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Worldcoin's World ID verifies unique human identity using an "Orb" device that scans iris patterns, generating a World ID as a "proof of personhood" token without storing the raw biometric image. Instead, a numerical representation (iris code) is created. The project emphasizes privacy by design, aiming to delete the original biometric data after a World ID is successfully generated and verified, offering users the option for secure data custodianship. This approach intends to distinguish humans from AI online while minimizing personal data retention. The project states that users can request deletion of their biometric data, with verifiable processes for data handling.

The project's tokenomics outline a fixed total supply, with an initial distribution plan allocating tokens to the team, community, and early investors. The Worldcoin token (WLD) serves multiple utilities within its ecosystem. It is designed to facilitate governance, allowing holders to participate in protocol decisions. Additionally, it can be used for payments or to access certain services within the World App and broader Worldcoin network. While the document doesn't detail staking or burning, the primary utility centers around empowering users with a share in the network's future and enabling participation in its proposed new financial system.

Worldcoin is navigating a complex and evolving regulatory environment globally. The project has faced scrutiny and bans in various countries due to concerns primarily surrounding data privacy and the collection of biometric information. They aim to address these concerns by engaging with regulators and developing their technology in a privacy-preserving manner. The project's structure and the utility of its token are designed with consideration for regulatory compliance, attempting to avoid classification as a security. Continuous dialogue with legal experts and authorities is crucial to adapt to licensing requirements and ensure long-term operational viability.

Worldcoin tokens are primarily distributed as an incentive for users to verify their unique human identity via the "Orb" and receive a World ID. The core incentive is to provide access to a global digital network and a stake in a new financial system, potentially akin to a form of universal basic income in the digital realm. To prevent multiple sign-ups and token claims, the "Orb" technology is designed to ensure that each individual is verified only once by generating a unique iris code. Despite past glitches, the system aims for singular verification to maintain fairness and integrity in its distribution model.

Worldcoin's long-term vision is to create a universally accessible identity and financial network that can distinguish humans from AI in an increasingly digital world. This "proof of personhood" aims to enable fair AI access, governance, and potentially a form of universal basic income. Its ambition to build a new financial system could have significant societal and economic impacts, aiming for greater inclusion and potentially altering traditional financial structures. Addressing concerns about "data colonialism," the project emphasizes privacy and user ownership of their World ID, aiming to empower individuals rather than exploit them, though this remains a point of ongoing discussion and development.

Worldcoin prioritizes the security of its smart contracts through rigorous auditing processes by independent security firms and continuous monitoring. Measures are in place to identify and mitigate potential vulnerabilities, protecting the integrity of the network and user assets. For scalability, the project leverages a Layer 2 solution built on a major blockchain network, which allows for higher transaction throughput and lower costs compared to Layer 1. This architecture is designed to handle a global user base and significant transaction volumes, ensuring that the system can expand without compromising speed or efficiency, while maintaining the security properties of the underlying blockchain.