World Network, originally Worldcoin, is a for-profit cryptocurrency project that uses iris biometrics developed by San Francisco- and Berlin-based Tools for Humanity.

Worldcoin project was started by a company called Tools for Humanity (TFH), founded by Sam Altman, Max Novendstern and Alex Blania in 2019.

[10] Further funding of $115 million was announced in May 2023, to be used for investment into bot detection, research and development, and expanding the Worldcoin project and application.

[17] Worldcoin hopes to provide a reliable way to authenticate humans online called World ID,[18] to counter bots and fake virtual identities facilitated by artificial intelligence.

[19] In order to access their WLD, users are required to provide an email address or phone number and use the Worldcoin app.

[3] The currency has not formally launched in the US and other countries because of concerns by national regulators regarding privacy and potential use of the tokens for fraudulent purposes.

[12] In July of 2023, the data protection authorities in both France (CNIL)[21] and the United Kingdom (Information Commissioner's Office)[22] announced they had opened investigations into Worldcoin over privacy concerns.

[30] On 22 May, the Office after investigation found Worldcoin has violated the privacy rules through collection of face and iris images from those participating in the project.