Ramp Collaborates with Worldcoin to Provide Seamless On-Ramp for WLD

Ramp is the pioneering global provider of crypto on-ramps that facilitates direct purchases of Worldcoin (WLD). The fintech firm is pleased to announce that, apart from the United States, it is the first crypto on-ramp provider to enable direct Worldcoin (WLD) purchases for consumers worldwide.

Users can now acquire Worldcoin (WLD) through Ramp, initially via the company’s website or its network of integration partners, and soon directly through the World app.

This notable achievement marks a significant step forward in its ongoing efforts to attract the most impactful and innovative projects to its platform.

Why Worldcoin is Important?

The aim of Worldcoin is to establish an inclusive, global identification and financial network, which aligns with Ramp’s mission. The Worldcoin team seeks to empower individuals, rather than bots, to take control of a new financial system.

Worldcoin’s World ID is designed to be person-bound, meaning it should only be utilized by the individual to whom it was issued. Co-led by Sam Altman, the CEO of OpenAI, this is achieved through a carefully designed mechanism that links tokens to a unique identity derived from the hash of each user’s biometric iris scan.

The use of an iris scan aims to make it more difficult for malicious actors to obtain World ID credentials that do not belong to them and to simplify the recovery process for users who lose or have their World ID stolen.

Proof-of-personhood

The innovative application of specialized biometric technology, particularly an iris-scanning device known as the Orb, has led to the revolutionary proof-of-personhood concept that underlies Worldcoin.

The primary goal is to ensure that every participant in the Worldcoin network is a unique human being. This will prevent the system from being exploited by AI-driven bots or duplicate identities, a concern that Worldcoin’s Sam Altman is acutely aware of and that historian and Sapiens author Yuval Noah Harari has frequently cautioned against.

The company underscores that images collected during the verification process are, by default, immediately deleted from the device (unless explicit consent for Data Custody is provided), safeguarding users’ privacy and data. This approach sets a new standard for digital identification by creating an AI-resistant verification system.

Empowering Humans

The Worldcoin financial system prioritizes humans through the use of this iris scan biometric verification method. It aims to ensure that verified human users, rather than bots or AI-operated entities, populate the digital landscape.

WLD Launch Information

The platform is initially providing an on-ramp for WLD that operates on Optimism (OP), with plans to support WLD on additional networks, including Ethereum. This aligns with its goal of delivering a seamless and user-friendly experience while emphasizing scalability and efficiency.

Its Worldcoin on-ramp service will not be available in the US at launch due to current regulations. The team is continuously monitoring the regulatory landscape for any potential changes.

The platform will exclusively offer on-ramp services during this initial phase of integration with Worldcoin. To improve off-ramp services for WLD in the latter half of 2023, the team is diligently working around the clock.

What’s Coming Up?

The Ramp team is eager to be part of this journey and is optimistic about the future of Worldcoin. They believe that through collaboration, they can develop a financial system that is more equitable and just for all. Users can participate in this exciting new chapter as the platform works to bring the best of cryptocurrency and facilitate easier access to a broader digital economy.