World App Launches, Bringing Decentralized Identity and Finance to Billions

Crypto was born out of the desire to create a financial system that is more inclusive, transparent, and decentralized. However, despite the immense potential of cryptocurrencies like ETH and BTC, they are still inaccessible to a vast majority of people worldwide. According to an estimate, out of over 8 billion people across the world, only 4.2% own crypto.

This lack of accessibility is a major roadblock in the adoption of cryptocurrencies. To overcome this challenge, we need to build more user-friendly tools and support systems that cater to people from all walks of life. This means creating solutions that are intuitive, affordable, and easy to use.

Imagine an app that makes digital assets accessible to everyone, regardless of where they live, their income level, or their background. This app would be user-friendly and intuitive, making it easy for people to buy, sell, and manage their digital assets with just a few taps. In short, such an app would be a game-changer for the world of digital assets. It would democratize access to financial opportunities, and help people take control of their financial futures.

Sam Altman’s Worldcoin aims to make crypto accessible to all

From AI to crypto, Sam Altman continues to push the boundaries of innovation. With his latest venture, Worldcoin, he’s leading the charge towards a more decentralized future. Launched in 2020, the project has already raised $125 million in funding from leading VCs, including Andreessen Horowitz, Multicoin Capital, and Hashed.

Worldcoin aims to bring self-custodial, open source digital wallets to the masses. And that’s not all – the protocol also offers a unique way to prove your humanness online, using cutting-edge technology. With Worldcoin, Sam Altman is making the world of crypto more accessible and understandable for everyone.

The Launch of World App

TFH, the team behind Worldcoin, has announced the launch of its World App wallet, which aims to make decentralized identity and finance accessible to billions of people around the world. The wallet is also the first to natively support the Worldcoin ecosystem.

The World App is designed for simplicity and engineered for privacy and inclusivity. It allows users to prove their personhood with World ID, claim Worldcoin Grants, send money to anyone for free, and explore crypto tokens. Over time, it will evolve to empower individuals in the Age of AI, built on top of the largest network of real humans.

After extensive development and learnings of more than 1.5 million beta users, Phase I of World App is now globally available. The wallet is available for download in more than 80 countries.

World App is different from other wallets in that it doesn’t expose every possible token or configuration. Instead, it focuses on a few essential tasks to keep things simple and familiar so anyone can use it.

World ID works as a human passport that lets users seamlessly sign in to websites, mobile apps, and crypto dapps without sharing personal data like names or emails.

Users can save and send digital money, with multiple options to deposit and withdraw using bank accounts or local payment methods. They can also instantly send money to friends or family members around the world using their phone contact or crypto address for free.

World App also allows users to explore and use crypto, including Ethereum and Bitcoin, with more tokens coming soon. Users can track their holdings, get notified of major price movements, and easily trade with their dollar balance.

World App offers gas-free transactions with verified World ID, notifications for operations, and 24/7 chat support in English, Spanish, and Portuguese.

It is powered by composability, which allows it to programatically mix and match open protocols and APIs to make it a reality.

World App is self-custodial, meaning it does not require any personal information, and any information that is shared can be deleted with the tap of a button. World ID and wallet keys are self-custodial and can be optionally backed up to Google Drive or iCloud for syncing and recovery.

The native iOS and Android apps are engineered to maximize inclusivity. They are around 18MB, 5x smaller than the industry average, and support most active smartphones in the world, including some more than 10 years old.

TFH is excited about the role that World App is playing in providing simple yet powerful tools enabled by decentralized technologies. It believes that this will lead to privacy-preserving Proof-of-Personhood, access to internet-native financial services, equitable global distribution of digital currencies, governance of public goods, and ultimately a path to AI-funded non-state UBI.

Read Also: Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask

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• Source: https://alexablockchain.com/world-app-launches-bringing-decentralized-identity-and-finance-to-billions/