Worldcoin Research Report
introduce
Worldcoin is a globally inclusive identity and financial network that aims to be owned by all of humanity. If successful, Worldcoin could significantly increase economic opportunity, provide a reliable solution for distinguishing humans and AI online while preserving privacy, enable global democratic processes, and demonstrate a possible path to an AI-funded UBI .
Worldcoin consists of a privacy-preserving digital identity network (World ID) based on proof of personhood and, where permitted by law, a digital currency (WLD). Every person is eligible to share in WLD simply by virtue of being human. Currently, World ID and WLD are complemented by the World App, developed by a team of contributors to Tools for Humanity (TFH), which is the first frontend for World ID and the Worldcoin protocol.
World ID
World ID is privacy-preserving proof of person. It enables users to verify their humanity through zero-knowledge proofs while maintaining privacy through a custom biometric device called Orb. Orb was designed based on the recognition that custom biometric hardware may be the only long-term viable solution for issuing AI-secure proof of person authentication.
Worldcoin Token
While network effects will ultimately come from useful applications built on top of the financial and identity infrastructure, tokens will still be issued in order to align the incentives of all network participants around the growth of the network. This is especially important early on to bootstrap the network and bypass the "cold start problem". This could make Worldcoin Token (WLD) the most widely distributed digital asset.
World App
The World App is the first frontend for World ID: it onboards individuals to be verified through Orb, and holds the individual's World ID credentials, and implements cryptographic protocols for sharing those credentials with third parties in a privacy-preserving manner. It aims to provide frictionless access to the global decentralized financial infrastructure. Eventually, there should be many different wallets that integrate World ID.
How Worldcoin Works
Worldcoin revolves around World ID, a privacy-preserving global identity network. Using World ID, individuals will be able to prove to any platform that integrates the protocol that they are real, unique people. This will enable fair airdrops, provide protection against bot/cyborg attacks on social media, and enable a more equitable distribution of limited resources. Additionally, World ID can enable global democratic processes and novel forms of governance (e.g., through quadratic voting), and may ultimately support a path to an AI-funded UBI.
Potential applications
Worldcoin significantly increases global equality of opportunity by advancing a future in which everyone, regardless of their location, can participate in the global digital economy through universally accessible decentralized finance and identity infrastructure. As the network grows, its utility should also grow.
in conclusion
Worldcoin's vision is to increase economic opportunity, protect privacy, enable global democratic processes, and demonstrate a possible path to AI-funded UBI by creating a globally inclusive identity and financial network. Through World ID and WLD, Worldcoin is working to realize this vision. Although this project is still in its early stages, its potential is huge and deserves further attention and research.
Talk about my understanding
Worldcoin is a very ambitious project with the goal of creating a globally inclusive identity and financial network. The core of this network is World ID, a privacy-preserving proof of person that enables users to prove they are real people while maintaining privacy. The idea is to solve a major problem on the current Internet, which is how to verify the authenticity and uniqueness of a person without revealing personally identifiable information.
Another key component of Worldcoin is its digital currency, WLD. The goal of this currency is to align the incentives of all network participants around the growth of the network. This is an interesting concept because it attempts to solve a key problem faced by many web platforms, which is how to encourage users to participate and help the network grow.
The potential applications of Worldcoin are very wide, including finance, identity verification, governance, etc. For example, it can enable people anywhere in the world to send and receive funds, which is very valuable for people who conduct economic transactions on a global scale. In addition, World ID can be used to protect social media platforms from bots and cyborg attacks, which is very important for protecting users and maintaining the health of the platform.
Overall, I think Worldcoin is a very promising project that attempts to solve some of the biggest problems of the current Internet. However, the project is still in its early stages and there are still many problems to be solved, including how to ensure user privacy, how to prevent fraud, and how to ensure the security and stability of the network. These are challenges that Worldcoin needs to face and solve in the future. #worldcoin
(Purely personal opinion, if you want to debate with me then you are right)
(Please follow me. Those who follow me will become rich and thin overnight. Please remember to comment and fulfill your wish. Please)
