World Network Explained: A Human-Centric Approach to Digital Identity and Finance
Key Takeaways
- World Network (previously Worldcoin) is designed to put humans first, prioritizing their needs and well-being.
- The project leverages cutting-edge technologies like World ID and World Chain to create a secure and efficient platform.
- World Network seeks to make a significant impact on the global digital economy by providing accessible financial services and promoting democratic processes.
- The project is still evolving, and its future success will depend on its ability to overcome challenges and adapt to changing circumstances.
This article delves into the concept of “World Network,” exploring its purpose, and how it is different from Worldcoin.
What Is World Network?
World Network was founded with the ambitious goal of creating a globally inclusive digital identity and financial network. This innovative project aims to address several critical challenges, including:
- Economic inclusion: World Network seeks to expand economic opportunities by providing a reliable and accessible financial system to people worldwide.
- Human-AI differentiation: The project aims to develop a solution to distinguish humans from AI online, preserving privacy in the process.
- Global democratic processes: World Network could enable more inclusive and equitable democratic processes by providing a secure and accessible platform for participation.
- AI-funded universal basic income: The project explores the potential for AI to fund UBI programs, ensuring a basic income for all.
Proof of Human
- Core principle: World Network is built on the concept of “proof of human,” establishing an individual’s unique human identity.
- Addressing a critical challenge: The ability to prove one’s humanity is a pressing issue in the age of advanced AI.
- Potential for standardization: A successful World ID could become a global standard for proof of human.
Core Beliefs
- Importance of proof of human: World Network believes that proof of human is a crucial digital primitive, especially as AI models become more sophisticated.
- Aligning incentives: Scalable and inclusive proof of human can incentivize all network participants to contribute to the network’s growth and development.
- Biometric hardware: In the era of powerful AI, custom biometric hardware is the most reliable way to establish proof of human.
Key Components of World Network
- World ID: A privacy-preserving digital identity network.
- WLD Token: A digital currency, called WLD, issued to all humans.
- World App: The primary interface for accessing World ID and World Network.
Now, let’s explore the three key components of World Network in more detail.
World ID
World ID utilizes zero-knowledge proofs and a custom biometric device called the Orb to achieve this.
The Orb, designed specifically for World ID, is a crucial component of the system. It’s believed that custom biometric hardware may be the most reliable long-term solution for issuing AI-safe proof of human verifications.
World IDs are issued on the World Network, enabling individuals to prove their humanity to any verifier, including traditional web applications. This is accomplished through zero-knowledge proofs, which allow for verification without revealing sensitive personal information. In the future, World ID aims to expand its capabilities to issue other credentials beyond just proof of human identity.
One of the key aspirations for World ID is person-boundness. This means that a World ID should only be used by the individual it was issued to, making it highly resistant to fraud.
Worldcoin Token (WLD)
Worldcoin is issued to incentivize network participants to contribute to the growth of the network. While the ultimate value of Worldcoin will depend on the development of useful applications built on the network, the token’s distribution serves as a powerful motivator for early adoption and growth.
World App
World App serves as the primary interface for interacting with World ID. It guides users through the verification process using the Orb, securely stores World ID credentials, and facilitates private credential sharing with third parties.
The company also launched World App 3.0, a major update to the World Network platform. It introduces Mini Apps, which are third-party apps that can integrate with World ID and Wallet for features like chatting with friends, sending money, and playing games. The update also improves the built-in wallet with features like World Pay for faster transactions and a Vault for earning on your holdings.
Additionally, World App 3.0 allows storing passport information and using World ID to prove things like age without revealing your full identity. World ID Deep Face is coming soon to combat deep fakes in video and chat interactions. Overall, World App 3.0 aims to be a more useful and secure platform for users of the World Network.
Designed for seamless access to global decentralized finance (DeFi), World App is the initial gateway, with more wallets expected to integrate World ID in the future.
How Does World Work?
World revolves around World ID, which works by verifying an individual’s human identity using a custom biometric device called the Orb. The Orb captures multispectral images, which are analyzed to confirm uniqueness and humanity. This data is then used to generate a World ID, a digital credential that can be used to prove identity on various platforms.
How To Engage With World Network
Steps:
- Download World App: This is the primary wallet for interacting with World ID.
- Obtain a World ID: Visit an Orb, a physical imaging device, to get your World ID verified.
- Verify humanness: The Orb uses multispectral sensors to verify your human identity.
- Secure data: Images are deleted on-device unless you consent to data custody.
Benefits of World ID
- Proof of human: Verifies your real, unique human identity.
- Fair airdrops: Enables fair distribution of digital assets.
- Protection against bots: Safeguards against bot attacks on social media.
- Fair resource distribution: Ensures more equitable allocation of limited resources.
- Global democracy: Supports global democratic processes and novel governance models.
- AI-Funded UBI: May contribute to the development of AI-funded universal basic income.
Different Actors of a Proof of Human Ecosystem
A proof of human mechanism involves three primary actors:
- User: The individual seeking to prove their human identity.
- Issuer: The trusted entity that grants PoH credentials.
- Verifier: The entity that checks the authenticity of PoH credentials.
These actors interact in various ways to ensure the integrity and security of the PoH mechanism.
Building Blocks
- Deduplication: Prevents multiple PoH credentials from being issued to the same person.
- Authentication: Ensures only the rightful owner can use the credential, preventing fraud.
- Recovery: Provides mechanisms for restoring lost or compromised credentials.
- Revocation: Enables the removal of invalid or compromised credentials.
- Expiry: Sets a time limit for the validity of PoH credentials.
By effectively implementing these building blocks, a PoH mechanism can provide a secure and reliable way for individuals to prove their human identity.
What Is World Chain?
World Chain is a layer-2 blockchain designed to prioritize humans. It has successfully migrated millions of users from World ID and World App. This marks a significant milestone in the evolution of blockchain technology.
Key Features of World Chain
- Human-centric focus: Prioritizes the needs of individuals.
- World ID integration: Natively integrates the leading anonymous identity verification protocol.
- Global accessibility: Supports users in countries with rapidly growing adoption of stablecoins and cryptocurrencies.
- Enhanced financial access: Facilitates access to financial services for millions of users worldwide.
- Strong partnerships: Collaborates with leading blockchain service providers and applications.
Potential Applications of World Network
World Network seeks to increase global equality of opportunity by providing universally accessible decentralized financial and identity infrastructure. As the network grows, its utility will expand.
Key applications include:
- Global finance: World Network can revolutionize finance by enabling instant, borderless, and secure transactions. This could empower individuals and businesses worldwide, fostering economic growth and reducing financial exclusion.
- Human-AI distinction: In the age of advanced AI, distinguishing humans from bots is increasingly crucial. World Network’s proof of human technology can help combat spam, scams, and other malicious activities, creating a safer and more reliable digital environment.
- Global governance: World Network has the potential to support more democratic and inclusive governance mechanisms. By providing a platform for individuals to verify their identity and participate in decision-making processes, World Network can empower citizens and promote civic engagement.
- Incentive alignment: World Network can help align incentives between consumers and companies by reducing fraud and ensuring fair interactions. This could lead to more innovative and trustworthy business models, benefiting both consumers and businesses.
