Worldcoin 

The central component of the Worldcoin platform is ‘World ID’, this is designed to offer users a way to verify their identity online while safeguarding their privacy. This system relies on an iris-scanning device called the Orb, which captures the unique iris pattern of each individual, similar to fingerprints, and this is how Worldcoin verify what they call their ‘’proof of personhood”. Using this data, the Orb generates a one of a kind identification code known as the IrisCode. Apparently the IrisCode is not linked to any personal information, serving only to ensure that each user possesses a single World ID.

Once the Orb scans and saves the anonymous IrisCode, it issues the user's World ID and the actual iris images are reportedly permanently deleted. I have to admit the beauty of this system lies in its efficiency, as subsequent identity verification doesn't require repeated iris scanning like one would initially think.

World IDs are then stored on the Worldcoin blockchain and users can utilize their app called ‘World App’. This app acts as a crypto wallet but its primary purpose is to serve as storage for World IDs, so users can verify themselves across various decentralized finance applications.

Alongside your World ID, the World App is intended to also hold access to a growing selection of supported cryptos such as - Bitcoin, Ethereum and USDC, with more digital assets reportedly planned for inclusion in the future. Overall their tech is pretty genius which is nothing less than what I would expect from a co-founder of OpenAI. This approach is trying to combine the advantages of biometric verification with the security and versatility of blockchain technology to offer a solution for online identity verification and decentralized financial interactions. However, like I mentioned in my idea review the iris tech is centralized which does open opportunities for exploitation via malicious parties and this is definitely not the kind of data we want getting into the wrong hands. Show Less