Worldcoin Project By Sam Altman Raises $115 Million

Sam Altman’s Tools for Humanity raised $115 million for Worldcoin, its identification and financial network, by giving away free crypto tokens to those who scan their irises.

Blockchain Capital, a16z Crypto, Bain Capital Crypto, and Distributed Global led Series C.

Worldcoin seeks “universal access to the global economy regardless of country or background”. It has 1.7 million signups.

It created the Worldcoin token to give away “just for being a unique individual” to do this. A World App lets users pay and transfer with the token and other digital assets and currencies.

“The Orb” scans eyes to establish uniqueness and receive the token.

In 2021, OpenAI CEO Altman announced the initiative, sparking privacy worries from Edward Snowden.

Blockchain Capital’s Spencer Bogart said that his business initially shared the concerns:

“It seemed Orwellian in nature and, at first glance, appears to be a noxious combination of hardware, biometrics, and crypto — a grab bag not for the faint of heart.”

Bogart claims that “World ID is a privacy-preserving identity protocol that does not collect or store anyone’s biometric information” after examining the project.

Tools for Humanity CEO Alex Blania says:

“As we embark on the age of AI, it is imperative that individuals are able to maintain personal privacy while proving their humanness. In doing so we can help ensure that everyone can realize the financial benefits that AI is poised to deliver.”