Worldcoin is a digital identification platform that aims to provide each person on earth with a convenient way to verify that they are a real human and not a bot or an AI algorithm.
The company building Worldcoin—Tools for Humanity—was co-founded by Sam Altman, who is better known for creating ChatGPT. Worldcoin verifies your identity by scanning your iris and creating a unique code. It also offers a cryptocurrency token, Worldcoin (WLD), and a crypto wallet app.
Worldcoin was founded with the mission of creating a globally-inclusive identity and financial network, owned by the majority of humanity. If successful, the project could considerably increase economic opportunity, scale a reliable solution for distinguishing humans from AI online while preserving privacy, enable global democratic processes, and show a potential path to AI-funded UBI.
As of Feb. 28, 2024, the WLD token price is $7.2958. Over the past five months, the token price has seen a significant increase of 402%, with a price increase of 184.4% in the last 7 days. Please note that cryptocurrency prices are highly volatile and can change rapidly. Always conduct your own research and consult with a qualified investment professional before making any investment decisions.
Worldcoin has faced several challenges since its inception. The project has been criticized for its use of iris scanning technology, with concerns raised about privacy and data security. In addition, Worldcoin has reportedly shut operations in at least seven countries.
Co-founder Alex Blania acknowledged that things are far from perfect at the project, citing uneven smartphone access, and local issues with operators and regulations as some of the problems. In August 2023, Kenya, one of the first countries where the project was launched, suspended its enrollment in the country, citing security, privacy, and financial concerns.
In conclusion, Worldcoin represents an ambitious attempt to create a globally-inclusive identity and financial network. Despite facing several challenges, the project continues to push forward with its mission. As with any new technology, it will be interesting to see how Worldcoin evolves and navigates the challenges ahead.