Worldcoin

World App

The World App functions as the official wallet for Worldcoin, enabling users to manage their digital identity and transactions within the Worldcoin ecosystem. It supports the World ID and allows users to receive WLD tokens. As of recent updates, the app is available for users outside the United States and certain restricted regions, adhering to regulatory and geographic compliance.

World Chain

The World Chain is a proprietary blockchain optimized for scalability and inclusivity, designed to support the Worldcoin protocol. The chain underpins Worldcoin’s decentralized identity and currency functions, facilitating secure and efficient transaction processing and identity verifications at a global scale.

WLD Token

The WLD token is Worldcoin’s native cryptocurrency. Its distribution model includes incentivizing new users to join the network by issuing tokens upon verification via the Orb. However, due to regulatory constraints, WLD tokens are not accessible to users in certain jurisdictions, including the United States.

Privacy and Security

Worldcoin has developed a privacy framework anchored in four key principles: anonymity, security, transparency, and control. All biometric data collected through Orbs is encrypted and split across multiple storage locations, reducing the risk of misuse or unauthorized access. The system’s use of SMPC and ZKPs ensures that no single entity has access to the complete biometric data. Furthermore, Worldcoin is designed so that users retain control over their data, which is stored securely on their devices and remains inaccessible to third-party applications without explicit consent.

Applications and Potential Use Cases

Worldcoin envisions applications that extend beyond cryptocurrency and digital identity. Its World ID system provides a solution for distinguishing between humans and AI, which is increasingly relevant as AI-generated content becomes more prevalent. Worldcoin’s infrastructure supports potential integrations with social media, e-commerce, and democratic participation platforms, providing a secure, verifiable identity layer.

AI-Driven Universal Basic Income (UBI)

Worldcoin proposes a long-term vision of using AI to fund UBI by distributing WLD tokens as an economic safety net. This goal remains a future ambition, as the ecosystem aims to ensure equitable access to economic resources on a global scale.

Legal and Regulatory Challenges

Worldcoin has faced scrutiny over its biometric data collection practices, leading to regulatory restrictions in certain countries, including Spain and Portugal, where data collection activities have been suspended. These regulatory hurdles underscore ongoing concerns about privacy and data security, requiring Worldcoin to adapt its operational framework in compliance with regional data protection laws.