Worldcoin: Where Crypto Meets the Iris Scan – Real IDs for the Real Deal!

Tools for Humanity's Futuristic Project Leaps into the Future, Fights Fraud, and Unites with AI for a Fairer World

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Binance, the world’s largest crypto exchange, announced that it would start trading Worldcoin from 12 noon (GMT).

Worldcoin for real people
The key offering of the project is its global identity (ID) as it only creates an account for real persons.

To get the World ID, one must first do an iris scan using a Worldcoin “bullet”. After confirming that the person is real, then this creates a world ID.

The company behind Worldcoin is Tools for Humanity, based in San Francisco and Berlin. The project has 2 million users since its beta period and with today’s deal will have activity in 35 cities in 20 countries. Those who sign up will receive Worldcoin’s WLD cryptocurrency.

The cryptocurrency side of World IDs is important because their blockchains can store World IDs in a way that maintains privacy and cannot be controlled or shut down by any single entity, their co-founder Alex Blania told Reuters.

Project for the age of artificial intelligence
According to the project, World IDs will be necessary in the era of creative AI applications, such as ChatGPT, which produce a human-like language. World IDs could be used to distinguish real persons from computers.

Altman told Reuters that Worldcoin could also help address the situation the economy will find itself in with creative AI.

One example he uses is universal basic income (UBI), a social benefit program given by governments.

Because AI “will increasingly do more and more of the work that people do today,” Altman believes that UBI can help address income inequality. Since World IDs can only have real persons, they could be used to reduce fraud in the use of UBI.

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