• Crypto project Worldcoin has raised $115 million in a Series C round led by Blockchain Capital.
• Funds will be used to support its decentralized World ID and recently released crypto wallet, World App.
• Currently available in beta version, Worldcoin has already onboarded over 2 million users.
Worldcoin Secures $115M for Decentralized ID
Crypto project Worldcoin has raised $115 million in a Series C round led by Blockchain Capital. Venture capital firms A16z Crypto, Bain Capital Crypto, and Distributed Global are also investors in the round. The funds will be used to support the decentralized World ID and recently released crypto wallet, World App.
About The Project
Co-founded by OpenAI’s CEO Sam Altman and built by developers of Tools for Humanity, Worldcoin aims to tackle problems stemming from the growing complexity of artificial intelligence, such as proof of personhood, in the digital age. Currently available in beta version, it has already onboarded over 2 million users according to the company. It is preparing to launch a blockchain protocol and begin recording transactions in the next few weeks.
World App Features
In early May, the project launched the World App, a gas-free crypto wallet for verified humans that works on Android and iOS operating systems. It currently runs on the Polygon network enabling users to hold and transfer USD Coin (USDC), Dai (DAI), Ether (ETH), Worldcoin (WLD) and wrapped Bitcoin (WBTC). By using zero-knowledge proofs it verifies that user is human without revealing underlying data.
It has partnered with regulated crypto exchanges MoonPay and Ramp to offer on-and off-ramps within wallet. Coins can be swapped through built-in Uniswap integration while users can send/receive crypto via contacts’ phone numbers through app as well.
Objective Of Project
The objective of this project is to provide accessible tools that provide opportunities for everyone across the world to fully participate in digital global economy while preserving privacy at same time with help of decentralized solutions like proof of personhood etc .
Conclusion
Worldcoin provides secure access for people all around world who want full control over their identity & finances with help of AI & decentralized solutions . With more resources being poured into project ,it will go long way towards helping people across world take advantage of digital economy without compromising privacy .