Worldcoin is a cryptocurrency project that aims to provide a digital identification platform and a convenient way for individuals to verify their identity.
Worldcoin’s unique feature is its use of eyeball scanning technology for identity verification; users will be able to verify their identity by scanning their irises using the Worldcoin app.
This technology aims to provide a secure and convenient way to authenticate individuals.
Worldcoin also functions as a cryptocurrency, and once users have verified their identity, they can use Worldcoin for transactions and payments.
The cryptocurrency operates on a protocol built on top of Ethereum as a Layer 2.
Additionally, Worldcoin has an ambitious goal of distributing its cryptocurrency to every person on Earth.
The project aims to onboard more users than all other cryptocurrencies combined within a year of its launch.
By leveraging the network effect and distributing the currency widely, Worldcoin hopes to create a global, fairly distributed electronic currency.
Worldcoin believes that widespread adoption of cryptocurrency technology can open social and economic doors for billions of people.
The project sees itself as a prototype of Universal Basic Income (UBI) and aims to provide free cryptocurrency to individuals as a step towards this vision.
While Worldcoin has generated excitement and interest, it has also received mixed reviews.
The project’s use of eyeball scanning technology and its goal of distributing cryptocurrency to every person on Earth make it a unique and ambitious endeavor in the cryptocurrency space.
Worldcoin founders
The founders of Worldcoin are Sam Altman, Max Novendstern, and Alex Blania.
Altman is the CEO of OpenAI and played a key role in launching Worldcoin.
Novendstern was also involved in the early stages of the project but has since moved on to launch another startup.
Blania, who studied theoretical physics at the California Institute of Technology and the Max Planck Society, is currently the CEO of Worldcoin.
It is worth noting that Worldcoin is a cryptocurrency project developed by Tools for Humanity, a San Francisco and Berlin-based organization.
The project was founded in 2019 and is backed by venture capital firm Andreessen Horowitz.
Investors behind Worldcoin
According to Coin Desk, investors behind Worldcoin include;
Blockchain Capital
Blockchain Capital led the Series C funding round for Worldcoin, contributing a significant amount of funding.
They are a venture capital firm focused on blockchain and cryptocurrency investments.
a16z
Also known as Andreessen Horowitz, a16z participated in the Series C funding round for Worldcoin.
They are a prominent venture capital firm known for their investments in technology companies.
Bain Capital Crypto
Bain Capital Crypto, a division of Bain Capital, invested in Worldcoin during the Series C funding round.
Bain Capital is a global investment firm with a focus on private equity, venture capital and credit products.
Distributed Global
Distributed Global, a blockchain-focused investment firm, also participated in the Series C funding round for Worldcoin.
They specialize in investing in blockchain and cryptocurrency projects.
These investors have shown confidence in the potential of Worldcoin and have provided significant funding to support its development.
The funding will be used to accelerate research and development efforts and drive growth in the Worldcoin project and its ecosystem.
It is worth noting that Worldcoin does not have any institutional or angel investors.
The project has primarily relied on venture capital firms and investment firms specializing in blockchain and cryptocurrency.
