WLD – Biometric Cryptocurrency: Towards Global Equality? Worldcoin and the Universal Basic Income

Worldcoin is a cryptocurrency project created by OpenAI CEO Sam Altman and two other co-founders. The project aims to provide verified digital identities and financial access. The associated cryptocurrency is called “WLD” and was launched on the market.

What makes Worldcoin special is the introduction of “World ID,” a private digital identity authenticated through iris scanning. This identity verification allows real people to be distinguished from artificial intelligence (AI) and bots in the online space.

Worldcoin aims to create the largest identity and financial network in the world. It aims to improve economic opportunities, differentiate humans' online presence from AIs, and potentially lead to a universal basic income funded by AI. During the beta testing phase, the project recorded an impressive 2 million sign-ups for World ID.

Cryptocurrency Worldcoin (WLD) was listed on various cryptocurrency exchanges such as Binance and witnessed a sharp increase on the first day of trading. The price of WLD rose from an initial $1.70 to a high of $3.58 before settling at $2.52 in London. In total, about $145 million was traded in Worldcoin during the trading volume.

To promote the spread of Worldcoin, the project plans to issue a total of 10 billion WLD tokens. Of this, 8 billion will be reserved for distribution to the community through airdrops and 1 billion for the stability of the project.

Worldcoin aims to emphasize privacy, decentralization and inclusivity and was backed with $115 million in Series C funding from Tools for Humanity.

Although Worldcoin offers promising opportunities in terms of identity verification and financial inclusion, there are also challenges regarding regulatory uncertainties that result in the token not being available in the US.

Overall, Worldcoin shows a lot of potential to play a significant role in the cryptocurrency landscape as it aims to create a universal currency for global prosperity while promoting the privacy and independence of individuals. It remains to be seen how the project will develop and what impact it will have on the financial world.

Just try out our universally applicable (B2B/Business/Industrial) Metaverse configurator for all CAD / 3D demo options:

Xpert (B2B/Business/Industrial) Metaverse configurator for all CAD / 3D data can be used on all devices, one platform!

Suitable for:

• Industrial Metaverse configurator for all CAD / 3D demos

Worldcoin's vision: A universal basic income and digital identity for billions of people

Based in Germany, startup Worldcoin has an ambitious vision: introducing a Universal Basic Income (UBI) in exchange for individuals' digital identities, verified through iris scans. This groundbreaking idea was brought to life by Alex Blania and Sam Altman, co-founders of OpenAI. Worldcoin's main goal is to distribute cryptocurrency tokens to registered users on a monthly basis. The aim is to create a digital identity for billions of people who currently have no verifiable identification. But how exactly does the Worldcoin concept work and what challenges are associated with it?

How Worldcoin works

The Worldcoin system is based on an innovative approach: users are asked to verify their identity through iris scans. This creates a unique digital identity that serves as the basis for participation in the UBI program. Users who successfully register will periodically receive cryptocurrency tokens as part of the Universal Basic Income. This concept aims to bring financial support directly to people, without bureaucratic hurdles or lengthy procedures.

The vision for billions of people

One of the key aspects of Worldcoin is the expansion of digital identity to a global level. Many people around the world do not have access to official identification documents, which makes their participation in the modern economic and financial world much more difficult. Worldcoin has already made significant progress, successfully registering over two million users in countries such as Chile, Kenya, Indonesia and Sudan. Still, this is just the beginning as Worldcoin has the ambitious goal of building a user base of over a billion people worldwide.

Challenges and solutions

Of course, a project like Worldcoin also presents challenges that need to be overcome. One of the key hurdles is creating a secure World ID Blockchain Wallet that protects users' personal information while allowing smooth and efficient access to financial support. The use of biometric iris scans also requires a high level of privacy and security to prevent misuse and identity theft.

To meet these challenges, Worldcoin continually invests in the further development of its technology and relies on the latest encryption techniques. Collaboration with experts in the field of blockchain technology and cybersecurity plays a crucial role in ensuring a trustworthy and robust platform.

The future of Worldcoin

Despite the challenges, Worldcoin’s vision remains strong and confident. Creating a digital identity for billions of people and providing a universal basic income are revolutionary concepts that have the potential to sustainably improve the lives of many people. Worldcoin is committed to further increasing the number of registered users and building a strong global community that benefits from financial inclusion and equal opportunities.

➡️ Worldcoin has established itself as a pioneer in the field of digital identity and universal basic income. By combining identity verification using iris scans with the distribution of cryptocurrency tokens, Worldcoin is creating a groundbreaking platform that has the potential to transform the lives of billions of people worldwide.

➡️ Worldcoin's vision of creating a world where financial support flows directly to those who need it most without bureaucratic hurdles is impressive. Despite the challenges, Worldcoin is on a promising path to creating a sustainable and positive impact on society. Creating a digital identity and providing a universal basic income could not only improve economic participation, but also strengthen trust and cooperation in a globalized world.

➡️ It remains to be seen how Worldcoin will develop and what influence it will have on the world. However, with a strong team, an innovative vision and the support of OpenAI, Worldcoin is undoubtedly a company worth keeping an eye on.

Worldcoin, the fascinating cryptocurrency that is currently causing a lot of excitement

In this section, we will take an in-depth look at Worldcoin's characteristics and ambitions. We take a look at its extreme volatility and how this affects its potential as a speculative investment but at the same time as an unreliable payment method. We will also look at the concept of a possible “World ID” and how it fits into Worldcoin’s plans.

Worldcoin is undoubtedly a cryptocurrency that is currently making headlines. But it is precisely this popularity that goes hand in hand with extreme price fluctuations, which make it a highly speculative investment. As a payment method, however, Worldcoin has so far shown little reliability. This is because it is not pegged to fiat currencies such as the US dollar or the euro like some other cryptocurrencies, making it a volatile means of payment.

It is also important to mention that the actual value of the upcoming Worldcoin token is still unknown. This uncertainty is causing many investors to hold back for the time being because it is difficult to make a clear forecast. Worldcoin's long-term funding also remains unclear, with current funding coming primarily from venture capitalists.

Objective of Worldcoin

Despite the uncertainties and speculative nature of Worldcoin, there is a clear vision that drives the company. Worldcoin strives to enable all users to access and participate in the global economy. These ambitions are noble, but at the same time they lead to many questions regarding practical implementation.

World ID: A biometrically verified identity

An interesting concept that Worldcoin puts at the center of its vision is the so-called “World ID”. This is a biometrically verified identity that will be offered to around 2 million potential users. However, their practical use remains unclear at this time.

The connection to OpenAI's CEO Sam Altmann

Another aspect that is causing conversation is Worldcoin's connection to OpenAI CEO Sam Altmann. This connection raises questions about what Worldcoin's real goal might be and how it fits into OpenAI's vision.

➡️ It is undeniable that Worldcoin is currently a cryptocurrency with immense attention. But the future and actual benefits of Worldcoin still remain unclear. The extreme volatility makes it a highly speculative investment and complicates its role as a reliable payment method. The vision of giving all users access to the global economy is admirable, but it remains to be seen how Worldcoin will realize these ambitions.

➡️ How the story of Worldcoin will develop remains to be seen. At the moment it seems as if it is an ambitious project that still has many challenges to overcome, similar to the unrealized technology vision of the metaverse. It will be exciting to see how things develop and we will keep you updated.

➡️ In this article, we have gained a comprehensive insight into Worldcoin and its future prospects. The cryptocurrency shows high volatility, which makes it a high-risk investment and affects its function as a reliable means of payment. But despite the challenges, Worldcoin has an ambitious vision to make the global economy accessible to everyone.

➡️ The idea of ​​a biometrically verified identity and the connection to OpenAI's CEO raise additional questions. The future of Worldcoin remains uncertain, but it promises exciting developments in the world of cryptocurrencies. It remains to be seen how the project will develop and how it will achieve its ambitious goals.

➡️ Please note that investing in cryptocurrencies always involves risks and thorough research and advice is necessary before investing. We hope that this article has given you valuable insight into Worldcoin and we are happy to answer any further questions you may have.

➡️ Disclaimer: This article is for informational purposes only and does not constitute investment advice. We assume no liability for any financial decisions made based on this article.)*

Since July 2023, the Erlangen-based company Worldcoin has introduced its iris scanner called “Orb” onto the German market. Given the high priority that Germany places on data protection, Worldcoin sees this country as a crucial market. The scanner is well received because it respects privacy and uses biometric data exclusively for account creation. However, despite their advocacy of decentralization, Worldcoin currently requires access to specific Orb locations for registration, which is at odds with their intention to provide access for all. Worldcoin has been lobbying and plans to offer global money transfers without intermediaries through its World App. Still, the company remains centralized, as the Orbs and app are developed and operated exclusively by Tools for Humanity, although they promise to allow third-party Orbs in the future.

The revolutionary “Orb” iris scanner: A look into the future

Worldcoin’s launch of the “Orb” iris scanner marks a groundbreaking step in the world of biometric security technology. This futuristic device allows users to log in to various services effortlessly and securely by scanning their unique iris features, protecting them from identity theft and other security breaches. With an aesthetically pleasing, yet dystopian design, the “Orb” is not only functional, but also a real eye-catcher.

Data protection first: Worldcoin and the German users

Germany has established itself as a leader in privacy, and Worldcoin has taken these concerns into account when developing the “Orb” iris scanner. The scanner uses biometric data exclusively to create user accounts and stores this information securely and encrypted. This means that users' personal information will not be shared with third parties or misused for other purposes. This means that German users can use the “Orb” with the confidence that their privacy is protected.

Access for all: The challenge of decentralization

Although Worldcoin is committed to decentralization and has a vision of providing access for all, the company is currently facing a challenge. To register the “Orb” iris scanner, users need access to specific Orb locations. This raises the question of whether everyone in Germany really has equal access to this innovative technology. Worldcoin recognizes this limitation and is working hard to find a solution to make the “Orb” easily accessible to everyone.

The World App: Global money transfers without intermediaries

Another exciting aspect of Worldcoin's offering is the World App. This app allows users to transfer money worldwide without relying on traditional middlemen. This promises to make financial services more accessible to people in developing and emerging countries and reduce the costs of international transfers. The World App has the potential to improve the lives of many people and democratize access to financial services.

The challenge of centralization

Despite Worldcoin's ambitious goals and efforts to facilitate access, the company currently remains centralized. Both the Orbs and the World App are developed and operated exclusively by Tools for Humanity. This means that Worldcoin still has significant control over the technology and services they offer. However, the future may be hopeful as Worldcoin promises to allow third-party orbs, paving the way to a more decentralized structure.

The future of Worldcoin's “Orb” in Germany

Worldcoin's “Orb” iris scanner is undoubtedly a remarkable technological achievement that has the potential to revolutionize the way we identify ourselves and access services. With a clear focus on privacy and security, the “Orb” offers German users an enticing opportunity to improve their online experiences. As Worldcoin continues to work to overcome the challenges of decentralization and access, their efforts could lead to the “Orb” being accessible to everyone one day and the vision of a connected, secure and equal digital future in Germany becoming a reality.

(Consumer) Metaverse New territory for newbies – What you should know now – Image: Xpert.Digital

In today's digital world, terms such as blockchain, NFTs, wallets, cryptocurrencies and the metaverse have become increasingly present. For newcomers, these terms may seem confusing and complex at first. Here we try to explain these terms in an understandable way and give you important and interesting details about them.

More about it here:

• Metaverse new territory: The new Metaverse territory is revolutionizing our perception

Dekaverse – DekaBank is in the Metaverse Decentraland – Image: photo_gonzo|Shutterstock.com

The Dekaverse serves as a kind of testing ground for DekaBank and its customers to explore new technologies and bring them closer to people. The focus here is primarily on blockchain technology, one of the most important innovations in digitalization.

In Decentraland, users have the opportunity to explore how the blockchain works and learn about cryptocurrencies and NFTs. This provides a unique opportunity for those new to these technologies to learn about them and expand their understanding of them.

More about it here:

• New territory for newbies – Explore new technologies in Decentraland