For users who have no experience with Worldcoin, World App will serve as a simplified cryptocurrency wallet.
It will function similarly to Coinbase Wallet, Metamask, and other wallets that support crypto trading. World App was built on Polygon and would offer access to specific versions of Bitcoin, Ethereum, and stablecoins. Worldcoin has revealed that more tokens will be available on the platform soon.
The Head of Product at Tools for Humanity, Tiago Sada, explained that World App would attend to all the necessary cryptographic privacy and self-control guarantees. The super-friendly app can also be a digital passport for those with an authenticated World ID.
Tools for Humanity has worldwide aspirations, and it claims that its wallet software is more user-friendly than existing wallet services. To avoid overwhelming inexperienced crypto users, the app has a clean, “minimalist” appearance, has a relatively bare-bones feature set, and supports a limited number of crypto coins.
World ID holders have had access to a beta version of the World App for some months. Since its initial launch, 1.5 million people have joined the beta, with over 500,000 using it monthly.
On a typical day, it handles around 60,000 transactions and 25,000 World ID verification from over 100,000 people worldwide.
What is Worldcoin and the Purpose of World App?
The co-founder of Open AI (the developer of the viral ChatGPT), Sam Altman, developed Worldcoin last year. Worldcoin featured a metallic sphere that scanned the retinas of users for authentication. Along with a harsh publication by the MIT Technology Review, Worldcoin sustained major hits within weeks of its release. The review accused the crypto project’s developer, Tools for Humanity, of deceiving and exploiting workers.
The crypto project developed a sceptical vision for a universal basic income (UBI). The UBI would be a token given to everyone in the world in equal quantity. To bounce back from the negative reviews and rise above the ongoing crypto winter, Worldcoin restructured its vision to focus on proof of personhood.
World App will enable developers to use its biometrically verified human network. It will serve as a portal for World ID users to retrieve their allocation of World coins. The token is still unavailable for claims in the United States due to legal considerations, and the mechanics of the claim procedure in other countries remain a bit hazy.