Worldcoin: A Hypothetical Cryptocurrency for the People and its Government

TL;DR

This paper proposes a hypothetical cryptocurrency model aimed at enhancing transparency, regulation, and equal participation for citizens worldwide, addressing current issues of scams and lack of government oversight.

Contribution

It introduces a new regulated cryptocurrency framework designed to promote transparency and government collaboration, which is a novel approach in the current unregulated crypto landscape.

Findings

A model for a regulated, transparent cryptocurrency system

Potential for tailored sector-specific implementations

Enhanced trust and citizen participation in global finance

Abstract

The world of cryptocurrency is not transparent enough though it was established for innate transparent tracking of capital flows. The most contributing factor is the violation of securities laws and scam in Initial Coin Offering (ICO) which is used to raise capital through crowdfunding. There is a lack of proper regularization and appreciation from governments around the world which is a serious problem for the integrity of cryptocurrency market. We present a hypothetical case study of a new cryptocurrency to establish the transparency and equal right for every citizen to be part of a global system through the collaboration between people and government. The possible outcome is a model of a regulated and trusted cryptocurrency infrastructure that can be further tailored to different sectors with a different scheme.