Worldcoin

Worldcoin aims to create a global identity and financial network that provides universal access to the digital economy, ensuring privacy and decentralization. It seeks to establish a reliable method for distinguishing humans from AI online and to facilitate equitable economic participation.

To participate, individuals can download the World App and visit a nearby Orb location to verify their identity through an iris scan. Upon verification, users receive a unique World ID and can claim WLD tokens, contributing to the network's growth and security.

Worldcoin differentiates itself through its use of biometric verification to ensure unique human identities, its commitment to privacy-preserving technologies, and its goal of providing a universal basic income via cryptocurrency distribution.

Worldcoin employs advanced cryptographic techniques, such as zero-knowledge proofs, to protect user data. Additionally, the project has implemented secure multi-party computation (SMPC) systems to enhance the security and privacy of biometric data, including iris scans.

Potential risks include regulatory scrutiny due to privacy concerns, as evidenced by investigations and suspensions in various countries. Users should also be aware of the inherent volatility in cryptocurrency markets and the importance of safeguarding their biometric data.