Worldcoin News

Worldcoin is a cryptocurrency project that aims to provide global access to financial services through biometric identification. It was launched by Sam Altman, CEO of OpenAI; Alex Blania; and Max Novendstern in 2020.

The core idea involves scanning an individual’s iris using a specialized tool known as the Orb. By generating a distinct digital identity through this scan, duplicate registrations are avoided, and everyone gets a fair share of the Worldcoin (WLD) distribution, offering privacy-preserving technology that puts ownership directly in the hands of users worldwide.

Worldcoin faces significant criticism for its potential privacy violations, surveillance risks, and the ethical and logistical complexities of its global ambitions. Despite the criticism, Worldcoin shows how blockchain technology can address financial inclusion challenges for underbanked populations. Its emphasis on fair distribution and outreach to underserved populations has ignited significant discussions about how technology may promote economic opportunity.