WorldCoin WDC
Crypto Overview
Purpose and Intended Use
WorldCoin is a cryptocurrency project launched by Tools for Humanity that aims to create a global digital identity and financial network. The project's core feature is the 'World ID' system, which uses biometric iris scanning through an orb device to verify unique human identities. The WLD token is designed to facilitate governance of the WorldCoin protocol and serve as a medium of exchange within its ecosystem.
Business Model Evaluation
The project's business model centers around creating a global identity verification system and distributing tokens to verified humans. The core operations involve legitimate technological development and don't inherently involve any prohibited activities like gambling or interest-based lending.
Real-World Adoption
As of late 2023, WorldCoin has registered over 2.6 million people through their orb verification system. The project has active partnerships with various organizations and continues to expand its verification operations globally, despite facing regulatory challenges in some jurisdictions.
Platform Development
The project maintains active development of both its software platform and hardware orb devices. The team regularly updates the protocol and has an active GitHub repository showing continuous technical progress.
Token Distribution
The token distribution includes allocations for the team, investors, and ecosystem development, with vesting periods in place. While a significant portion is allocated to the founding team and investors, this is structured with long-term vesting schedules to align incentives.
Crypto Impact
To assign a comfort level investing in WorldCoin WDC from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to WorldCoin WDC.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.