What is Worldcoin (WLD)?

Today, we're going to take a closer look at an innovative and ambitious project that we've been hearing a lot about in the tech and crypto agenda lately: Worldcoin (WLD). Aiming to provide digital proof of being “human” in a world where artificial intelligence is rapidly developing and digitalization permeates every field, this project is not just a cryptocurrency initiative; it also offers a comprehensive vision on fundamental issues such as identity, security, privacy and financial inclusion. At the same time, in a new era where the distinction between human and artificial intelligence is gaining importance, it tries to ensure that individuals are recognized and verified in the digital environment.

Definition and Origins of Worldcoin

So, what exactly is Worldcoin? Worldcoin is an innovative project that aims to provide digital authentication and basic income on a global scale. At the heart of the project is the idea of building a system where every person can prove that they are a “unique person” in the digital world. WLD is the native token of this system. That is, it is the main cryptocurrency used within the Worldcoin ecosystem. The Worldcoin project was launched in 2019 by Sam Altman, Max Novendstern and Alex Blania through a company called Tools for Humanity (TFH). Yes, you heard that right! Sam Altman, who we know as the CEO of OpenAI, is also the co-founder of this project. The project is being developed by a San Francisco and Berlin-based organization called Tools for Humanity (TFH).

So how does Worldcoin work? The Worldcoin project relies on individuals verifying their digital identity by having their iris scanned with a futuristic device called an Orb. These Orb devices are biometric scanners that capture high-resolution iris images. As a result of this scan, a secure and anonymous identifier called “Iris Hash” is generated. This identifier proves that the person is a unique human being. Most importantly, Worldcoin aims to verify users without storing personal data or relying on a central authority.

As for what a WLD token is, these tokens are typically distributed as a reward to users who verify their identity through Orb scanning. This reward mechanism aims to encourage adoption of the project. However, WLD tokens can be purchased not only through Orb scanning, but also on cryptocurrency exchanges. The main goal of Worldcoin is to provide a reliable system that can distinguish humans from AI online in the face of the increasing use of AI. This “proof-of-personhood” mechanism is seen as a critical digital foundation to curb the spread of AI bots.

The components of the project include World ID, World App, WLD token and World Chain. The World ID is the digital proof of humanity that protects privacy, while the World App is the first World wallet, allowing users to hold their World ID and use crypto and stablecoins. World Chain is a human-centered blockchain designed to help the World Network scale to support all of humanity.

History of Worldcoin: Key Milestones

Worldcoin, an ambitious project that sets out with the vision of digital identity and universal basic income, has attracted global attention in a short time. This initiative, developed under the leadership of Sam Altman, has been at the center of debates both with its technological infrastructure and its social impact. With the emergence of the project, a rapid and turbulent growth process began. Fundraising rounds, moves to collect biometric data with the Worldcoin Orb device, and tensions with regulators have been important milestones of this process. Below, we take a chronological look at the key milestones in Worldcoin's remarkable journey:

• 2019: The project was founded by Sam Altman, Alex Blania and Max Novendstern under the umbrella of Tools for Humanity (TFH).
• 2021: Worldcoin was announced to the public. The project announced plans for biometric proof-of-personhood using a device called Orb. The company stated that WLD token is an effort to drive a more unified and fair global economy driven by the internet economy. However, it was also stated that WLD will not be available in the US initially.
• 2022: MIT Technology Review reported that Worldcoin was targeting low-income communities and students to recruit its first half million users. It raised more than $100 million in funding during this period. With these funds from prominent investors such as Andreessen Horowitz (a16z) and Khosla Ventures, it reached a valuation of $3 billion. A Germany-based data regulator launched an investigation into Worldcoin over concerns about handling sensitive data on a large scale.
• July 2023: Worldcoin exits beta and officially launches on the mainnet. The WLD token began trading on Ethereum and Optimism (OP) Mainnet. During this launch, users in London received 25 WLD tokens in exchange for an iris scan. Worldcoin announced plans for Orb locations in 35 cities in 20 countries, including 11 in the US. However, WLD tokens were not freely tradable in the US.
• 2023: By the end of the year, sources indicate that there are Worldcoin iris scanning stations in more than 100 countries. During this period, the debate on privacy, ethics and biometric data security intensified. Regulators in France, the United Kingdom, Bavaria, South Korea, Kenya, Spain, Portugal and Hong Kong investigated or suspended Worldcoin. Kenya has suspended Worldcoin scans specifically due to security, privacy and financial concerns. Some records even show that Worldcoin ignored an initial order to stop iris scans in Kenya.
• 2024: Worldcoin was rebranded as “World Network” or simply “World”. The project launches its own Layer 2 (L2) blockchain, World Chain, using the OP stack. World App downloads exceeded 20 million. In March 2024, Spain requested that Worldcoin stop collecting personal data due to privacy risks. In March 2024, Portugal also ordered Worldcoin to stop data collection. The Hong Kong regulator also ordered Worldcoin to cease its operations in May 2024, citing privacy concerns. In May 2025, Worldcoin (WLD) became accessible for the first time in most parts of the US, through exchanges like Coinbase. Orb scanners received 16 WLD, while people in the US who pre-registered on the World App received a “pioneer grant” of 150 WLD. Tools For Humanity also announced a partnership with Visa to launch a debit card later this year that converts WLD into fiat currency at checkout.
• 2025: Worldcoin has 886 Orb stations as of May 2025.

Why is Worldcoin valuable?

So, what makes the Worldcoin project valuable? Why is it attracting so much attention?

• It offers a blockchain-based universal digital identity system: Worldcoin's core proposition is to create a global digital identity protocol and network through World ID. This system allows individuals to prove that they are uniquely human online. Especially in a world of proliferating AI-generated content and bots, verifying real people is becoming increasingly important. World ID aims to provide a solution to this problem.
• It uses zero-knowledge proof technology for personal data security: World ID emphasizes privacy protection. Sources say that World ID uses zero-knowledge proof technology to anonymously verify that users are a real and unique person. This technology allows to prove the veracity of a piece of information without revealing the information itself. This provides an important layer of security given the sensitive nature of biometric data.
• It provides potential universal basic income (UBI) infrastructure: One of Worldcoin's long-term visions is to support the distribution of basic income coins as a potential economic safety net should AI impact the workforce. Sam Altman has expressed the need for UBI in the Age of AI and the potential for Worldcoin to support it. The issuance of WLD tokens to people who verify their identity with Orb can be seen as a reflection of this universal basic income (UBI) concept. Worldcoin states that this distribution mechanism was inspired by the universal basic income debate.
• Web3 provides a secure user verification solution for DeFi and DAOs: World ID's “proof of humanity” feature can provide significant benefits for the web3 identity system. It can be used in areas such as fair airdrop distribution, protection against bots and Sybil attacks, and fair distribution of limited resources. This could help create more secure and fair environments for decentralized finance (DeFi) applications and decentralized autonomous organizations (DAOs).
• The WLD token is used as both an incentive tool and a governance token: The answer to the question of what the WLD coin is good for includes a variety of use cases. In addition to incentivizing users to create World IDs, the WLD token has functions such as facilitating transactions, participation in network governance, and community incentives. Token holders can participate in decision-making about the future direction of the protocol. WLD allows users to explore and utilize on-chain applications. Furthermore, the project mentions the possibility of WLD staking, stating that users can support the security of the network by holding their tokens and earn additional WLD tokens in return. As of May 2025, the WLD price ranges around $1. The coin reached an all-time high of $11.82 on March 10, 2024.

The Worldcoin token economy and the technology behind it: Orb and the registration process

Perhaps the most notable and controversial aspect of Worldcoin is the technology it uses for authentication: Orb device and biometric authentication. What is the Orb device? The Orb is a custom-made piece of hardware used by Worldcoin to verify every unique individual globally. Sources state that Orb scans a person's iris using a high-resolution camera. The iris scan is used to generate an “Iris Hash”, a person's unique digital identity. This Iris Hash is not associated with a person's personal information, it is anonymous. The aim is to ensure that each person can only be verified once in the digital world.

Biometric authentication involves using unique physical characteristics, such as the iris, for identification. Worldcoin argues that iris scanning ensures that identity is difficult to forge in the digital world. It is seen as the most reliable way to provide “proof of humanity”, especially in the age of AI bots and fake accounts. Worldcoin's verification process, “How to register for Worldcoin?” includes the following steps:

1. Creating a World ID: First, people create their World ID. What is a World ID? This identity (ID) enters the systems with iris verification. The person scans their iris with the orb device. The device captures high-resolution images and creates an “Iris Hash”. No association with personal information is made during this process.

2. World App Usage: The person sets up their Worldcoin account by downloading the World App. This app allows the user to manage their World ID and access their digital wallet. The World App also supports interacting with decentralized mini-apps and using cryptocurrency. The World App marketplace is reported to distribute to hundreds of thousands of users.

3. Blockchain Network: Worldcoin runs on a decentralized blockchain network. This network ensures that all transactions and authentications are recorded in a public ledger. This aims to provide transparency and security. Initially using the Optimism Layer 2 network, Worldcoin later launched its own Layer 2 blockchain called World Chain. World Chain is an Optimism stack Layer 2 (L2) blockchain built on Ethereum (ETH) Layer 1 (L1). With the launch of the World Chain mainnet, more than 10 million people in 160 countries will be able to discover and use on-chain applications through compatible wallets.

4. WLD Token Distribution: WLD tokens are distributed to individuals who successfully verify their identity. Sources state that WLD tokens can only be claimed through the World App and that there is no airdrop or ICO.

Worldcoin's token economy is also quite specific

• The total WLD token supply for the first 15 years is limited to 10 billion tokens. This limit is enforced by the WLD smart contract.
• After 15 years, the governance may decide to apply an inflation rate up to a maximum of 1.5% per year if necessary for the long-term sustainability of the protocol. By default, the inflation rate is set at 0% unless changed by governance.
• The token distribution is as follows: 75% allocated to the Worldcoin community. This is reserved for World Network users and ecosystem funds. The World Foundation manages the allocation of these tokens. 13.5% is reserved for Tools For Humanity (TFH) investors. These are the investors who funded the TFH startup. 9.8% is allocated to the initial development team, namely Tools For Humanity. 1.7% is allocated to the Tools For Humanity (TFH) reserve. TFH will maintain a reserve to fund future operations.

Who is the Founder of Worldcoin?

Let's get to know the names and team behind Worldcoin. Who is the founder of Worldcoin? Worldcoin has three co-founders:

• Sam Altman: He is best known as the CEO of OpenAI and co-founder of the Worldcoin project. Altman is an American tech entrepreneur and investor born on April 22, 1985. He left Stanford University after two years. As CEO of OpenAI, he is considered one of the leading figures of the AI boom. Sam Altman is one of the main driving forces behind the Worldcoin project and has articulated the project's visions such as “trust in the AI Age” and universal basic income.
• Alex Blania: Another co-founder of Worldcoin and CEO of Tools For Humanity. He is at the core of Tools For Humanity, Worldcoin's main development team. Blania stated that the goal of the project is to realize more inclusive, fair and equitable governance and global digital economy institutions. He also said that the need for proof of humanity in the age of AI is no longer a matter of serious debate, the question is whether there are privacy-focused, decentralized and maximally inclusive solutions.
• Max Novendstern: The third co-founder of Worldcoin. A philosophy graduate of Harvard University, Novendstern served as CEO at the project's inception, from 2019 to 2021.

The Worldcoin project was developed by the Tools for Humanity company. This company designed and built the orb device, the core technology of the project. The team includes experts in cryptography, artificial intelligence, blockchain and ethics. It is generally stated that Tools For Humanity is the main development team of Worldcoin.

Frequently Asked Questions (FAQ)

Below are the most frequently asked questions and answers to the controversial Worldcoin:

• What is WLD token and what does it do?: WLD is the native cryptocurrency of the Worldcoin project. It is developed on the Ethereum network in the ERC-20 standard and integrates with Layer-2 solutions such as Optimism. Users can receive the WLD token when they authenticate with an iris scan. This token is used for purposes such as digital authentication, governance and potential universal basic income (UBI) distribution.
• Who is Worldcoin designed for?: Worldcoin aims to provide digital identity and access to financial systems for everyone globally. It is specifically designed for individuals without access to banking services and communities in developing countries. It also offers a digital authentication system to distinguish humans from bots in the age of artificial intelligence.
• Is the Orb device secure: Orb creates a unique digital identity (World ID) by scanning users' irises. The company states that biometric data is deleted after scanning and only encrypted identity data is stored. However, there have been investigations and restrictions in some countries due to data security and privacy concerns.
• What data is collected during registration? During enrollment, users' iris is scanned and a unique digital identity (World ID) is created from this biometric data. The company states that raw biometric data is deleted after the scan and only encrypted identity data is stored. However, there have been investigations and restrictions in some countries due to data security and privacy concerns.
• Is Worldcoin free: Yes, participation in Worldcoin is free. Users can get free WLD tokens by getting an iris scan through the Orb device. However, these incentives may vary from country to country and some regions may have limitations due to regulatory restrictions.
• Which network does WLD run on: The WLD token is built on the Ethereum blockchain on the ERC-20 standard. It also integrates with Layer-2 solutions such as Optimism, enabling faster and lower-cost transactions.

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