“Implementation of the new SMPC system enabled the Worldcoin Foundation to delete old iris codes by permanently encrypting them to SMPC shares that by themselves cannot be related to an identified person,” states Jannick Preiwisch, Data Protection Officer of the Worldcoin Foundation.
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Worldcoin
Founded in 2019 by OpenAI chief Sam Altman and Alex Blania, Worldcoin is an ambitious cryptocurrency and digital ID project that aims to create a decentralized identity and financial network powered by blockchain technology. Their mission is to address the global issue of the millions of people lacking a legal and digitally-verifiable identity, which limits their access to essential services and participation in the global economy.
The project is backed by the Worldcoin Foundation, whose philosophical and political aims are focused on creating more inclusive, fair, and just institutions of governance and a global digital economy. They share the vision of achieving certain targets of the U.N. Sustainable Development Goal 16, emphasizing the importance of peace, justice, and strong institutions.
Worldcoin’s protocol includes World ID, the privacy-preserving digital identity system to prove an individual’s unique personhood and enable access to various services and opportunities; the Worldcoin token (WLD), freely distributed to unique individuals; and the World App, a protocol-compatible wallet developed by Tools for Humanity, allowing secure transactions using digital assets and fiat-backed stablecoins.
The ultimate goal of Worldcoin’s decentralized identity and financial network is to unlock and distribute the potential economic implications of AI while preserving privacy, enabling global democratic processes, and potentially providing a path for AI-funded universal basic income (UBI).
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World Chain’s integration of WLD tokens for fee payments offers a seamless avenue for users to engage with the platform’s offerings, further enhancing accessibility and usability.
“Worldcoin does not seek to know who you are, just that you are a unique human,” the company said in a statement.
Worldcoin, a venture co-founded by Sam Altman, aims to distribute a digital ID and free cryptocurrency to users in exchange for scanning their irises with a device known as the “orb.”
Today, the Worldcoin Foundation open sourced core components of the orb’s software, now publicly available on GitHub under an MIT/Apache 2.0 dual license.
TFH’s interest in Ottr was piqued by the latter’s success in developing a high-quality self-custody wallet, leading to the proposal for Ottr to spearhead the development of the World App.
Worldcoin (WLD) hits a groundbreaking ATH of $7.96! Spearheaded by Sam Altman, this iris-scanning crypto marvel has surged over 200% in just 2 weeks. Is this the future of digital identity? Dive into the details of its astonishing journey and what lies ahead.
The selection process, which saw over 1000 applications, culminated in the awarding of approximately 800,000 WLD to 28 projects spanning across five continents.
Worldcoin aims to provide privacy-preserving, decentralized proof of personhood and equitable access to the digital economy through its innovative protocol and token distribution.
World ID is a privacy-first decentralized identity protocol that enables seamless sign-in to websites, mobile apps and crypto dApps, while proving that you’re a unique person without sharing any personal data.