Worldcoin Project

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About Worldcoin Project:

It is an initiative to create a digital network in which everyone can claim some kind of stake, and join the digital economy.
This venture runs on a simple model: allow your eyes to be scanned in order to prove your human uniqueness, and receive some crypto and an ID (called a World ID) in exchange.
Using a device called “Orb,” Worldcoin volunteers known as ‘Orb operators’ scan a person’s iris pattern to collect their biometric data and help them get a World ID through the World app.
With the app, scanned participants can collect a cryptocurrency called Worldcoin [WLD] at regular intervals or make transactions with their World ID where possible.
This process is called “proof of personhood” and makes sure that people do not sign themselves up multiple times in exchange for crypto.
Worldcoin claims it is building the “world’s largest identity and financial public network” open to people worldwide.
Worldcoin lists 18 locations — largely in Delhi, Noida, and Bangalore — where Orb operators are scanning people’s eyes.

Q1) What is Cryptocurrency?

Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate independently of a central authority, such as a government or financial institution. These digital currencies use blockchain technology, which is a distributed and decentralized ledger to record transactions securely.

Source: Worldcoin | What is Sam Altman’s biometric project, and how does it work in India?