- Sam Altman, has raised $115 million in Series C funding for crypto project, Worldcoin.
- Zach Pump says the fundraising event marks Altman’s entry into the crypto ecosystem.
- Worldcoin would give people control of their identity and finances.
OpenAI Chief Executive and founder of ChatGPT, Sam Altman, has raised $115 million in Series C funding for a cryptocurrency project, Worldcoin. Zach Pump on Twitter says the fundraising event marks Altman’s entry into the crypto ecosystem.
Zach praised the feat Altman achieved by raising $115 million for a crypto project in the middle of a bear market. He noted that Blockchain Capital led the funding exercise. The firm’s General Partner, Spencer Borgat, explained why his team led Worldcoin’s latest funding program.
Borgat said his team went all out for the project after spending hundreds of hours evaluating what Altman and other contributors to OpenAI had built. According to Borgat, many people misunderstand Worldcoin because of the sensitive aspect of biometrics involved in the project. However, he explained that Worldcoin’s World ID is the most compelling solution the industry has seen in decades.
Zach was impressed with the Worldcoin project and explained that it is a project that focuses on a decentralized world ID. He noted that Worldcoin had already onboarded nearly two million people on its platform, despite being in its beta stage. According to Zach, Worldcoin plans to issue tokens for proof of personhood. They would do so using an Orb, a device that scans the Iris of participants to confirm user identity.
Although the members of the public have expressed concerns over the potential breach of privacy from the biometric process, Zach noted the Worldcoin team already assured users that it would delete collected data from the Orb immediately after processing.
Worldcoin’s Head of Product, Akarsh Sanghi, said the solution would give people control of their identity and finances. According to Sanghi, there needs to be a way to achieve this while protecting privacy, especially in this age of AI, and that is what Worldcoin is all about.