The Worldcoin 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.

Worldcoin claims it is building the “world’s largest identity and financial public network” open to people worldwide.

It is a project to build a digital network where anyone can have a stake and participate in the digital economy.

This business operates on a straightforward principle: in exchange for allowing your eyes to be scanned to verify your human uniqueness, you will earn some cryptocurrency and an ID (known as a World ID).

Worldcoin volunteers known as "Orb operators" scan a person's iris pattern using a gadget called "Orb" to acquire their biometric data and assist them in obtaining a World ID through the World app.

Through the app, scanned users can make purchases with their World ID or collect Worldcoin [WLD], a cryptocurrency, at regular intervals.

The "proof of personhood" procedure ensures that individuals do not sign up for multiple accounts in exchange for cryptocurrency by preventing this from happening.

Globally accessible "world's largest identity and financial public network" is what Worldcoin claims it is creating.