A new dimension of the digital world: Worldcoin with a universal identity verification system

As the world fully transitions into the digital era, the demand for efficient and globally compatible identity verification systems has increased. Worldcoin, one of the most closely watched projects in the blockchain technology sector, offers a new concept in identity verification that is not only secure but also meets global usage needs.

What is Worldcoin?

Worldcoin is a project founded by Sam Altman (CEO of OpenAI) along with a team of developers with technological expertise. Its main goal is to create a comprehensive and globally accessible digital identity system, as well as to provide digital currency to all users equally.

This system is powered by blockchain technology and artificial intelligence (AI) to ensure that users' personal data is protected while allowing for the verification of unique identities.

How does the Worldcoin authentication system work?

The core of identity verification on Worldcoin is the use of the iris scanning device (Orb), which is hardware developed to collect users' biometric data. The process works as follows:

• Iris scanning: Users will have their irises scanned through a device called "Orb," which will create a unique identifier (Iris Hash).
• Data encryption: The obtained iris data will be converted into an encrypted code (Encrypted Iris Code) without storing the original iris image.
• Identity verification: The generated code will be used as proof to confirm the user's identity as a real person and ensure it is not duplicated with other users in the system.

The design of this system allows users to verify their identity without disclosing other personal information such as name, address, or phone number, making the system highly secure and maintaining privacy.

The highlight of Worldcoin's universal identity verification system

Universality (Global Inclusion)

• The system is designed to be accessible to everyone in the world, regardless of which country they are in.
• Reduce the problem of inequality in accessing digital services.

Security and privacy

• Biometric data (iris) will be encrypted and cannot be traced back to individuals.
• Use Zero-Knowledge Proof (ZKP) technology to verify information without revealing details.

Solving the problem of fake accounts (Fake Accounts)

• Currently, fake accounts are a major problem for digital platforms such as social media and online services.
• Worldcoin ensures that every account is unique and represents a real human being.

Concerns and challenges

Although the concept of Worldcoin is intriguing, there are still several concerns, such as:

Privacy (Privacy Concerns)

• Iris scanning is seen as a potential invasion of privacy if the data is misused.

The transparency of the system

• Trust in the system relies on proving that the collected data will not be misused.

The distribution of WLD Token

• The fair and transparent distribution of Worldcoin (WLD) will be a challenge to monitor.

Worldcoin and the changes in the digital world

If the Worldcoin system succeeds in creating a universal Digital Identity, it will lead to significant changes in various areas such as:

• Identity verification on Web3: Making blockchain services safer
• Wealth distribution: WLD Token may be used as a central currency in the digital economy.
• Access to digital services worldwide: Everyone can access various services without relying on traditional identification documents.

Worldcoin is an innovation to watch in creating a universal digital identity verification system by integrating biometric technology and blockchain to solve identity verification issues in the digital world. However, striking a balance between security, privacy, and global acceptance will be key to bringing Worldcoin to success.

In the future, if trust can be built and concerns addressed, Worldcoin might become the foundational system for identity verification in a transparent and borderless new digital world.