, in regions where regulations are less clear, such as in the United States, measures will be taken to ensure that a greater number of individuals can reap the benefits of both innovations.
Worldcoin is currently developing several products:
- World ID: A privacy-protecting digital identification system designed to address various crucial identity-related issues, including proving an individual’s uniqueness.
- Worldcoin Token: The first globally distributed and free token provided to everyone, intended for future utility and governance purposes, available to individuals as unique entities.
- World App: A complete self-custodial asset-holding application enabling global payments, purchases, and transfers using Worldcoin tokens, digital assets, stablecoins, and traditional currencies.
Worldcoin was founded by Sam Altman, the CEO of OpenAI, and Alex Blania.
Sam Altman is the CEO of OpenAI and was formerly the President of Y Combinator, a renowned startup accelerator and incubator. Alex Blania is the CEO and co-founder of Worldcoin, contributing to the construction and development of this project.
There are some concerns on data collection of WorldCoin could be used for dark purposes.