Worldcoin Project Launches

Worldcoin Project Co-founders Alex Blania (L) and Sam Altman (R) / IMAGE : The Worldcoin Foundation

The Worldcoin Foundation (the “Foundation”) today announced that the Worldcoin project completed the protocol’s migration to the OP Mainnet, unveiled plans to scale Orb sign ups for World ID to more than 35 cities across 20 countries globally and released the World ID SDK. In tandem, the Foundation’s subsidiary, World Assets Ltd., minted and released the Worldcoin token (WLD) to the millions of eligible people who participated in the beta; WLD is now transactable on the blockchain.☨

Tools for Humanity (TFH), a technology company building on the Worldcoin network, also today introduced a new release of World App, the first protocol-compatible wallet that currently allows individuals to reserve their share of the WLD digital currency, where laws permit.

“In the age of AI, the need for proof of personhood is no longer a topic of serious debate; instead, the critical question is whether or not the proof of personhood solutions we have can be privacy-first, decentralized and maximally inclusive,” said Worldcoin project co-founder and TFH CEO, Alex Blania, speaking from Berlin, Germany. “Through its unique technology, Worldcoin aims to provide anyone in the world, regardless of background, geography or income, access to the growing digital and global economy in a privacy preserving and decentralized way. These protocol-level aims align closely with ours for World App.”

It is estimated that 4.4 billion people worldwide lack a legal, digitally-verifiable identity. As a result, participation in the global economy and access to critical services like government aid, financial services and healthcare are drastically limited. Co-founders Sam Altman, Alex Blania and Max Novendstern conceived of the Worldcoin project with the ambition of equitably increasing economic participation and improving access to essential services in a way that’s privacy-preserving, decentralized, open source and centered around humanness.

The Worldcoin protocol’s decentralized identity and financial network was designed to unlock and equitably distribute the potentially massive economic implications of AI. If successful, the project could drastically increase economic opportunity, scale a reliable approach for distinguishing humans from AI online while preserving privacy, enabling global democratic processes and eventually providing a potential foundation for AI-funded universal basic income (UBI). The protocol currently consists of:

· World ID, a privacy-preserving digital identity designed to help solve important, identity-based challenges, including proving an individual’s unique personhood

· Worldcoin token (WLD), the first digital currency to be freely distributed to people just for being a unique human*

· World App, the first World ID-compatible app, developed and operated by Tools for Humanity, that enables payment, purchases and transfers globally using digital assets and fiat-backed stablecoins

“The aim of the Worldcoin Foundation is both philosophical and political: to realize more inclusive, fair and just institutions of governance and of the global digital economy, including by helping achieve certain targets of U.N. Sustainable Development Goal 16 (namely, 16.4, 16.5, 16.6, 16.7 and 16.9). This aim is shared by those who contribute to or have regular contact with the Worldcoin projects,” said the Foundation’s Board of Directors.