Project Name: Worldcoin
Tag: $WLD
Type: Depin + AI

Introduction

Worldcoin is a token distribution project that combines blockchain, biology, statistics, and other technologies. It uses special technology to confirm people’s identities through their eye’s iris. People who use this technology can get free Worldcoin tokens. The goal is to create a fair digital economy for everyone in the world. This project started in 2020 by Sam Altman, who also started OpenAI.

Project Module

Worldcoin is composed of three main parts: Identity ID, global currency, and a wallet to hold the currency, similar to DID, tokens, and wallets. Worldcoin uses blockchain methods combined with biology and statistics to achieve these three components.

• World ID: This is a unique digital identity assigned to each user, created using Worldcoin’s Orb device, which performs secure iris scans to generate a unique identification code. This prevents duplicate entries in the system, ensuring each person has only one World ID.
• World App: A fully self-custodial app that can be used to make payments, purchases, and transfers globally with Worldcoin tokens, digital assets, stablecoins, and traditional currencies. It is a key tool for accessing various services and applications within the Worldcoin ecosystem.
• Worldcoin (WLD): The native cryptocurrency token of the Worldcoin ecosystem, distributed globally for free to people, used for utility and future governance, facilitating transactions, and incentivizing various stakeholders within the Worldcoin platform.
  

  Privacy Protection

  The Orb is a proprietary iris scanning and imaging spherical device developed by Worldcoin. It scans and captures a user’s unique iris pattern and converts the biometric image into digital information known as an “iris code.” Each Orb is equipped with a private key stored in secure hardware to verify the Orb and sign important messages. Anti-fraud algorithms run locally on the device to maximize privacy protection. By default, the Orb deletes the iris image immediately after creating the iris code.

  Key Metrics

  

  Tokenomics

  Initial Token Circulation: 143,000,000
  Total and Max Token Supply: 10,000,000,000
  Token Allocation:
• Community: 75%
• Initial Development Team: 9.8%
• Investors: 13.5%
• Reserve: 1.7%
  Recently, the Worldcoin Foundation revised its token economic model. Tools For Humanity extended the unlocking schedule for 80% of WLD held by team members and investors from 3 years to 5 years. Grants to verified World ID holders remain unaffected.

  Community / Background

• Twitter Followers: 383,700+
• Discord Members: 85,100+
  On May 25, 2023, Worldcoin’s development company, Tools for Humanity, announced the completion of a $115 million Series C funding round, led by Blockchain Capital, with participation from a16z, Bain Capital Crypto, and Distributed Global.