Last Updated on by Sabina
Worldcoin is a digital identity and financial network. That aims to establish universal access to the global economy regardless of country or background. It is designed to become the world’s largest human identity and financial network, giving ownership to everyone.
The Worldcoin project is led by Sam Altman, the former CEO of Y Combinator, and is backed by a number of prominent investors, including Andreessen Horowitz, Peter Thiel, and Naval Ravikant.
It works by using a device called an Orb to scan a person’s iris. The Orb then generates a unique identifier for the person, which is used to create a Worldcoin account. This account can then be used to access financial services, such as payments, loans, and insurance.
It has been met with some controversy, with critics arguing that it is a privacy ‘nightmare’ and that it could be used to track people’s movements. However, the Worldcoin team has said that the project is designed to be privacy-preserving, and that the iris scan data will not be used for any other purpose than to create Worldcoin accounts.
It is still too early to say whether Worldcoin will be successful, but it is an ambitious project with the potential to revolutionize the way we interact with the global economy.
Here are some of the key features of Worldcoin
Universal access to the global economy: It aims to make it possible for everyone on Earth to participate in the global economy, regardless of their country or background.
Decentralized identity: The uses a decentralized identity system, which means that people have control over their own data. This is in contrast to traditional centralized identity systems, where data is stored by third parties.
Financial inclusion: It aims to provide financial inclusion to people who are currently excluded from the financial system. This includes people who do not have access to traditional banking services.
Privacy-preserving: It is designed to be privacy-preserving. The iris scan data that is used to create Worldcoin accounts is not used for any other purpose.
How can I join Worldcoin?
- Download the World App from the App Store or Google Play.
- Open the app and follow the prompts to find a local Worldcoin Operator.
- Once you have found an Operator, book a time to be verified.
- When you arrive at the Operator’s location, they will scan your iris using an Orb device.
- Once your iris has been scanned, you will be given a Worldcoin account and a small amount of Worldcoin tokens.
You can find a list of Worldcoin Operators in your country on the Worldcoin website. The website also has a map that shows the location of all the Operators in the country.
Here are some additional things to keep in mind when joining:
- The project is still in its early stages, so it is possible that there may be some delays or challenges when joining the project in your country.
- The tokens that you receive are not currently worth anything, but they may be worth something in the future.
- The project has been met with some privacy concerns, so you should carefully consider whether or not you want to participate in the project.
How much is 1 Worldcoin worth?
As of August 2, 2023, 1 Worldcoin (WDC) is worth $0.0125. The price of Worldcoin has been fluctuating since its launch in 2022, but it has generally been on a downward trend.
There are a few reasons why the price of Worldcoin is so low. First, the project is still in its early stages, and there is not a lot of demand for the tokens yet. Second, there are some concerns about the privacy implications of the project, which could be deterring some investors.
However, there are also some reasons to be optimistic about the future. The project has a strong team of developers and investors, and it has the potential to revolutionize the way we interact with the global economy. If the project is successful, the price of Worldcoin could rise significantly in the future.
It is important to remember that the price of any cryptocurrency is volatile and can change rapidly. Therefore, it is not possible to predict with certainty how much 1 Worldcoin will be worth in the future.
