By now, you may have heard of Worldcoin—but what exactly is it? Is it just another cryptocurrency gimmick, or is there something more to it?

In this edition of The Financial Zown, we break down what Worldcoin is, how it works, and whether it's the future of digital identity and global finance.

What is Worldcoin?

Worldcoin is a cryptocurrency project with an ambitious goal: to give a small amount of its cryptocurrency to every person on Earth.

How? By using biometric identification, specifically iris scanning, to ensure that each person receives only one share of Worldcoin.

Why? The goal is to promote economic inclusion and create a universal basic income (UBI) using blockchain technology.

How Does Worldcoin Verify Your Identity?

To verify users, Worldcoin has developed a futuristic device called “The Orb”—a shiny, softball-sized scanner designed by former Apple engineers.

How it works:
✔ The Orb scans your iris and generates an IrisCode, a unique identifier proving you're human.
✔ It does not store personal data—just a mathematical representation of your iris pattern.
✔ Everything is managed through the Worldcoin app.

Where Can You Sign Up?

Worldcoin is available in 35 cities worldwide, including Miami and New York. The company is also conducting pop-up events where people can get scanned.

You can find the latest locations on the Worldcoin website.

Who’s Behind Worldcoin?

Worldcoin is the brainchild of Sam Altman, CEO of OpenAI (the company behind ChatGPT).

Backed by Major Investors:
💰 Raised $200M+ from top venture capital firms like Khosla Ventures and Bain Capital.
💡 Parent company Tools for Humanity is working to build a blockchain-based global digital identity system.

What’s the Crypto Angle?

Those who scan their iris receive Worldcoin (WLD) tokens via airdrop—a method of distributing crypto directly into user wallets.

Current Price: ~$2 per WLD token (as of launch week).
U.S. Users Excluded: Due to regulatory concerns, U.S. residents weren’t eligible for the airdrop—but this may change.
Future Vision: Worldcoin hopes to integrate its system into a larger digital economy, where identity verification via iris scans enables everything from payments to voting systems.

Should You Sign Up? Is Worldcoin Safe?

That’s up to you.

Worldcoin claims:
✔ Zero-knowledge proof encryption ensures privacy—not even the company can link IrisCodes to individuals.
✔ The Orb doesn’t store personal data, just an encrypted identifier.

However, privacy experts warn that handing over biometric data to a private company carries risks. Critics argue:
❌ A centralized biometric database could be misused.
❌ Governments may try to regulate or even ban the technology.
❌ Mass adoption remains uncertain—the concept is ambitious but untested.

Final Verdict: Hype or the Future?

Worldcoin’s vision is bold—solving digital identity verification while distributing cryptocurrency globally.

✅ If successful, it could play a major role in blockchain-based universal basic income (UBI) and fraud-proof online identity verification.
❌ But adoption challenges, regulatory hurdles, and privacy concerns raise serious questions.

📌 Want to stay ahead of the latest trends in crypto, AI, and digital finance? Stay tuned to Zown for expert insights.

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