Worldcoin was founded over three years ago by Sam Altman, Alex Blania, and Max Novendstern with the ambitious goal of creating a decentralized identity and financial network accessible to everyone.
The project aims to increase economic opportunities, distinguish humans from AI online while preserving privacy, enable global democratic processes, and explore the potential for AI-funded Universal Basic Income (UBI).
The system comprises a privacy-preserving digital identity (World ID) and a digital currency (WLD) given to individuals simply for being humans.
The World App, the first protocol-compatible wallet, allows users to reserve their share of the digital currency. Through biometric verification using Orbs, users can obtain a World ID, proving their uniqueness while maintaining privacy.
As the project goes live, and the token is listed on crypto exchanges, users can trade it against other currencies such as USDT, and BTC on Binance, According to Binance, users can also deposit the WLD token, while withdrawal starts on July 25, 2023, at 09:00 UTC.
The combination of AI and blockchain to create useful products is becoming more common lately. Several other AI-blockchain projects include Fetch.ai (FET), an open-source, decentralized blockchain platform, with an aim to establish a network for autonomous economic agents to function efficiently and securely; Render (RNDR), a blockchain platform focused on rendering services for computer graphics; and SingularityNET (AGIX), an open-source, decentralized solution focused on helping developers to create, share, and monetize various AI services, such as machine learning algorithms, data sets, and AI models.
Others are DeepBrain Chain (DBC), a decentralized AI computing network that utilizes blockchain technology for secure, private, and cost-effective AI training and inference, and Ocean Protocol (OCEAN), a decentralized platform focused on data sharing and exchange.