Introduction:
Worldcoin is a digital identity platform, officially launched on the 24th of July, 2023, that promises to provide every individual on the planet with an easy way to verify that they are a real human and not a bot or an AI program. The launch comes after a three years development and beta testing actually.
Worldcoin operates as a privacy-preserving digital identity network (World ID) based on what they called "proof of personhood", as well as a digital money (WLD) where municipal laws allow.
By "proof of personhood" it means that an individual or a person can be ascertained as a real human being and unique, thus enabling such a person to claim they are a real person and distinguish themselves from other actual or real people without having to reveal their real-world identify. In short, by proof of personhood, it shows that an individual or person is not a bit or an AI model but simply a real human being. By proof of personhood, it enables one to prove his humanness online in addition to maintaining one's privacy actually.
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Worldcoin operates on a tripod, namely World ID, Worldcoin Token and Worldcoin app. By Worldcoin ID, Individuals will be able to demonstrate to any platform that connects with the protocol that they are a genuine, one-of-a-kind human being, that is, after getting verified. Worldcoin is the governance token which an individual who has been verified can now own and deal with through a secured wallet, that is the Worldcoin app.
How does it Work?:
This is the interesting part of the story. The Worldcoin platform validates or verifies a user's identity by scanning their iris [with the individual visiting a physical imaging device called the Orb] and generating customized, secure identification numbers. The codes are stored on a decentralized blockchain, and the company believes they cannot be reproduced or spoofed in order to create fraudulent identities or commit fraud.
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The orb scans the iris of an individual solely for the purpose of unique identification of the individual and does not store the persons data. Just like fingerprint, every individual has a unique iris pattern.
The controversy:
As at the time of its launch, Worldcoin orbs are available and can be found in London, Hong Kong, Tokyo, Singapore, Seoul, Paris, Lisbon, Mexico City, São Paulo, Nairobi, New York, San Francisco and 25 other cities around the world.
The WLD cryptocurrency token is available to users after they create a World ID and download the World App. WLD has even been listed by major exchanges such as KuCoin and Binance.
Authorities in the cities where the orb could be found has warned and even expressed concerns over the scanning of people's eyeballs by Worldcoin. In the UK for instance, the UK’s Information Commissioner’s Office (ICO) expressed fears about the risks of processing biometric data of people by the Worldcoin orb. Similar attitude also played out in France as well as in Kenya where people who got their eyeballs scanned by the Worldcoin orb were given 25 WLD tokens.
Amidst all these concerns and warnings from the regulatory authorities in the above cities, Worldcoin has always maintained that they are only interested in a user’s uniqueness and nothing more stressing that the project abides by all rules and regulations in every location or jurisdiction where Worldcoin operates.
Conclusion:
Like every innovation or advancement in technology, there will always be skepticism over its adoption and intentions by the inventor or protagonists. When biometric screening or verification came, which basically involves the scanning and obtaining a person's fingerprints, it was not widely accepted. It has its criticisms. But now, it has become the order of the day. I believe this is just the trail phase for Worldcoin. Let's hope it sustains it's lofty ideas and with time, most jurisdictions will see the good intentions it has and then massive adoption will follow.