Although founded three years ago, Worldcoin is a “new identity and financial network owned by everyone.” Worldcoin consists of two components, a privacy centered digital identity (World ID), a type of digital passport to access online services and a digital currency (WLD) received for human identity.
The process for Worldcoin involves global access through biometric verification technology:
You can now download World App, the first protocol-compatible wallet, and reserve your share. After visiting an Orb, a biometric verification device, you will receive a World ID. This lets you prove you are a real and unique person online while remaining completely private.
Worldcoin is designed to increase economic opportunity, scale a reliable solution for distinguishing humans from AI online while preserving privacy, enable global democratic processes and eventually show a potential path to AI-funded UBI. Although according to Worldcoin, the goal is “an attempt at global scale alignment,” the “journey will be challenging and the outcome is uncertain.”