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Worldcoin: A Decentralized Cryptocurrency with

AI-Powered Identity Verification

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Worldcoin is a new cryptocurrency project that is using AI-

Redefining Finance By powered identity verification to create a more equitable
Empowering Everyone financial system. The project is led by Sam Altman, the
former CEO of OpenAI, and it has already raised over $200
Share million in funding.

    Worldcoin's main goal is to provide everyone in the world

with access to a
digital identity
Posted Aug 07, 2023 . This would allow people to participate in the global
economy without having to rely on traditional forms of
Category Technology
identification, such as passports or ID cards.
Tags
Worldcoin's identity verification system is based on iris
WORLDCOIN scanning. This is a secure and non-intrusive way to identify
people, and it can be used in even the most remote parts of
CRYPTOCURRENCY the world. This helps verify whether the holder is a real
human being, not an AI bot or a fake account.
TECHNOLOGY
Once someone has been verified, they will be issued a
ARTIFICIAL INTELLIGENCE Worldcoin token. This token can be used to access a variety
of financial services, such as banking, insurance, and
investment opportunities.

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 Worldcoin is still in the early stages of development, but it
has the potential to revolutionize the way we think about
identity and money. By using AI-powered identity
verification, Worldcoin could help to create a more inclusive
and equitable financial system for everyone.

How Worldcoin Works?

Worldcoin's main innovation is its World ID, which is

generated by scanning a person's eyes using a device called
an orb.
The orb is a silver sphere that can capture a high-resolution
image of the iris, which is unique for every individual. The orb
then encrypts the image and sends it to a
blockchain network
, where it is matched with a Worldcoin address. The person
who scans their eyes receives some Worldcoins as a reward
for joining the network.

Worldcoin uses a two-step process to verify people's

identities. First, people are scanned with an iris scanner. This

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 scan creates a unique digital fingerprint that is used to
identify the person.
Once the person's identity has been verified, they are issued
a Worldcoin token. This token is stored on the Worldcoin
blockchain, and it can be used to access a variety of financial
services.

The Benefits of Worldcoin

There are a number of benefits to using Worldcoin.

1. Secure and Non-Intrusive Identity Verification : it provides a
secure and non-intrusive way to verify people's identities.
This is important in countries where traditional forms of
identification are not readily available.

2. Inclusive Financial System and Universal Basic Income (UBI)

: Worldcoin can help to create a more inclusive financial
system. By providing everyone with access to a digital
identity, Worldcoin can help to break down the barriers that
prevent people from participating in the global economy.
Worldcoin claims that its World ID is a way to create a
universal and decentralized digital identity that can protect
people's privacy and enable them to access various services
and benefits online. The project also has a vision of using
Worldcoin as a means to distribute universal basic income
(UBI) to everyone in the world, regardless of their location,
income, or status.

3. Decentralization and Security : Worldcoin is decentralized.

This means that it is not subject to government control or
interference. This makes it a more secure and reliable way to
store and transfer value.

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 The Future of Worldcoin
1. Expanding Beyond Financial Services
Worldcoin is still in the early stages of development, but it
has the potential to revolutionize the way we think about
identity and money. By using AI-powered identity
verification, Worldcoin could help to create a more inclusive
and equitable financial system for everyone.
2. Towards a Transparent and Accountable Financial System
In the future, Worldcoin could be used to provide people with
access to a variety of other services, such as healthcare,
education, and employment opportunities. It could also be
used to create a more transparent and accountable financial
system.

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 Key Takeaways
Worldcoin is a promising new project with the potential to
make a real difference in the world. It will be interesting to
see how the project develops in the years to come.
Worldcoin is a new cryptocurrency project that is using
AI-powered identity verification
to create a more equitable financial system. The project is
still in the early stages of development, but it has the
potential to revolutionize the way we think about identity and
money.

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