What does Worldcoin do?
Worldcoin (CRYPTO:WLD) stands as an ambitious decentralized digital identity and financial network, striving to provide individuals worldwide with a digital identity and a stake in the global economy, irrespective of their background, location, or income. Central to this vision is the Worldcoin token (WLD), a cryptocurrency enabling access to a range of services within the Worldcoin network.
Worldcoin introduces a distinctive onboarding process, Proof of Personhood, which serves as a decentralized method for verifying the uniqueness and authenticity of individuals. Users engage in this process by scanning their iris with a Worldcoin Orb, a device provided to users free of charge. Once identity verification is complete, users can establish self-sovereign Worldcoin digital identities, ensuring full control over their identity data. These digital identities enable access to an array of services on the Worldcoin network, spanning financial services, social media platforms, and online marketplaces.
Worldcoin's growth doesn't stop here, as it's actively engaged in expanding its ecosystem. Projects like a decentralized exchange (DEX) and a mobile wallet are in development, aimed at facilitating seamless cryptocurrency trading and storage for users. The overarching goals of Worldcoin include providing universal digital identities, redistributing the global economy, and creating a more inclusive and accessible internet. With a dedicated team and a burgeoning community, Worldcoin is well-positioned to influence the future of the internet and the global economy, marking it as a promising project with considerable potential.