Worldcoin is part of the Tools for Humanity company, co-founded by Altman and Alex Blania. The project includes World ID, a digital identifier for verifying a person's uniqueness, World App, a World ID-compatible app, and a Worldcoin (WLD) token.
The distinctive feature of Worldcoin is its method of token distribution. Individuals who undergo iris scanning using a device called Orb will receive 25 tokens each. The company has partnered with national operators in various countries to facilitate the issuance of World ID. The goal is to combat global poverty by providing access to financial instruments for those who are currently excluded from traditional banking services.
Worldcoin's protocol ensures the confidentiality of biometric data, and it is designed to verify users' identities for a wide range of everyday applications without revealing personal information.
Worldcoin has already signed up over 2 million users for its identity verification process. The total supply of WLD tokens is capped at 10 billion, with 80% allocated for users and the ecosystem, and 20% for the team and investors.