Worldcoin, a crypto project co-founded by OpenAI CEO Sam Altman, has raised $115 million in a Series C funding round led by Blockchain Capital. The round also included participation from Andreessen Horowitz, Initialized Capital, and Slow Ventures.
Worldcoin is a project that aims to create a global ID and currency that is accessible to everyone. The project uses a device called the Orb to scan people’s irises in order to verify their identity. The Orb is a portable device that is easy to use and can be operated by anyone.
The funding round is a significant endorsement for Worldcoin and its mission to create a more inclusive global financial system. The project is still in its early stages, but it has the potential to revolutionize the way that people interact with money.
In a statement, Altman said that the funding will be used to expand Worldcoin’s operations and accelerate the development of its global ID and currency. He also said that the project is committed to making its services accessible to everyone, regardless of their location or financial status.
“We believe that everyone should have access to a global ID and currency,” Altman said. “This funding will help us make that vision a reality.”
Worldcoin has faced some criticism for its privacy practices. However, the project has said that it will only use the data collected by the Orb to verify people’s identities and that it will not share the data with any third parties.
“We are committed to protecting people’s privacy,” Altman said. “We will only use the data collected by the Orb to verify people’s identities and we will not share the data with any third parties.”
The funding round is a significant milestone for Worldcoin and its mission to create a more inclusive global financial system. The project is still in its early stages, but it has the potential to revolutionize the way that people interact with money.
- Worldcoin was founded in 2021 by Sam Altman, Max Levchin, and Stephen Wolfram.
- The project aims to create a global ID and currency that is accessible to everyone.
- Worldcoin uses a device called the Orb to scan people’s irises in order to verify their identity.
- The Orb is a portable device that is easy to use and can be operated by anyone.
- Worldcoin has faced some criticism for its privacy practices. However, the project has said that it will only use the data collected by the Orb to verify people’s identities and that it will not share the data with any third parties.
- The funding round is a significant endorsement for Worldcoin and its mission to create a more inclusive global financial system.
- The project is still in its early stages, but it has the potential to revolutionize the way that people interact with money.
Here are some additional details about the Orb:
- The Orb is a handheld device that uses a camera to scan people’s irises.
- The Orb is able to scan irises quickly and easily, even in low-light conditions.
- The Orb is designed to be used by anyone, regardless of their technical expertise.
- The Orb is currently being used in a pilot program in Kenya.
Worldcoin has said that it plans to launch the Orb in more countries in the coming months. The project has also said that it plans to release a white paper that will provide more details about its plans for the global ID and currency.
Worldcoin is a ambitious project with the potential to make a significant impact on the global financial system. However, the project is also facing some challenges, including concerns about its privacy practices. It will be interesting to see how Worldcoin addresses these challenges and whether it is able to achieve its ambitious goals.
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