Overview
Worldcoin, initially branded as a decentralized identity network, was co-founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania. The project’s mission is to establish a globally inclusive financial and identity system accessible to all, with a particular focus on combating the proliferation of AI through proof of human identity. The project is managed by Tools for Humanity, a technology company dedicated to advancing this vision.
Core Components
World ID
World ID is a privacy-centered, digital identity that allows users to verify their humanness without disclosing sensitive personal data. This digital ID is generated through Worldcoin’s biometric device, known as the “Orb,” which scans users’ irises to produce a unique, encrypted code. World ID is created and stored using advanced privacy-preserving techniques, including Secure Multi-Party Computation (SMPC) and zero-knowledge proofs (ZKPs). Users can utilize World ID for secure and anonymous identity verification across various platforms, including web3 applications, with assurances of privacy and control over their data.
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.
