OpenAI’s Crypto Project Nears 100M Investment Milestone
OpenAI CEO Sam Altman’s crypto startup, Worldcoin, is reportedly in advanced discussions to secure a substantial $100 million investment. Previous investors, including Khosla Ventures and Andreessen Horowitz’s crypto fund, are among those backing the company.
Worldcoin to Implement Revolutionary Protocol for Crypto
Established in 2019 by Alex Blania and Altman, Worldcoin aims to utilize eye-scanning technology to create a universal identity system. It provides unrestricted access to Worldcoin. The company’s tokens were valued at approximately $3 billion after a token sale last year.
Within the next six weeks, Worldcoin plans to implement the Worldcoin protocol for recording transactions. The company is striving to revolutionize the cryptocurrency sector with its innovative iris-scanning technology.
Worldcoin is currently engaged in early discussions to secure new funding as it prepares for its upcoming launch. Notable investors involved include Khosla Ventures, Andreessen Horowitz’s crypto fund, FTX co-founder Sam Bankman-Fried, and internet entrepreneur Reid Hoffman.
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While OpenAI has made headlines with its ChatGPT development and Microsoft partnership, Worldcoin has been relatively quiet. However, the startup’s vision remains ambitious. It intends to establish a global ID system through eye-scanning technology, granting access to Worldcoin.
The past year has been challenging for the crypto industry, with plummeting token values and numerous crypto firm closures. Despite this, Worldcoin’s fundraising efforts are deemed remarkable given the market conditions.
Worldcoin’s Orb: Revolutionizing Identity Verification with Iris Biometrics
Worldcoin executives highlight their solutions to address issues arising from AI advancements. It includes distinguishing humans from bots and providing a universal basic income to mitigate potential job losses caused by AI.
Central to Worldcoin’s aspirations is an orb that utilizes iris biometrics to establish a unique individual identity. It generates a virtual World ID that can be pseudonymously employed across various applications while protecting user identities. Privacy concerns surrounding biometric scanning and potential eye damage are acknowledged on the company’s website, emphasizing the measures taken to address these issues.
Worldcoin’s progress in securing substantial investment and its innovative approach to identity verification position it as a significant player in the cryptocurrency world, poised to make a transformative impact.
Worldcoin aims to revolutionize the crypto sector through its eye-scanning technology and universal identity system. Despite the challenges faced by the crypto industry, Worldcoin’s fundraising efforts have been remarkable. The company plans to implement the Worldcoin protocol for recording transactions in the near future. With its ambitious vision and innovative approach, Worldcoin has the potential to make a transformative impact in the cryptocurrency landscape.
