Worldcoin project
- July 31, 2023
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Worldcoin project
Subject : Science and technology
Section: Awareness in IT
A venture by Sam Altman (CEO OpenAI), which scans eyes of the person and provides a unique ID (a World ID) and WLD Crypto.
Worldcoin claims it is building world’s largest identity and financial public network.
Orb, Orb operators and World App:
Orb: A device used to scan the iris of eyes of the person
- It captures images and a unique code is generated.
- Images are immediately deleted once code is generated (unless user opts in to data custody)
- Individuals are not required to share their name, phone number, email address, or home address.
Orb operators: A Worldcoin volunteers who are using orb to scan eyes and helping in getting World ID using World App.
- They receive basic training and a biometric device (orb).
- They can rent out orb as well.
- In return for signing up more people to the Worldcoin network they receive WLD crypto
World App: First Worldcoin wallet, designed to bring digital identity and global finance to everyone.
- Uses a technology known as zero knowledge proofs (ZKPs) to maintain users’ privacy.
- Fully compliant with Europe’s General Data Protection Regulation (GDPR).
WLD Crypto: A cryptocurrency based on the Ethereum blockchain.
- Ethereum has a native coin, Ether, which is the second largest crypto by market capitalisation.
- However, anyone can create a token which runs on the Ethereum blockchain. WLD is one such cryptocurrency.
- Users can also buy or sell WLD without getting scanned or using the app.
Why scan irises?
As per company blog post:
- It wanted to include everyone and biometric is the way.
- India’s proven use of biometrics through its Aadhar system
Worldcoin and India:
- Worldcoin lists 18 locations, largely in Delhi, Noida, and Bangalore, where Orb operators are scanning people’s eyes.