I. Project Introduction and Financing Information

The development of artificial intelligence technology has been causing a sensation in various fields. However, Sam, the founder of OpenAI, is not just satisfied with the existing achievements. He is planning the next disruptive project - the cryptocurrency field "WorldCoin".

WorldCoin is a cryptocurrency project founded by Sam in 2020 with the aim of building a global, fair and open source financial protocol. According to a report by the McKinsey Global Institute, over 4.4 billion people worldwide currently lack a legally verified or digitally verifiable identity. WorldCoin's vision is to create the largest and fairest global digital identity and digital currency system. It has scanned the irises of millions of people and plans to go live in the first half of 2023 with a valuation of $3 billion and raise $120 million.

WorldCoin consists of three parts: Global ID (WorldID), Global Currency (WorldCoin) and Wallet (WorldAPP). Its tokens can interact with other digital assets and fiat currencies to complete payments, purchases and transfers. To quickly expand its financial network, WorldCoin plans to airdrop its tokens to 10 billion people worldwide. To prevent "witch attacks", WorldCoin chooses to directly verify real human identities. It has developed a biometric device called Orb to scan irises and verify a person's uniqueness while using zero-knowledge proofs to ensure security. Although iris scanning may raise concerns about privacy, WorldCoin has considered this issue in its design. The Orb device converts iris data into a unique identifier called IrisHash, which is done locally. This means that the original iris images are not stored or uploaded. This unique identifier is a short numeric code stored in a database to check if someone has already registered. WorldCoin does not need your identity and personal information. Orb scanning is only to confirm that you are a unique real person, regardless of who you are.

This is an important design decision because it means that WorldCoin can ensure that each person can only register once while respecting the user's privacy. The work to implement this project globally is carried out by WorldCoin operators. These operators are legally registered local companies that are required not to provide services to residents of countries with legal restrictions, such as the United States. This reflects WorldCoin's strict compliance requirements. Whenever an operator successfully helps a user complete registration, they receive a certain amount of WorldCoin as a reward. This is a common incentive mechanism to encourage operators to actively help more people register.

II. User and Operator Incentives

The total supply of WorldCoin is 10 billion. Most will be distributed to users and operators through airdrops to incentivize early participants. Less than 20% will be used to support early Orb developers, while 3% will be used for ongoing ecosystem building.

From a technical perspective, WorldCoin is closely linked to the Ethereum ecosystem. According to its documentation, it uses a technology called optimistic rollup, which can improve the speed and scale of blockchains. In addition, WorldCoin has built-in cross-chain capabilities and can interact with the Ethereum mainnet, other Layer 2 solutions such as Optimism and Arbitrum, and even blockchains that are incompatible with EVM, such as Solana and Polkadot.

WorldCoin is a vision to build the largest, fairest and most inclusive global digital identity and currency system dedicated to addressing inequality in global digital identity and currency systems. Although the project is still in the testing phase, its design and technical foundation show its great potential and prospects for development. In addition, the WorldCoin team is also following strict compliance standards and privacy protection principles to provide users with secure and reliable services. We look forward to the launch of this project, which will have a significant impact on the global digital financial sector.

WorldCoin's vision is somewhat like a science fiction movie plot, which makes people feel both excited and uneasy. Their vision is to issue cryptocurrency to every person in the world to advance a social experiment of universal participation in the crypto world. They are trying to use iris recognition technology to create a unique personal identifier to prevent fraud and ensure that each person can only register once. However, the practical application of this technology may face a series of challenges.

First, the implementation of iris scanning technology requires a lot of funding and technical investment. The deployment and maintenance of equipment and the processing and storage of data may become problems. Second, from a social and ethical perspective, iris recognition may raise concerns about privacy and security. Even if WorldCoin promises not to retain any personal identification information, the consequences could be serious if the data is leaked or misused.

In addition, WorldCoin's idea of "universal basic income" also raises operational issues. While the idea is theoretically appealing, it may face many difficulties in practice. For example, how do you determine how much cryptocurrency each person should get? Is the amount fixed or will it vary based on market conditions? If the latter, the system may become complex and difficult to manage. In addition, if everyone gets free cryptocurrency, it could lead to inflation and asset bubbles.

III. How to Get WorldCoin?

The way to get WorldCoin is different from most cryptocurrencies, not through mining or purchasing, but through a special device - the "Orb".

Orb is WorldCoin's hardware device, similar to a spherical camera, that can scan irises to confirm a person's identity. WorldCoin uses this method to ensure that each person can only get WorldCoin once to achieve its goal of fair distribution.

In the distribution of WorldCoin, the user of the Orb device needs to point their eyes at the device, which will perform a quick iris scan, then create a cryptocurrency wallet for the user and distribute a certain amount of WorldCoin to that wallet.

This distribution method is also a major innovation of WorldCoin, allowing everyone to access and obtain cryptocurrency without barriers. For many people who cannot access traditional financial services, this may be an opportunity to open the door to the digital economy.

However, this method has also raised some privacy issues. Although the WorldCoin team has stated that they will protect users' data as much as possible and iris data will be deleted immediately, some people worry that this method may be abused and infringe on users' privacy.

IV. Challenges Facing WorldCoin

WorldCoin's vision and approach are eye-catching but also face many challenges.

First, while WorldCoin firmly claims to protect users' privacy as much as possible, their iris scanning approach still raises concerns for many. Iris scanning is a very accurate biometric identification method and could threaten users' privacy if misused.

Second, WorldCoin needs a large population coverage to achieve its goals. This will require a lot of resources and time, and the current cryptocurrency market has not covered most of the world's population, which is a huge challenge for WorldCoin.

Finally, WorldCoin's success also depends on its ability to attract developers to build applications on its platform. Only when there are enough applications and services running on the WorldCoin platform will users have enough motivation to use and hold WorldCoin.

Is iris recognition technology safe?

There are indeed some doubts and concerns about WorldCoin's iris recognition technology, especially regarding user privacy. In the application of technology, we must constantly remind ourselves that technological development and progress must be premised on respect for and protection of personal privacy.

Iris recognition technology itself is not evil. It is widely used in many fields such as security systems and mobile payments because it has a very high recognition accuracy and is difficult to forge. However, any technology that is not used properly can potentially be misused or cause problems.

WorldCoin's proposed iris recognition mining method can effectively prevent identity fraud and double spending, but it also raises concerns about personal privacy and security. Even if WorldCoin promises to only store iris hash data used to check unique identity rather than original iris images, whether such promises can be effectively implemented and regulated is still a thought-provoking question.

In addition, WorldCoin's collection and management of iris data through operators also increases the risk of data leaks. Although WorldCoin claims to make this process as transparent as possible so that users can see how the data is used, whether such promises can be effectively implemented and regulated is still a thought-provoking question.

On this issue, we need a balance between the needs of technological innovation and the protection of personal privacy. This requires in-depth thinking and discussion across multiple dimensions such as technology, law, and ethics. At the same time, it is also a challenge for us to live in the digital age - how to enjoy the convenience of technology while protecting our privacy.

V. How Users Can Participate

Download the app, temporarily not accepting mainland China and North America Iris certification scan, temporarily not accepting mobile scans. The app will recommend the nearest certification area Apply to become a regional operator Join the community to win community roles, and there may be airdrop allocations in the future

https://worldcoin.org/be-a-worldcoin-operator