What is Worldcoin?
We are all witnessing the growth and evolution of digital finance. The innovation first started with blockchain and was followed by digital coins. In this continuously changing landscape, the emergence of the world coin has been found.
This development is now changing the traditional means of identity verification, understanding, and accessibility. Now the whole game revolves around the World Coin and the World Coin Orbs.
Introduction to Worldcoin Development
Irrespective of the financial status, nationality, or origin of a person, world coins are based on an open-source protocol. They are drafted for easy accessibility, opening the door to global attainability. This evolution brings digital ease, where individuals are not just participants but direct and active holders of their digital identities.
After three years of development, the digital ID platform Worldcoin officially announced its launch on July 2, 2023. It was co-founded by CEO Sam Altman, who founded OpenAI. This launch aims to provide verified World IDs, cryptocurrency tokens (Worldcoin), and a crypto wallet application.
According to WorldCoin, artificial intelligence has made it difficult to track the activity, content, artwork, and others that are made using humans or come from AI sources. To resolve this confusion, Worldcoin launched the concept of digital identities as ‘proof of personhood’.
Worldcoin utilizes the Worldcoin Orb, a biometric imaging device that is used to establish the unique identification of each individual using iris scanning. It creates personal and secured identification codes for a unique identity. Here, codes are saved on decentralized blockchain technology, which nullifies the chance of the occurrence of any malicious activity, fraud, or identity theft.
What is WorldCoin?
Worldcoin is a digital identification platform designed to ensure unique digital identities (digital passports) by verifying that the user is human, not a bot or an AI. This project was the most controversial topic in the cryptocurrency world. Worldcoin set its aim to build the world’s largest identity and financial network that can serve worldwide without any limitations.
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