World, developed by Tools for Humanity, has launched a significant update to its mobile app, introducing World Chat and expanded crypto-linked payment features.
New Messaging and Payment Features
The update includes World Chat, an encrypted messaging service, and broadened crypto payments allowing virtual bank accounts, payroll deposits, and bank-to-app transfers. Concerning user verification, World Chat employs color-coded indicators to show if a user has a verified World ID, though chats with unverified users are still possible.
Verification and Biometric Data
World employs an iris-scan process using Orb devices to verify users' identities, converting iris data into encrypted World IDs. Biometric verification is not necessary to access new payment capabilities. As of now, World has scanned fewer than 20 million individuals, aiming for broader adoption.
The introduction of Orb Minis allows users to complete iris scans at home, and plans are in motion to integrate ID sensors into additional devices and point-of-sale hardware.
Concerns and Company Goals
While World claims its chat encryption matches leading consumer messengers and ensures privacy with encrypted identifiers, the merging of biometrics, messaging, and financial systems prompts questions about data governance and compliance. Tools for Humanity, established in 2019 as Worldcoin, initiated this app in 2023.
World's latest developments reflect its ambition to extend global reach and functionalities while ensuring user privacy and security.
