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In a groundbreaking move, global crypto on-ramp provider Ramp has partnered with Worldcoin to offer direct purchases of Worldcoin (WLD) to users worldwide, except for those in the United States. This strategic collaboration marks a significant step forward in bringing innovative and impactful projects to the Ramp platform. Worldcoin’s mission of building an inclusive, global identity, and financial network aligns perfectly with Ramp’s vision. The company’s objective is to empower individuals, rather than AI bots, to play a leading role in shaping a new and equitable financial system.
Worldcoin’s Vision for a Genuine Digital Future
At the heart of Worldcoin’s groundbreaking system is the World ID, a unique identifier that is person-bound. This means each World ID is issued exclusively to the individual whose biometric iris scan forms the basis of its creation. The utilization of iris scans is intended to deter fraudulent actors from stealing or acquiring World ID credentials that do not belong to them, while also ensuring a straightforward process for users to regain control in case of a lost or stolen World ID.
The concept of “proof-of-personhood” is central to Worldcoin’s identity verification process. This innovative approach relies on a custom biometric hardware device known as the Orb. By using multispectral sensors, the Orb captures the distinct pattern of a user’s iris, which is more unique than even a fingerprint. This data is then converted into a cryptographic key, creating a World ID that verifies the user’s status as a unique human being.
Worldcoin‘s emphasis on privacy and data protection is evident through its practice of immediately deleting all collected images during the verification process on the Orb device, unless explicit consent for Data Custody is given. This approach establishes a robust AI-resistant mechanism for identity verification, setting a new standard for digital identity solutions.
By adopting this iris scan biometric verification process, Worldcoin aims to put humans at the forefront of the financial system they envision. In a digital world where bots and AI-controlled entities can obscure genuine human interactions, the Orb becomes a pioneering tool that separates real people from automated entities. This emphasis on verifying genuine human users reflects a broader trend in Web3 and decentralized systems, where technology is aligned with humanity, prioritizing individual identities.
Worldcoin Integration Opens New Opportunities on Ramp
Through their integration with Worldcoin, Ramp underscores its commitment to this shared vision of a future where technology improves humanity rather than replacing it. By providing an on-ramp for WLD on the Optimism network, with plans to expand to other networks like Ethereum, Ramp prioritizes scalability and efficiency while ensuring a seamless experience for its users.
However, due to current regulatory restrictions, the Worldcoin on-ramp service will not be available in the United States at the time of launch. Ramp continues to monitor developments in the regulatory landscape to assess any potential changes that might allow US-based users to access the service in the future.
As the integration with Worldcoin progresses, Ramp is dedicated to offering not only on-ramp services but also off-ramp services for WLD during the second half of 2023. This move will provide users with the ability to easily convert WLD back into other assets or fiat currencies, enhancing the overall liquidity and usability of the cryptocurrency.
The partnership between Ramp and Worldcoin signifies a shared commitment to building a fairer and more equitable financial system. As the journey unfolds, both companies anticipate contributing to a future where digital economies prioritize verified human identities, creating a world where individuals are at the heart of every interaction in the digital realm.
Ramp users and crypto enthusiasts can now look forward to this exciting new chapter, where seamless access to Worldcoin through the platform opens up opportunities for greater financial inclusion and empowerment. As the crypto space continues to evolve, Ramp and Worldcoin are dedicated to providing cutting-edge solutions that align technology with humanity’s best interests.