- World ID is a unique ID that cannot be replicated because it uses iris scanning technology.
- World ID will be used to ensure personhood to deal with increasing AI chatbots.
Today, AI has come a long way. It is now being used in every sector because it makes work easier and efficient. AI is now easing every work from researching to making. It is helping millions in their work. Like every coin, AI also has two sides.
The darker side is that, if used by the wrong person, this can be dangerous because it is possible that scammers can use AI to generate a twin of the natural person. They use this to ask for money from the family members of that person. Hence, developing a system that will protect users from such scams is necessary. The decentralized protocol has found a solution to this problem. In this article, we will discuss this solution.
What is Worldcoin?
This was launched to build the world’s most extensive virtual ID and financial network. The system of this coin revolves around World ID. The world ID is like a digital passport that is unique to everyone. Anyone cannot access it. This helps you prove you are a natural person, not a chatbot. It can do this because it uses an iris scanner to confirm your identity. Because the iris is unique and cannot be duplicated. This can be the perfect standard for proving the identity of a natural person.
The world coin works based on the world ID. This network has a public utility and is not owned by any single entity; the public owns it. To use the world coin, it is required first to download the app for the world coin. This is a wallet app, and not only this, it is the first wallet app that supports the world ID. It uses a physical imaging device called the Orb.
Independent local businesses operate this device called the Orb Operators. These Orb operators use multispectral sensors to verify that a person is natural. You don’t need to worry about it having your photos because it will instantly delete all your photos, as this is a default feature of the network.
The Founders of World Coin
The Founders of World Coin are Sam Altman, Max Novendstern, and Alex Brain. Out of all the three co-founders, one name is Unique Sam Altman, who is the same guy behind the famous AI platform OpenAI. The most famous product of OpenAI is ChatGPT. This project raised an enormous amount of $250 Million due to its innovative idea behind it. Different types of fund providers, like Blockchain Capital, Tiger Global, and many others, funded this project.
WLD live Price data
When writing this article, WLD is trading at 2.27 and ranks 117 on the coin market cap with a market cap of $251,594,369. About token distribution, 75% of the tokens are allocated to the world coin community. In comparison, 9.8% of the WLD tokens are given to the Initial development team, 13% are allocated to investors, and the rest, 1.7%, are presented to TFH Reserve.
Conclusion
World ID and World Coin present an innovative solution to protect users from AI-generated scams using iris scanning technology. The World ID is a unique digital passport, ensuring personhood and distinguishing real individuals from chatbots. With its decentralized and community-driven approach, World Coin offers a secure platform, making AI interactions safer and more reliable.