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Information about Worldcoin (WLD)
Worldcoin is a protocol for developing personal identity-related products, created to make it easier for users to identify themselves in the booming era of AI.
Worldcoin uses a product called “The Orb” to scan a user’s retina, then uses a Proof of Personhood mechanism to verify their identity and store the data on the blockchain. In addition, Worldcoin also developed the World App to help users store digital assets in a simple and convenient way.
WLD is a native token of the Worldcoin ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
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News
Brazil’s data protection agency has reaffirmed its ban on World ID’s cryptocurrency payments, citing user privacy. The agency’s rejection of Tools For Humanity’s petition was announced on March 25, emphasizing the risks of compromising user consent.
Tools For Humanity faces significant penalties, including a daily fine of 50,000 Brazilian reais (approximately 8,800 USD), if data collection persists. This ban signals a tougher stance on biometric data practices in Brazil.
World Network is in negotiations with Visa to create a stablecoin wallet that would enhance crypto capabilities for Visa users. Tools for Humanity, World Network’s parent company, is leading this initiative aiming to introduce extensive wallet features.
Following the announcement, Worldcoin’s price surged by 13%, reflecting market optimism. Despite this positive reaction, the finalization of the partnership is uncertain, and stablecoin integration faces inherent market challenges.
Razer has joined forces with identity protocol World to verify human players in online games, countering the impact of AI bots. The initiative intends to enhance fairness in gaming.
The Razer ID will be integrated into the Web3 game Tokyo Beast. Users can acquire verified IDs through physical sites or utilize World’s technology for human verification.
Worldcoin has introduced World Chat in the World App, integrating encrypted messaging with cryptocurrency transfers. This feature uses World ID for identity verification, allowing users to send crypto directly in conversations.
World Build, a new incubator by Worldcoin, aims to support developers in creating Mini Apps, enhancing user interaction with blockchain technology. The initiative has already attracted over 150 developers.
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