The term 'Worldcoin' which was recently seen in news, is a/an?

Question

The term 'Worldcoin' which was recently seen in news, is a/an?

1. A. Global digital currency backed by a consortium of central banks.
2. B. Non-profit organization working to provide internet access in remote areas.
3. C. Blockchain-based social media platform aiming to compete with existing giants.
4. D. Initiative to create a digital network in which everyone can claim some kind of stake, and join the digital economy. (Correct answer)

Correct Answer

Option D — Initiative to create a digital network in which everyone can claim some kind of stake, and join the digital economy.

Detailed Solution & Explanation

The correct answer is Initiative to create a digital network in which everyone can claim some kind of stake, and join the digital economy..

Key Points

• Worldcoin (now called 'World') was co-founded by Sam Altman.
• It uses iris-scanning biometrics to create unique digital identities and aims to build a global network where everyone can claim a stake and participate in the digital economy.

Additional Information

• Worldcoin, since rebranded World, was co-founded by Sam Altman and issues a digital ID called World ID, verified by scanning the iris with a device known as the Orb.
• Several data-protection authorities, including in Spain, Portugal, Kenya and Hong Kong, restricted or suspended its operations over biometric-privacy concerns.
• The scheme is frequently discussed alongside universal basic income, since its stated aim is giving everyone a verifiable stake in the digital economy.