Worldcoin, a new digital passport called the World ID, is making waves in the cryptocurrency world. The brainchild of Sam Altman, Worldcoin aims to offer a decentralized and private way for internet users to verify their identities online. The project claims to provide a global digital passport that can be stored on users’ phones, allowing them to prove they are not robots without revealing personal identifying information like phone numbers.
To attract users, Worldcoin released a gas-free crypto wallet for verified humans, eliminating transaction fees. The project asks for either a phone number or an iris scan, with the assurance that no personal data is stored. Instead, it generates a zero-knowledge proof that verifies human identity while keeping the underlying data secret.
With its unique concept, Worldcoin has garnered significant attention, prompting several crypto trading platforms like Binance, Bybit, OKX, Gate, and Huobi to announce the listing of the WLD token. However, the project has also faced setbacks, with a fake Worldcoin token scamming unsuspecting buyers.
Despite some skepticism, Worldcoin has attracted more than two million people to sign up for the World ID. Altman expressed his vision of creating a global financial and identity network based on proof of personhood, highlighting the importance of such a system in the era of AI. In fact, Vitalik Buterin, the co-founder of Ethereum, endorsed Worldcoin, believing it could be used to distribute universal basic income (UBI) in the future using proof-of-personhood protocols.
However, not everyone is on board with Altman’s vision. Former Twitter CEO and Bitcoin supporter Jack Dorsey expressed his opposition to the idea, stating that no corporation or state should own any part of the global financial system. He emphasized the need for private control and direction over the system, rather than relying on centralized entities.
Worldcoin managed to secure $115 million to support its decentralized ID system and crypto wallet called the World App, leveraging the growing concern about AI’s impact on privacy and the need for individuals to take control of their identities.
As Worldcoin continues to gather momentum, it remains to be seen whether it can achieve its goal of two billion users. Altman hopes that his project can contribute to discussions surrounding access, benefits, and governance of future AI systems, paving the way for a new era of financial and identity networks.
In a world that increasingly values privacy and control over personal information, Worldcoin’s global digital passport offers an intriguing solution. While there are concerns and criticisms surrounding the project, its potential impact on identity verification in the digital realm cannot be ignored. As more users join the World ID platform, the conversation around decentralized and private identity verification is set to grow, shaping the future of online interactions.
