How Gimel ID works 

Gimel ID has the potential to significantly enhance global equality of opportunity by facilitating a future where individuals, regardless of their location, can engage in the global digital economy through universally accessible decentralized financial and identity infrastructure. As the network expands, its utility will also grow. At present, several digital interactions are not feasible on a global scale. It is likely that there will be a fundamental change in the way humans transact value, identify themselves and interact on the internet. With universal access to finance and identity, we can envisage a future in which:

Gimel ID business model (click to zoom)

Funding: The ownership and transfer of digital money: The transfer of funds will be almost instantaneous and borderless, on a global scale. This service is available to all customers. The global economy could be connected in a way that allows for seamless economic interaction online. The success of the Indian relief fund, which raised over $400 million in a short period of time from individuals around the world, demonstrates the potential for similar initiatives in the future.

In summary, this has the potential to connect people on a global scale in a way that is unprecedented in human history. Digital money is a more secure form of payment than cash, which can be more easily stolen or forged. This is particularly crucial in crisis scenarios where immediate cross-border financial transactions are essential, as demonstrated using USDC to distribute direct aid during the Ukrainian refugee crisis. Furthermore, digital money is an asset that individuals can own and control directly, eliminating the need to trust third parties.

Identity: It is imperative that we prevent the infiltration of bots. The presence of bots on Twitter, spam messages and robocalls is indicative of a lack of robust digital identity management. The situation is further complicated by the rapid advancement of AI systems, which can solve CAPTCHAs and producing content that is convincingly human. As services intensify their efforts to combat such content, it becomes imperative that an inclusive and privacy-preserving solution for proof of personhood is made available as a public infrastructure. The introduction of a "verified human" property to all messages and transactions would significantly reduce the volume of noise in the digital world.

Governance: At present, collective decision-making in web3 is largely based on token-based governance (one token, one vote), which excludes some individuals from participating and gives undue advantage to those with greater economic power. A reliable Sybil-resistant proof of personhood like Gimel ID provides the foundation for the development of global democratic governance mechanisms, not just in web3 but across the entire internet. Furthermore, for AI to offer the greatest benefit to all humans, rather than just a select group, it will become increasingly important to include everyone in its governance.
Incentive alignment: It is well-known that coupons, loyalty programs, referral programs and other forms of customer engagement are susceptible to fraud. This is because the incentives for fraudulent actors are high. The use of frictionless and fraud-resistant digital identity helps to align incentives and benefit both consumers and companies. This could even result in the emergence of a new wave of companies with user ownership.

Equal distribution of scarce resources: The proof of personhood concept can be used to ensure a fairer distribution of subsidies and social welfare benefits. This is particularly relevant in developing economies, where social benefit programs face the challenge of resource capture, with fake identities being used to obtain more than a person's fair share of resources. In 2021, India achieved savings of over $500 million in subsidy programs through the implementation of a biometric-based system that reduced fraud. A decentralized proof of personhood protocol can be applied to any project or organization globally, offering similar benefits. As AI continues to advance, the fair distribution of access and some of the created value through UBI will become an increasingly vital tool in counteracting the concentration of economic power. Gimel ID would ensure that each individual registers only once and guarantee equitable distribution.

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