Starting today, our users will have the ability to buy Worldcoin (WLD), first via Ramp on our website or through our network of integration partners, and soon also directly on the World app.
This exciting development is a major step forward in our continuous efforts to bring the most innovative and impactful projects to our platform.
Why Worldcoin matters
Worldcoin's mission to build an inclusive, global identity and financial network aligns perfectly with our mission at Ramp. Their goal is to empower humans, and not just bots, to take the lead in a new financial system.
Co-led by Sam Altman, the CEO of OpenAI, Worldcoin’s World ID aspires to be person-bound, meaning a World ID should only be used by the individual to whom it was issued. This is achieved via a carefully designed system that uses the hash of each user’s biometric iris scan to create a unique identity to which the tokens are bound.
The aim of using an iris scan is to make it more difficult for a fraudulent actor to steal or acquire World ID credentials that don't belong to them, while also making it easier for users to regain possession of a lost or stolen World ID.
The innovative proof-of-personhood concept, underpinning Worldcoin, stems from the ingenious implementation of custom biometric hardware, specifically an iris-scanning device called the Orb.
The primary goal is to ensure that each participant in the Worldcoin network is a unique human being, thereby eliminating the risk of AI-driven bots or duplicate identities manipulating the system - a risk that Worldcoin’s Sam Altman is quite familiar with, and which historian and Sapiens author Yuval Noah Harari warned against many times before:
Now it is possible, for the first time in history, to create fake people—to create billions of fake people. You interact with somebody online, and you don’t know if it’s a real human being or a bot.
Yuval Noah Harari
Using multispectral sensors, the Orb scans the unique pattern of a user's iris, which is far more distinct than even a fingerprint. Once scanned, the user's biometric data is converted into a cryptographic key, representing a World ID, that verifies the user is a unique human.
The company emphasizes that after verification, all images collected during the process are immediately deleted on the device as a default practice (unless explicit consent for Data Custody is provided), ensuring users' privacy and data protection. This approach creates an AI-resistant mechanism for verification, setting a new standard in digital identity.
The use of this iris scan biometric verification process is aimed at putting humans in the forefront of the financial system Worldcoin envisions. It aims to ensure that the digital world is populated by verified human users, not bots or AI-controlled entities.
In a landscape where the digital and physical worlds increasingly overlap, it's paramount to ascertain who is real and who is not. With Worldcoin's Orb, they take a giant leap towards a future where human identity is preserved, respected, and central to all interactions in the digital sphere.
In essence, Worldcoin's goal is to place humans as the lead actors in the global financial narrative, using innovative technology to recognize and prioritize our unique identities. This not only strengthens the integrity of the Worldcoin network but also reflects a broader shift in web3 and decentralized systems - an alignment of technology with humanity, putting people, not bots, at the heart of the future.
We look forward to seeing how this journey unfolds and how it shapes the digital world, one World ID at a time.
WLD launch details
Initially, we’re providing an on-ramp for WLD running on Optimism (OP), but we’re also working on offering WLD in other networks, such as Ethereum. This aligns with our mission to prioritize scalability and efficiency while fostering a seamless and intuitive experience for our users.
Due to current restrictions, our Worldcoin on-ramp service will not be available in the US at launch. We're continuously assessing the developments in the regulatory landscape for any potential changes.
During this initial phase of integration with Worldcoin, we'll provide on-ramp services only. However, we're working around the clock to extend off-ramp services for WLD during the second half of 2023.
What lies ahead
We’re optimistic about the future of Worldcoin, and we want to be a part of this journey. We believe that this partnership has the potential to bring about a fairer, more equitable financial system for everyone.
Join us in the crypto revolution now!