Worldcoin (WLD)

About Worldcoin

What is Worldcoin?

Worldcoin (WLD) is a digital currency project that strives to establish a large-scale identity and financial network. The system is built around World ID, a privacy-preserving global identity network that enables users to verify their humanness online while maintaining their privacy. To engage with the Worldcoin protocol, individuals must first download the World App, a wallet app that supports the creation of a World ID. The World ID is then verified by a physical imaging device called the Orb. The WLD token is designed as a utility token with governance properties, aiming to empower users by giving them a say over the future of the protocol.

How does Worldcoin work?

Worldcoin operates around the World ID, a global identity network that preserves user privacy. Individuals can prove their uniqueness and humanness to any platform that integrates with the protocol. To engage with the Worldcoin protocol, individuals download the World App, a wallet app that supports the creation of a World ID. Individuals then visit a physical imaging device called the Orb to get their World ID verified. The Orb uses multispectral sensors to verify humanness and uniqueness, with all images being promptly deleted on-device by default. The WLD token is an ERC-20 token on Ethereum, and WLD transactions are intended to take place on the Optimism network.

What are the potential use cases for Worldcoin?

Worldcoin aims to increase global economic opportunity by providing universally-accessible decentralized financial and identity infrastructure. The World ID can enable fair airdrops, protect against bots/sybil attacks, and enable the fairer distribution of limited resources. It can also enable global democratic processes and novel forms of governance. Users may decide to use the WLD token to pay for certain actions in World App or another wallet app, to make other payments, or to signal their approval for certain initiatives or causes.

What is the history of Worldcoin?

Worldcoin was founded by Sam Altman, Alex Blania, and Max Novendstern. Sam Altman, the most well-known of the co-founders, is also the co-founder and current CEO of OpenAI and former president of Y Combinator, a startup incubator. Initial research and development for the Worldcoin project was conducted by Tools for Humanity (TFH) and other partners. Worldcoin has garnered substantial support across several funding rounds from backers such as a16z, Khosla Ventures, Bain Capital Crypto, Blockchain Capital, and Tiger Global, among others. A significant number of people from various countries across multiple continents have verified at an Orb during the pre-launch phase.