What Is Worldcoin (WLD)?

Worldcoin, a digital ID platform co-founded by OpenAI CEO Sam Altman, launched on July 24, 2023 after three years of development. It offers various products including verified digital identities, a cryptocurrency called Worldcoin (WLD), and a crypto wallet app. As AI advances to blur the line between human and machine-generated content, Worldcoin aims to tackle this issue with a "proof of personhood" digital passport. By scanning users' irises to generate secure, unique IDs stored on a decentralized blockchain, Worldcoin ensures these identities cannot be forged. With over 16 million registered users, Worldcoin is addressing the need for reliable digital identification in the AI era.

Understanding Worldcoin: The Digital Identity Token

Worldcoin is a digital identification platform designed to provide a convenient way for individuals worldwide to verify their human identity and distinguish themselves from bots and AI algorithms. Developed by Tools for Humanity and co-founded by Sam Altman, the creator of ChatGPT, Worldcoin addresses the irony of Altman's contribution to the AI boom by offering a solution to the very challenges AI presents.

Worldcoin aims to establish a global financial and identity network, leveraging cryptographic and blockchain tools to create a robust digital passport system utilizing the WLD token. However, it's important to note that Worldcoin's services are currently unavailable in the United States and other restricted regions.

How Worldcoin Works

The Worldcoin ecosystem is built around three main elements: World ID, World App, and the Worldcoin token (WLD).

1. World ID: A Revolutionary Concept

The Worldcoin platform features the World ID, allowing users to verify their human identity online while maintaining privacy. This Proof of Personhood (PoP) utilizes an advanced iris-scanning device called the Orb. Each person's iris pattern, unique like a fingerprint, is scanned to create an IrisCode. This code, not linked to personal information, ensures a single person cannot have multiple World IDs. After scanning, the Orb generates and securely stores an anonymous IrisCode, issues a World ID, and deletes the iris images permanently. Repeated scanning is not needed for identity verification. Each World ID is added to the Worldcoin blockchain, allowing users to authenticate their identity through a secure app. During its launch week, Worldcoin Orbs were available in cities like Hong Kong, Tokyo, Singapore, Seoul, Paris, Lisbon, Mexico City, São Paulo, Nairobi, New York, San Francisco, and approximately 25 other locations worldwide.

2. World App: Accessing World ID

Users can obtain a World ID via the Worldcoin App, which runs on the Polygon blockchain in its beta phase. It is set to migrate to Optimism as part of Optimism’s Superchain. The app serves as a gateway for users to access the World ID system, providing a seamless and user-friendly experience.

3. Worldcoin Token (WLD): The Digital Currency

The Worldcoin token (WLD) plays a crucial role in the ecosystem. During the beta program, WLD was distributed to participating users. The token officially launched on July 24, 2023, and is listed on various trading platforms and exchanges. To mark the official launch, a significant number of WLD tokens were airdropped to users.

According to the Worldcoin white paper, a total of 10 billion WLD tokens will be issued over a 15-year period. As of August 5, 2024, approximately 318 million WLD tokens are in circulation.

How to Buy Worldcoin (WLD) on Hata Global

1. Create an Account: Sign up on the Hata Global platform by providing your email address and setting up a secure password. Verify your email to activate your account.

2. Verify Your Identity: Complete the KYC (Know Your Customer) process by submitting necessary identification documents as required by Hata for security purposes.

3. Deposit Funds: Add funds to your Hata Global account.

4. Navigate to Worldcoin (WLD): Once your account is funded, go to the cryptocurrency marketplace on Market Instant Buy and search for Worldcoin (WLD).

5. Place an Order: Decide on the amount of WLD you wish to purchase.

6. Secure Your WLD: After purchasing, ensure your WLD is stored securely. You can keep it in your Hata wallet.

7. Monitor Your Investment: Keep track of your WLD investment through the Hata Global platform. Stay updated on market trends and news to make informed decisions.

Conclusion

Worldcoin (WLD) holds significant promise for transforming digital identity and global financial inclusion. By leveraging biometric verification and blockchain technology, it aims to create a secure and equitable system for digital interactions. The platform's success will depend on its ability to overcome regulatory and privacy challenges while expanding its reach. If it can navigate these hurdles effectively, Worldcoin has the potential to redefine economic participation, offering a more inclusive and accessible future for individuals worldwide.

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