Sam Altman, the founder of Worldcoin, recently announced the launch of the World App, an ecological wallet that allows billions of people worldwide to access their decentralized identity and financial services. This is the first wallet that natively supports the Worldcoin ecosystem.
Worldcoin, founded by Sam Altman, Alex Blania, and Max Novendstern in June 2021, completed a $25 million financing round with support from well-known investors such as a16z, Coinbase Ventures, Reid Hoffman, and Day One Ventures. Currently, Worldcoin has raised $125 million from leading risk investment companies such as Andreessen Horowitz, Multicoin Capital, and Hashed.
According to AlexaBlockchain, the World App is different from other wallets as it hides tokens or configuration elements as much as possible. Instead, it focuses on basic tasks to attract more people to try it out with a simple and familiar experience. The World App is designed with a modular approach that matches open protocols and APIs with programming, which creates an excellent user experience. The World App is designed to be simple, private, and inclusive. Users can use World ID to prove their identity and apply for Worldcoin Grants, make free remittances to anyone, and use more cryptocurrencies. World ID acts as a passport, allowing users to seamlessly log in to websites, mobile apps, and encrypted dapps without sharing personal data such as their name or email. Users can deposit and withdraw digital currencies and complete transactions through various options such as bank accounts or local payments. Additionally, users can send free remittances to friends and family worldwide using their phone numbers or encrypted addresses. The World App allows users to use more cryptocurrencies, including Ethereum and Bitcoin, with more supported currencies to be launched soon. Users can track the specific holdings of each currency, receive price change notifications, and easily buy using their legal currency balance.
Tiago Sada, product manager of Tools for Humanity behind Worldcoin, said, “In fact, you may find that the functions on the World App are intentionally fewer than those on other wallets.” In addition, the World App has self-hosting features, which means it does not require any personal information, and all shared information can be directly deleted by clicking a button.
World ID and wallet keys are also self-hosted, and users can choose to back them up to Google Drive or iCloud for synchronization and restoration.After extensive development and learning from 1.5 million beta users, the first phase of World App has now been globally launched, with the wallet available for download in over 80 countries/regions. The native app for iOS and Android emphasizes inclusivity, with a size of only 18MB, one fifth of the industry average, and supports various phone models, including those released over a decade ago. Is World App the “ID card” of the 2AI era? Sam Altman, who has always been concerned about encryption projects, has praised token mechanisms and believes they can serve as a way of providing a universal basic income, offering a fair financial infrastructure for low-income populations.
In June 2021, Sam Altman, along with Alex Blania and Max Novendstern, joined the cryptocurrency company Worldcoin, aiming to provide the public with a self-custody open-source digital wallet, as well as online identity verification through a unique cutting-edge technology. With Worldcoin, Sam Altman is making it easier and more convenient for everyone to enter the world of cryptocurrency.
The World App aims to create a unique ID verification program (World ID), issue related cryptocurrencies, and develop related applications. The team behind Worldcoin, TFH, is excited about the critical role of World App in promoting decentralized technology and privacy-protecting identification. While some have raised questions about World App being just another “hedge fund”, others believe that the development of World App will empower everyone in the AI era, building a network based on genuine relationships. However, the prospects for the development of World App still need to be tested by time.