10,000 WLD has recently been around the 0.025 BTC level, but the liquidity is low and most trades have actually happened at 0.01 BTC.

Clearly, this isn't a very high valuation at the moment, but we might expect that things change in the future once we bring the World Dollar concept to the public's attention. If we can get 7bn people to claim their 10,000 WLD, it could be very interesting to see what happens.

You can use Ripple Trade (http://www.rippletrade.com) to trade WLD against BTC and XRP, but there will soon be more options to come.

10,000 World Dollars (WLD) are being given away for free to everyone in the entire world. Everyone is uniquely identified via facial verification (short) video. For more information about World Dollar, visit http://www.world-dollar.com

You can claim your World dollars now with Coin Autonomy (http://www.coinautonomy.com) on Ripple (http://www.ripple.com).

There is a 2 step process:

1. You need to provide a short video along with the name of your Ripple account.
2. After your account has been activated for free, you need to connect WorldDollar as a gateway on Ripple. Then, your 10,000 World dollars (WLD) will be sent over to you.

Visit http://www.coinautonomy.com for more information.

10,000 World dollars (WLD) are being given out to everyone in the world, equally. http://www.world-dollar.com

Fair distribution indeed.

Everyone is uniquely identified via facial verification (short video). Coin Autonomy (www.coinautonomy.com) is the first issuer of World dollars.

10,000 WLD is currently being traded on Ripple trade (http://www.rippletrade.com) for around 0.025 BTC, so around 10 USD.

It's traded on Ripple trade: http://www.rippletrade.com/#/login

Coin Autonomy (http://www.coinautonomy.com) will activate your Ripple wallet for free so that you can connect WorldDollar (rwPy6FD7LoTgEcy9Sd9bm3HE7uU5LDCf2H) as a gateway, then they'll send you your 10,000 WLD.

http://twitter.com/WorldDollar/status/514122881144745984

10,000 #WLD is now trading for around 0.025 #BTC = 10 USD. So with 1 short video, everyone in the world can poss. claim ~10 USD. RT.

http://www.world-dollar.com/what-is-world-dollar/

1. What is World Dollar?
World Dollar is the future of money. It is based on the idea that, since money is nothing but a social convention, the ultimate basis for money is for it to be issued to everyone, equally. We call this the Equal Opportunity Standard. In order to uniquely identify people, facial verification is used. You can claim your World dollars now.

2. How is Money a Social Convention?
Money is a social convention in the sense that it is not valuable in itself, but valuable because people agree to take it as valuable. It is a medium of exchange, a tool that allows us to trade with one another without having to resort to barter, which inefficiently depends on the double coincidence of wants.

3. Why is Equal Opportunity the ultimate basis for issuing money?
Equal opportunity when it comes to issuing money is guaranteed acceptance by virtually all of mankind.

This is because it appeals to the highest standards of morality. "We hold these truths to be self-evident, that all men are created equal".

It also appeals to the highest standards of economic reason. It rejects the idea that producers of money, i.e. producers of something that is not actually valuable in itself, should appropriate scarce resources from the other, productive members of society, i.e. producers of goods and services that are actually valuable.

Therefore, money that is issued on the basis of equal opportunity is virtually guaranteed to be taken as highly valuable.

5. Who is behind World Dollar?
World Dollar is not about any single person or group of people. Should World Dollar succeed, the credit will go exactly where it is due: to all of mankind.  If we can all rally behind the concept of money that treats all human beings equally, we will all achieve one of our greatest ever feats.

Those who decide to offer their efforts to the World Dollar Foundation take it upon themselves to do everything they can to raise public awareness about World Dollar. However, in order for World Dollar to succeed, it will have to be the case that the efforts from the Foundation will only be a tiny fraction of the overall efforts to spread the word.

Meanwhile, the World Dollar Network is responsible for actually running the monetary system, facilitating the issue and exchange of World dollars. It is made up of private organisations, who compete against one another in order to maximise the quality and minimise the cost of services provided, and yet at the same time make sure that their services integrate seamlessly with one another.

Out of interest, is there anyone on bitcointalk who has any positive thoughts about World Dollar?

In particular, we need more people to join the World Dollar Foundation (http://www.world-dollar.com/the-foundation/), or to contribute their services to the World Dollar Network (http://www.world-dollar.com/the-network/)

Please note that my earlier comments on bitcoin were not meant as a criticism of it. Bitcoin has been an important breakthrough, and as free market money (as opposed to fiat money) it does have voluntary acceptance by the market, and can indeed continue to be valuable, even if World Dollar ends up having a greater global impact.

Cheers,

Mark (Member of World Dollar Foundation)

The cost of distribution is generally low, but it must be understood that we do not forbid private issuers from charging people for using their services. This is free, voluntary exchange. Yes, it diverges away from absolute equal issuance, but if people are happy to accept this in order to receive their World dollars, there is no problem. If people don't want to pay, they might want to wait, as it is expected that the cost of distribution will fall and quality of distribution will rise in the long run (in line with the competitive nature of the World Dollar network). Alternatively, issuers may operate on a non-profit (or even, charitable) basis.

However, it is expected that that a large proportion of issuers will actually also be responsible for the payments platforms that people use, and so they can subsidise the cost of issuing with the idea that they can instead profit from e.g. charging commissions on transactions. Indeed, we are close to finalising a deal with a mobile payments company that wishes to operate on this basis.

There is nothing "utopian" about this, and it is impossible to argue that there could possibly be a "fairer" standard for money, a social convention, than "equal" distribution. Not understanding this is the single biggest factor that has let down bitcoin, badly. And this is precisely why it should not come as any surprise to you that World Dollar will go way, way beyond what Bitcoin has managed to achieve (if it has not done so already - the market appears to be pricing World Dollar at 6x the market cap of Bitcoin).

It is perfectly feasible. Identity verification already plays a prominent role in the use of nearly all financial services today. There does not need to be 100% accuracy, 99.9% is fine, so long as there is a system that enforces that the issuer guilty of having issued World dollars in the case of fake/ duplicate claiming is liable for damages. It is effectively an insurance system. All issuers have to sign a contract to this extent with the World Dollar Foundation. We're going to provide more details to the public about how this works in due course, but for now this overview (and details on Coin Autonomy's website) should be sufficient.

There is no distribution via email address. Coin Autonomy, our first issuer, typically requires a private ID (Miicard, Passport, Driving License, ID card), with Miicard being in conjunction with a public ID (Facebook, Linkedin, etc.).

There is nothing exceptional, technically speaking, for how ID verification works for now. Perhaps the most reliable, advanced way would be biometrics (unique biological identifiers such as fingerprints, DNA etc.), but this would no doubt touch a nerve to those angry or even outraged by this invasion of privacy. However, it is clear that if there are clear convenience benefits to be had from biometric technology, then people will start using them. A case in point is the iPhone 5S’ fingerprint scanner feature (called ‘Touch ID’ by Apple). Despite being released after information about the NSA’s various surveillance programs were first disclosed, most industry insiders and reviewers were cautious but welcomed the introduction of Touch ID, as it should encourage more people to securely lock their iPhones and increase acceptance of biometric verification technologies. In fact, the security of Touch ID was a bigger concern than privacy issues as it was proven to be possible to bypass its security features and gain unauthorised access to the phone. If technologies such as this becomes more widespread and secure in the future, then this could be another way of verifying ID.

It is not at all an attempt at socialism. I think many of you need to look up the word "socialism" to see what it actually means. It is an economic system  characterised by social ownership of the means of production. Nothing about World Dollar suggests there should be social ownership, rather than private ownership, of the means of production. Also, you should take a look at what the World Dollar website has to say on this topic (http://www.world-dollar.com/what-is-world-dollar/):

What is the problem with using Equal Outcomes as the basis for issuing money?

Money balance inequalities derived by means of free exchange can be justified. One profits from offering valuable goods and services, derived by productive efforts, to one's fellow human beings. Money subject to an equal outcomes standard would result in those with relatively lower money balances benefiting at the expense of those with relatively higher money balances. 

Money subject to an equal outcomes standard would, therefore, be widely rejected, principally because it does not truly treat people equally, as per the equal opportunity standard.

---

Regarding "airdropping" money (same source):

What is the Problem With Profiting From Money Production?

First, it should be understood that the market economy works under any nominal quantity of money and associated price level. It is a myth that a growing economy needs a growing supply of money. Any changes in the demand for money can be met by changes in its price (i.e. purchasing power), meaning any additional supply of money is in itself totally unnecessary.

The problem with profiting from money production, then, is that the money producer necessarily benefits at the expense of the rest of society. The production of money is not really a valuable service in itself, making it somewhat perverse that it should be so lucrative. This is contradictory to what is usually the case in the market economy, wherein one profits from offering valuable goods and services.

This is not to say that it is impossible for money with profiting money producers to be valuable, particularly if the fair "process" of the free market is involved, meaning no-one is artificially blocked from producing the money. It is just to say that it may struggle to compete with the level of social acceptance that comes with absolute equal treatment, meaning no-one is left feeling with a sense of injustice (from "losing out" to the money producer).

---

Regarding it being "impossible" to distribute equally, the fact that many people do not have access to the internet now does not mean that they will not have access to the internet in future. In addition, it could technically be issued in "paper" form in the meantime; if someone applies to the network (http://www.world-dollar.com/the-network/) with a good idea and operational plan for this, they will be approved.

As said in previous post, there is no intention for there to be equal outcomes . This is not a socialist project. Socialism does not actually treat all people equally. It is a very widespread belief that inequalities in money balances are justifiable; it is free, voluntary exchange of goods and services that we value, derived by productive efforts.

This is why we only issue 10,000 World dollars to everyone once, rather than more than once. An equal outcomes standard is a very poor basis for a monetary system, and so we took care to avoid it. Money is, after all, a tool of capitalism, being a tool of trade in a system with private property rights. In a totally pure socialist/ communist system, there would actually be no need for money at all.

Regarding the other point you raised, what makes you think it is impossible to distribute to everyone equally? You think it is impossible to identify people?

Kelsey, go ahead and try to game the system. Good luck. In virtually all cases of issued World dollars, Coin Autonomy (the first issuer) has also required a private ID, whether provided by Miicard or by a photocopy of another proof of ID (passport/ driving license/ ID card).

In addition, there is an insurance system in place, read this from http://www.coinautonomy.com :

What ensures that Coin Autonomy issues World dollars responsibly?
We are contractually bound by the agreement we signed with the World Dollar Foundation; we are fined 10,000 World dollars per every fake or duplicate claiming of World dollars discovered. This fine is payable to the World Dollar Foundation, who then proceed to destroy the 10,000 World dollars. If too many fake claims are discovered, we cannot continue to issue World dollars.

The objective is not to bring "total equality" to the world, what made you think that? The objective is to provide a currency that is virtually guaranteed global acceptance, due to the equal distribution, rather than equal outcomes. The political ideology behind this is libertarian, rather than socialist. We believe in a currency that is not subject to manipulation by central authorities, arbitrarily benefitting its producers (and typically, first recipients) at the expense of all others. Also, money needs to be a good serving as a medium of exchange, rather than being based on debt. To understand why a debt-based monetary system is fundamentally flawed, read this section: http://www.world-dollar.com/debt-based-monetary-system-debunked/

Hi,

Just posting to ask what your thoughts are on the idea behind World Dollar (http://www.world-dollar.com/what-is-world-dollar/), i.e. to give money to all people equally? Will it secure massive, global acceptance by people, business, etc. in your view?

In your view, is this a fad, or the greatest threat to the status quo (debt-based fiat currencies) there has ever been? 10,000 WLD is now trading for 5.04 USD (or 0.01 BTC) on Ripple trade, which implies a total market cap of $35 billion, and the media is about to pick up on this.

Please let us know your thoughts. It would be great to hear from the bitcointalk community, and hopefully many of you are already claiming your World dollars and looking to trade.

Cheers,

Mark (World Dollar Foundation)

Hi, we launched World Dollar (http://www.world-dollar.com) a few weeks ago, and there have been lots of people claiming their 10,000 WLD. In fact, everyone in the world is entitled to an equal amount of World dollars, and given that 10,000 WLD is trading for just over 5 USD at the moment, the market cap is just over $35 billion.

If you like, you can tweet @WorldDollar asking for donations, and we can retweet this to our followers and hopefully some will be happy to give to your cause.

You will be able to redeem and therefore spend your World dollars outside of the Ripple network. World Dollar therefore does not exist only as an IOU. If you understand how XNF works on Ripple, you also understand how World Dollar works on Ripple. There is no problem in using it as a payments platform. Soon you will also be able to receive, trade and spend your World dollars with alternative options.

Freedom of information requests apply only to public authorities. We are exempt from the requirement to register with an information protection officer.

If you submit your details (name, email address) you will be advised of the next steps you will need to take with a Network member in order to receive your World dollars. Your details are NOT passed onto them by default. There is also a checkbox that you can tick if you wish to receive marketing emails in future, from which, again, we do not profit from. Any request for your details to no longer be held by us is fulfilled immediately. 

All this being said, not as a matter of legal necessity, but as a matter of establishing and maintaining trust, rest assured that we will make all our contact details publicly available.

If you have any further questions on this issue, please feel free to get in touch with contact@world-dollar.com, or we can address any further queries on this forum if you prefer.

Unfortunately you have once more failed to understand the point being made about fraud/ counterfeiting. There is nothing more to add from our side; for a practical example, you might wish to review how XNF works (http://www.nofiatcoin.com/) on the Ripple network.

Regarding your second point, as explained to you earlier, all identity checks are performed by members of the World Dollar Network.

You misinterpreted the point being made. Indeed, you have nicely explained the problem encountered by anyone trying to issue their own WLD (and trying to "pass it off" as the official WLD). The WLD IOU is not valuable unless it has originated from the official World Dollar Ripple account - trust is granted to the Ripple account "WorldDollar".

We are not asserting that there is any fraud happening with Bitstamp and Snapswap. Hopefully this latest response has clarified that for you.

Money does not have to be "backed" by something in order to be valuable. Money is nothing more than a social convention. It is not valuable in itself, but valuable because people agree to take it as valuable.

Not anyone can create World dollars and markets for trading them - this is attempted fraud/ counterfeiting, and will be very easy to identify/ expose it as such.

Also, as said in an earlier post, we will not only be based on Ripple. If any of you are interested in joining the World Dollar Network and building your own payments platform where World dollars can be issued and traded, there is nothing preventing you from doing so. Indeed, we encourage it; the point of the Network being decentralised and competitive is precisely so that the highest standards of payments technology are used.

Patience is a virtue.

On a general note: there is nothing compelling you to claim your World dollars now. All people in the world will be entitled to their 10,000 WLD allocation.

If you are uncomfortable, for instance, by the fact that we have only extremely recently got up and running, and you don't know the people behind the Foundation (not that we are the important people driving this - the Network is), then come back in a week or so. World dollars will be actively traded through Ripple, and soon elsewhere too.