That is my superficial understanding as well but if we are both correct, what is the point?
One of the only (dubious) advantages of crypto is that nothing ties a wallet to a person, or a wallet to another wallet unless they interact. How is WorldCoin better than just having a bank account that you have to go into a bank in person to set up?
> How is WorldCoin better than just having a bank account that you have to go into a bank in person to set up?
I think the idea is both about being able to use it for ID (specifically, ID that you are a unique human being), while also making it accessible in places where there's large "unbanked" populations. If it was BankAccountCoin, there would be over a billion people left out. I'm not a fan of it, and I don't think it will ever work as well at this as it will at making Sam a bit more cash, but the concept isn't entirely flawed.
> That is my superficial understanding as well but if we are both correct, what is the point?
The point is that application developers can limit access to their $whatever by real humans, and force uniqueness.
> One of the only (dubious) advantages of crypto is that nothing ties a wallet to a person, or a wallet to another wallet unless they interact. How is WorldCoin better than just having a bank account that you have to go into a bank in person to set up?
This seems to be generally about cryptocurrencies at large, doesn't seem specific to Worldcoin as far as I understand.
I think the assumption is that "Someone wants to use a cryptocurrency and someone built a platform, now the builder wants to make sure the user is unique", and without that, then there isn't really anything to discuss.
One of the only (dubious) advantages of crypto is that nothing ties a wallet to a person, or a wallet to another wallet unless they interact. How is WorldCoin better than just having a bank account that you have to go into a bank in person to set up?