INTERNET, Everywhere / George Town, Cayman Islands--(BUSINESS WIRE)--Jul 24, 2023--
The Worldcoin Foundation (the “Foundation”) today announced that the Worldcoin project completed the protocol’s migration to the OP Mainnet, unveiled plans to scale Orb sign ups for World ID to more than 35 cities across 20 countries globally and released the World ID SDK. In tandem, the Foundation’s subsidiary, World Assets Ltd., minted and released the Worldcoin token (WLD) to the millions of eligible people who participated in the beta; WLD is now transactable on the blockchain.☨
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The Worldcoin Orb. (Photo: Business Wire)
Tools for Humanity (TFH), a technology company building on the Worldcoin network, also today introduced a new release of World App, the first protocol-compatible wallet that currently allows individuals to reserve their share of the WLD digital currency, where laws permit.
“In the age of AI, the need for proof of personhood is no longer a topic of serious debate; instead, the critical question is whether or not the proof of personhood solutions we have can be privacy-first, decentralized and maximally inclusive,” said Worldcoin project co-founder and TFH CEO, Alex Blania, speaking from Berlin, Germany. “Through its unique technology, Worldcoin aims to provide anyone in the world, regardless of background, geography or income, access to the growing digital and global economy in a privacy preserving and decentralized way. These protocol-level aims align closely with ours for World App.”
It is estimated that 4.4 billion people worldwide lack a legal, digitally-verifiable identity. As a result, participation in the global economy and access to critical services like government aid, financial services and healthcare are drastically limited. Co-founders Sam Altman, Alex Blania and Max Novendstern conceived of the Worldcoin project with the ambition of equitably increasing economic participation and improving access to essential services in a way that’s privacy-preserving, decentralized, open source and centered around humanness.
The Worldcoin protocol’s decentralized identity and financial network was designed to unlock and equitably distribute the potentially massive economic implications of AI. If successful, the project could drastically increase economic opportunity, scale a reliable approach for distinguishing humans from AI online while preserving privacy, enabling global democratic processes and eventually providing a potential foundation for AI-funded universal basic income (UBI). The protocol currently consists of:
- World ID, a privacy-preserving digital identity designed to help solve important, identity-based challenges, including proving an individual’s unique personhood
- Worldcoin token (WLD), the first digital currency to be freely distributed to people just for being a unique human*
- World App, the first World ID-compatible app, developed and operated by Tools for Humanity, that enables payment, purchases and transfers globally using digital assets and fiat-backed stablecoins
“The aim of the Worldcoin Foundation is both philosophical and political: to realize more inclusive, fair and just institutions of governance and of the global digital economy, including by helping achieve certain targets of U.N. Sustainable Development Goal 16 (namely, 16.4, 16.5, 16.6, 16.7 and 16.9). This aim is shared by those who contribute to or have regular contact with the Worldcoin projects,” said the Foundation’s Board of Directors.
Availability
The Worldcoin protocol, World ID, WLD tokens and the World App are now globally available where laws allow. Orb-verified World ID services are expected to roll out to more than 35 cities in the coming months. More immediately, these services will be available for a limited time in the following cities: Dubai, Hong Kong, London, Los Angeles, Mexico City, Miami, New York, Paris, San Francisco, São Paulo, Seoul, Singapore and Tokyo. Tools for Humanity’s World App is available in the App Store and Google Play in more than 120 countries.
About the Worldcoin Foundation
The Worldcoin Foundation aims to realize more inclusive, fair and just institutions of governance and of the global digital economy. The Foundation is the initial steward of the Worldcoin protocol and will support and grow the Worldcoin community until it becomes self-sufficient. It will do this by facilitating decentralization of the project over time consistent with the Worldcoin project’s goals and mission-focused ethos.
About the Worldcoin Protocol
The Worldcoin protocol is intended to be the world’s largest, most inclusive identity and financial public utility and to be owned by everyone. The project was originally conceived by Sam Altman, Alex Blania and Max Novendstern. The Worldcoin protocol is designed to empower individuals and organizations around the world with the tools they need to participate in the digital economy and advance humanity’s progress. Find out more about the Worldcoin project at www.worldcoin.org, on Twitter, Discord, YouTube and Telegram.
☨ Crypto products can be highly risky and their regulatory treatment is unsettled in many jurisdictions. There may be no regulatory recourse for any loss from transactions in WLD. Any value ascribed to WLD may change quickly and may be lost in its entirety. Further, the technologies comprising Worldcoin, including the WLD token, are experimental in nature. There is no guarantee that the network will operate as planned. For more information, visit www.worldcoin.org/risks.
* Nothing herein constitutes an offer to sell, or the solicitation of an offer to buy, Worldcoin tokens (WLD). Nor does this content constitute investment advice. Holding, buying, or selling WLD may not be permitted where you live, and it is your responsibility to comply with all applicable laws. Worldcoin (WLD) tokens are not intended to be available to residents of the United States or certain other restricted territories. More details can be found at www.worldcoin.org/tos.
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press@worldcoin.org
KEYWORD: CAYMAN ISLANDS CARIBBEAN
INDUSTRY KEYWORD: TECHNOLOGY ONLINE PRIVACY FINANCE APPS/APPLICATIONS ELECTRONIC COMMERCE PROFESSIONAL SERVICES ARTIFICIAL INTELLIGENCE PHILANTHROPY PAYMENTS DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SOFTWARE FINTECH CRYPTOCURRENCY FOUNDATION
SOURCE: Worldcoin Foundation
Copyright Business Wire 2023.
PUB: 07/24/2023 03:15 AM/DISC: 07/24/2023 03:15 AM
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