History of Worldcoin
Worldcoin is a cryptocurrency
project and digital identity network founded with the ambitious goal of
creating a universal proof of personhood and financial network accessible to
every human on Earth. Key
Milestones and Timeline
|
Year |
Event |
Details |
|
2019 |
Founding |
Worldcoin is co-founded by Sam Altman (CEO of
OpenAI), Alex Blania (CEO of Tools for Humanity), and Max
Novendstern (who later left the project in July 2021). |
|
2019-2023 |
Development and Beta Phase |
The project, developed by Tools for Humanity,
focused on creating the World ID (a privacy-preserving digital
identity) and the Worldcoin (WLD) token. They developed the Orb,
a custom biometric device for iris scanning to verify unique humanness. By
March 2022, Worldcoin had verified 450,000 individuals globally. |
|
2021-2023 |
Funding Rounds |
The project raised significant capital from major venture
capital firms, including Andreessen Horowitz (a16z), Khosla
Ventures, and Blockchain Capital, accumulating over $250 million. |
|
July 24, 2023 |
Official Launch |
Worldcoin launched out of beta. The WLD token became
freely tradable on various cryptocurrency exchanges. The launch included initial
Orb locations in several countries, aiming for global expansion. |
|
2024 |
Expansion and Rebranding |
The project saw rapid user growth, with the World App
reaching millions of users. Worldcoin later rebranded as World Network
(or simply "World") in a bid to expand its scope beyond just the
cryptocurrency and emphasize its digital identity network. |
|
2024-2025 |
New Initiatives |
The project continued to evolve, announcing plans for World
Chain, an L2 blockchain designed for human-centric applications, and
launching operations in major US cities. |
Core
Vision and Purpose The founders created Worldcoin with
a three-part mission: Create a Global ID (World ID): To provide a reliable, privacy-preserving, and anonymous
way to distinguish humans from AI bots online—a "Proof of
Personhood." This is becoming increasingly critical in the age of advanced
AI. Establish a Global Currency (WLD): The native digital token, WLD, is designed to be
distributed widely and fairly to unique individuals as an effort toward universal
financial inclusion and potentially a path to AI-funded Universal Basic
Income (UBI). Provide a Global App (World App): A functional wallet that allows users to access the
network, manage their World ID, and use the WLD token for payments and other
digital assets. Technology
Worldcoin's core technology
involves: The Orb: A custom
biometric imaging device that scans a user's iris to verify they are a unique
human. Worldcoin states that it uses privacy-preserving techniques, such as zero-knowledge
proofs and local processing, to ensure that the iris images are deleted and
only a unique, non-reversible "Iris Code" (cryptographic hash) is
stored to prevent duplicates. World ID: A digital passport
created after verification by the Orb, allowing users to prove their unique
humanity online without revealing their personal identity. WLD Token: An ERC-20 token operating on the Optimism "Laye
network on top of the Ethereum blockchain.
