Worldcoin

Worldcoin (WLD) was introduced as a financial network aiming to provide a World ID through a biometric cryptocurrency system. Its associated Worldcoin token, WLD, is part of a broader ambition to enable decentralized finance solutions on a larger level, contributing to a more inclusive global economy.

The Worldcoin project integrates the concepts of self-sovereign digital identities and employs an eyeball-scanning mechanism known as an “Orb” to authenticate users. The World App, the Worldcoin protocol and the underlying technological framework are managed by the Worldcoin Foundation, as detailed in the Worldcoin whitepaper.

Who is behind Worldcoin? 

Worldcoin is a cryptocurrency project spearheaded by OpenAI chief executive Sam Altman, the man responsible for ChatGPT, a future-ready artificial intelligence (AI) system. With an emphasis on AI-powered cryptocurrency use and innovation within the realm of DeFi, Sam Altman’s Worldcoin aims to reshape the current financial paradigm. The project is supported by a group of technologists as well as those who act as a Worldcoin operator.

How does Worldcoin work?

Worldcoin operates on a unique protocol that merges biometric identification with digital assets. By linking digital identity to the blockchain, it enables secure transactions and transparent governance. The core of Worldcoin’s functionality revolves around a module called “World ID,” which, as the name suggests, is designed to verify user identity via a person’s iris scans. The project also integrates seamlessly with other decentralized finance solutions, aligning with the broader trend of utilizing blockchain for various financial applications.

So, is Worldcoin legit? The legitimacy of Worldcoin has been a point of discussion and investigation. The initiative has raised significant privacy concerns, particularly with regulatory authorities in Europe for its handling of sensitive personal biometric data. To this point, the United Kingdom’s Information Commissioner’s Office (ICO), France’s Commission Nationale Informatique and Libertes (CNIL) and Bavaria’s Data Protection Authority (DPA) have expressed concerns about the legality of the data collection and storage practices, which may not align with the stringent requirements set forth by the General Data Protection Regulation in the European Union.

Additionally, the organizational structure and decentralized governance of Worldcoin have created confusion about who is actually processing the data and who is legally responsible for compliance with data protection law. 

How and where to buy Worldcoin 

Buying Worldcoin (WLD) can be done through various exchanges and peer-to-peer (P2P) services. Interested investors should follow standard procedures for purchasing cryptocurrencies, adhering to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Is it worth investing in Worldcoin? This is a decision that should be based on careful analysis of the project, its potential, goals and the overall market situation.

How much is 1 WLD trading for today? What will WLD be worth tomorrow? These are all pertinent questions that many potential investors will ask. Due to the dynamic nature of the crypto market, the price of WLD is subject to constant change. However, the asset’s value and the WLD market cap can be observed in real time via the WLD price chart above. For more historical data on Worldcoin, see the price table below.