> For the complete documentation index, see [llms.txt](https://worlddao.gitbook.io/worlddao-white-paper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://worlddao.gitbook.io/worlddao-white-paper/introducing-worldcoin/potential-applications.md).

# Potential Applications

Worldcoin could significantly increase equality of opportunity globally by advancing a future where everyone, regardless of their location, can participate in the global digital economy through universally-accessible decentralized financial and identity infrastructure. As the network grows, so should its utility.

Today, many interactions in the digital realm are not possible globally. The way humans transact value, identify themselves, and interact on the internet is likely to change fundamentally. With universal access to finance and identity, the following future becomes possible:

#### [Finance](https://whitepaper.worldcoin.org/#finance) <a href="#finance" id="finance"></a>

**Owning & Transferring Digital Money**: Sending money will be near instant and borderless, globally. Available to everyone. The world could be connected financially and everyone would be able to interact economically on the internet. The COVID relief fund for India, where over $400 million were raised in a short period of time by individuals around the world to support the country as a hint at what can be possible. Overall, this has the potential to connect people on a global scale unlike anything previously seen in human history.

Digital money is safer than cash, which can be more easily stolen or forged. This is especially important in crisis situations where instant cross-border financial transactions need to be possible, such as during the Ukrainian refugee crisis, where USDC was used to distribute direct aid. Additionally, digital money is an asset that individuals can own and control directly without having to trust third parties.

#### [Identity](https://whitepaper.worldcoin.org/#identity) <a href="#identity" id="identity"></a>

**Keep the Bots Out:** Bots on Twitter, spam messages, and robocalls are all symptoms of the lack of sound and frictionless digital identity. These issues are exacerbated by rapidly advancing AI models, which can solve CAPTCHAs and produce content that is convincingly "human". As services ramp up defenses against such content, it becomes essential that an inclusive and privacy-preserving solution for proof of personhood is available as public infrastructure. If every message or transaction included a "verified human" property, a lot of noise could be filtered from the digital world.

**Governance:** Currently, collective decision making in web3 largely relies on token-based governance (one token, one vote), which excludes some people from participating and heavily favors those with more economic power. A reliable sybil-resistant proof of personhood like World ID opens up the design space for global democratic governance mechanisms not just in web3 but for the internet. Additionally, for AI to maximally benefit all humans, rather than just a select group, it will become increasingly important to include everyone in its governance.

#### [Intersection of Finance and Identity](https://whitepaper.worldcoin.org/#intersection-of-finance-and-identity) <a href="#intersection-of-finance-and-identity" id="intersection-of-finance-and-identity"></a>

**Incentive Alignment:** Coupons, loyalty programs, referral programs and more generally sharing value with customers is traditionally prone to fraud as the incentives for fraudulent actors are high. Frictionless and fraud resistant digital identity helps to align incentives and benefit both consumers and companies. This could even incept a new wave of companies owned in part by its users.

**Equal Distribution of Scarce Resources:** Crucial elements of modern society, including subsidies and social welfare, can be rendered more equitably by employing proof of personhood. This is particularly pertinent in developing economies, where social benefit programs confront the issue of resource capture—fake identities employed to acquire more than a person’s fair share of resources. In 2021, India [saved over $500 million](https://www.thehindubusinessline.com/news/national/with-dbt-government-forecasts-saving-of-over-44000-crore-in-fiscal-2020-21/article37737578.ece) in subsidy programs by implementing a biometric-based system that reduced fraud. A decentralized proof of personhood protocol can extend similar benefits to any project or organization globally. As AI advances, fairly [distributing access and some of the created value](https://openai.com/blog/planning-for-agi-and-beyond) through UBI will play an increasingly vital role in counteracting the concentration of economic power. World ID could ensure that each individual registers only once and to guarantee equitable distribution.


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