The day is July 24 - 2023, the Worldcoin launches and disrupts some parts of the world and the internet. The ORBs meet a lot of people than I have in my lifetime and the crypto-verse receives a new unique member - The Worldcoin.

To many, Worldcoin is an App, an ORB, UBI, or perhaps a Ponzi scheme. Buckle up as I take you through an overview and stimulate your cognitive interaction.

Imagine a world where everyone around the globe, regardless of who they are, could participate in the growing digital economy and benefit from decentralized, collective ownership. What would it take to get there? ~Worldcoin

Background and common phrases.

What is a Cryptocurrency (crypto)?

A cryptocurrency is a digital or virtual currency that is not controlled by a single entity or organization. Instead, crypto relies upon the blockchain - a public ledger that can be viewed by anyone on the internet. Unlike traditional currencies (fiat currencies) controlled by the Government and Central banks like the USD, Euro, CNY, and the Ksh.

Crypto then resides in a wallet that you can easily create which is a way to see your balance, send and receive cryptocurrencies. You have probably interacted with a crypto wallet. Some of the popular wallets are Metamask, Gemini, Ledger, and of course the World app.

Hot and Cold Crypto Wallets.

Hot wallets are those that are connected to the internet they can be looked up by anyone, and their balance is publicly available, Cold wallets on the other hand are like the wallet in your pocket - if you have one. They are hard and touchable or sometimes offline software that never come in contact with the internet until the time of transacting, we’ll dive deeper into this topic some other day in another post.

Airdrop.

A crypto airdrop is more of a marketing/ awareness strategy - it does not run forever. Blockchain companies award you with some crypto directly to your wallet with no cost or obligation ie: you don’t pay. Airdrops are used for token distribution, marketing awareness, and fostering loyalty for early adopters.

Worldcoin can only be referred to as Worldcoin. Not WorldCoin or World coin and traded as WLD**.**

Now that we have learned some common words let’s go ahead and talk more about Worldcoin.

Worldcoin Genesis.

In 2020, Sam Altman, Alex Blania, and Max Novendstern founded The Worldcoin as a scalable solution for distinguishing humans from AI online, equally sharing funds, and proving personhood with Zero Knowledge Proof. To do this you are verified by an ORB and its operator. This ensures that the Worldcoin adopter’s headcount only has real humans.

The Worldcoin Airdrop.

Any person with a valid World ID is eligible to receive the Worldcoin Airdrop, the process is quite straightforward. No websites, all you need is to click three buttons. Learn how to setup up your World App & World ID. 

Unlike other airdrops that are unclear and may have scammer-cloned websites, you can only claim your Worldcoin grant by using the World ID.

Many airdrops only reach a few people who dig the internet to find them, which results in less adoption by the public. Statistics show that only 3% of the world population knows crypto as a technology, well, if anything that is depressing. For anything to be successful it has to have to have a mass adoption. To solve this adoption issue airdrops come into the picture. 

Worldcoin is the only crypto that can be equally amongst everyone. Yeap, no connections, we are all equal. By giving as many unique people as possible an equal share of the new currency many people learn what Crypto is and own some too. To get why this is a new advanced development you have to understand the process of issuing a World ID and verifying unique personhood, I’ll have to wish you luck on that and perhaps touch a little bit on it.

Yesterday, I got my fair share of 25 Worldcoins as am not a Us Citizen.

I am the Orb, I collect your Iris data, hash it and store the hash (iris hash) in a database for future comparisons. In case you show up at an Orb again I will hash your Iris again compare it with the existing database and return an error.

You cant verify twice… Please

The Orb hashes your Iris, everyone has unique Iris data and the Orb has a fraud detection system, come wearing contact lenses, and the Orb will detect fraud & spoofing. Take your pet at the Orb and see if it fails.

This advanced technology keeps the World ID & Coin secure but has disadvantages too. While not trying to be negative here are the advantages.

  1. Uniqueness: The iris theoretically contains enough information to distinguish nearly all humans uniquely.
  2. Fraud-resistance: The iris is difficult to physically modify and the biometric capture can be made hard to spoof.
  3. Practicality: The required imaging technology already exists, and for the user, presenting their iris is a fast and simple process.

But the question arises? How do blind or highly visually impaired individuals verify since their Iris patterns are unclear & deformed, that is my question to the Worldcoin founders & contributors. For now, it’s not possible.

Transferring your Worldcoins.

Before launch, Worldcoin used to run the Ethereums’ ERC20 mainnet but migrated to Optimism. Optimism is a Layer2 scalability solution for the Ethereum blockchain developed by Mark, Karl, and Kevin Ho back in 2019. Optimism users save 85% to 95% compared to Eth mainnet users.

To transfer your grant, ask the receiver’s Optimism or Eth mainnet address and that’s it, No border limitations, No censorship.

Scan transactions all transaction

Remember we said that the blockchain transactions are recorded in a public ledger that anyone can scan. Head over to [https://optimistic.etherscan.io/ ](https://optimistic.etherscan.io/) and enter an optimism address where you can see all transactions associated with that address. 

At this point, I should receive an Orb and start my new job by next week. I believe you have already learned a lot hopefully I shed enough light. Hit the edit button to improve this article.

Or maybe Worldcoin is the one world Government and the grant is the Universal Basic Income?

But here is the thing, anything that can go wrong will eventually go wrong. You can delay technology but you can never stop it.

Go ahead and grab some WLDs the price might outpass the BNB value. Am going to wrap things there.Thanks for reading… see you in the next one.

#WorldcoinGrantsBelongToEveryone   #toolsForHumanity