Worldcoins

Worldcoin is a cryptocurrency project co-founded by Sam Altman, the CEO of OpenAI, and Alex Blania. The project's primary goal is to establish a global, decentralized digital currency. A key component of the Worldcoin ecosystem is the World ID, a digital identity that aims to verify human uniqueness. This verification process involves the use of a unique hardware device called an "orb" which scans a person's iris. Once verified, individuals receive Worldcoin's native cryptocurrency, known as WLD.

The project's whitepaper, released in 2023, outlines a three-stage plan. The first stage involves distributing WLD tokens to users who have verified their World ID. The second stage focuses on building the Worldcoin protocol and its ecosystem, encouraging developers to create applications that utilize World ID for various purposes, such as preventing bots online or enabling democratic voting systems. The third stage envisions the full decentralization of the Worldcoin protocol, where no single entity has control.

Worldcoin has faced both praise and criticism. Supporters highlight its potential to address issues of inequality and provide a universal basic income, especially as artificial intelligence advances. Critics, however, have raised concerns regarding privacy due to the iris scanning technology, the potential for mass surveillance, and the concentration of power within the project's early development. The long-term impact and adoption of Worldcoin remain subjects of ongoing debate.