Worldcoin, a decentralized open-source protocol, has been co-founded by the CEO of OpenAI, marking a significant development in the cryptocurrency industry.
Currently in its beta phase, Worldcoin revolves around the Worldcoin token and the decentralized World ID, aiming to create a robust ecosystem.
Impressively, the Worldcoin project has already garnered the attention of nearly two million individuals, indicating a growing interest in the cryptocurrency space.
The recent funding round has successfully raised capital for the company, which will be utilized to bolster research, growth, and development efforts for the Worldcoin project and the innovative World App.
Notably, the World App stands as the inaugural cryptocurrency wallet designed explicitly for the Worldcoin ecosystem.
As part of its unique approach, the Worldcoin project intends to distribute crypto tokens to individuals purely based on their distinctiveness as human beings.
To authenticate the identity of users, the project employs a device that scans their irises, ensuring a secure and reliable verification process before the distribution of tokens.
Tools for Humanity serves as the driving force behind the Worldcoin project, striving to make significant advancements in the field.
Given the ongoing crypto bear market, where venture capitalists have displayed reduced investments in the industry, the unexpected $115 million raised in this funding round is a testament to the potential and promise of Worldcoin.
Alex Blania, the CEO and co-founder of Tools for Humanity, expressed the importance of preserving personal privacy while proving one’s humanness, especially as society enters the age of AI. Blania emphasized the potential financial benefits that AI can bring and the necessity to ensure equal access for everyone.