Worldcoin is a pioneering cryptocurrency project founded with the vision of providing a universal basic income (UBI) to every individual globally. Started in 2021, the initiative was established by Sam Altman, a renowned entrepreneur, investor, and former president of the startup accelerator Y Combinator. On July 24, 2023, it transitioned from beta, rolling out across 11 orb locations in the U.S., with ambitious expansion plans encompassing 35 cities in 20 countries.
Worldcoin’s ticker symbol is WLD. The project stands out for its innovative distribution method, utilizing facial recognition technology to ensure an equal and transparent distribution of cryptocurrency to people worldwide.
The project’s core mission is to address economic inequality and empower communities by offering financial support to everyone. Through a simple facial scan, individuals are verified, and in return, they receive their fair share of Worldcoin.
While the concept of providing a universal basic income has garnered significant attention, Worldcoin’s approach has also raised concerns about privacy and ethical implications related to the use of facial recognition technology on a global scale.
Despite the debates, Worldcoin continues to explore new frontiers in the realm of cryptocurrency and social welfare, challenging traditional economic paradigms.