Worldcoin is a cryptocurrency project co-founded by Sam Altman, aiming to distribute tokens to individuals based on their uniqueness. Through the use of iris scanning technology, individuals can acquire Worldcoin tokens, contributing to the project’s mission of global inclusion. Despite concerns over privacy risks, Worldcoin has garnered significant investor support, highlighting its potential impact on driving a more unified and equitable global economy. Let’s talk more about Worldcoin crypto.
What is Worldcoin crypto?
Worldcoin, a cryptocurrency project co-founded by Sam Altman, the Chief Executive of OpenAI, has recently raised $115 million in a Series C funding round led by Blockchain Capital. The project’s ambitious goal is to distribute a crypto token to individuals simply for being unique. While Worldcoin has attracted attention and support, it has also faced criticism due to concerns about privacy risks. In this article, we will explore what Worldcoin is, its mission, and how interested individuals can potentially acquire Worldcoin tokens.
What is Worldcoin used for?
The primary mission of Worldcoin revolves around three key aspects: creating a global identification system, developing a global currency, and building an application that facilitates payments, purchases, and transfers using their token, alongside other cryptocurrencies and traditional assets.
To achieve its objectives, Worldcoin utilizes a unique approach involving the use of a device called “The Orb.” The Orb, a five-pound chromatic sphere, scans individuals’ irises to confirm their identity. In exchange for participating in this process, individuals receive Worldcoin tokens. While concerns have been raised regarding the privacy implications of this biometric scanning, Worldcoin assures users that the process is designed with privacy in mind. The Orb captures an iris image, generates a unique encoding called an “iris code,” and promptly destroys the original biometric data, ensuring that only the encoded information leaves the device.
Funding and Investor Support
Worldcoin’s Series C funding round, which raised $115 million, was led by Blockchain Capital. Notable investors participating in the funding round include a16z crypto, Bain Capital Crypto, and Distributed Global. Despite the challenging market conditions for cryptocurrencies in recent times, Worldcoin has managed to attract significant investment, reflecting the project’s potential and investor confidence.
Expanding Access and Onboarding Users
Worldcoin is committed to fostering global inclusivity and aims to create a more unified and equitable global economy driven by the internet economy. The project believes that cryptocurrencies have yet to fully address this objective. Currently, Worldcoin is in beta testing and has already onboarded approximately two million users across five continents, indicating a growing interest and adoption of the platform.
How to Buy Worldcoin Tokens
Acquiring Worldcoin tokens requires participation in the identification process facilitated by The Orb. However, it’s important to note that Worldcoin tokens will not be available to individuals in the United States and some other countries, as stated on the Worldcoin website. To stay updated on the availability and accessibility of Worldcoin tokens, interested individuals should refer to official Worldcoin resources and announcements.