Sam Altman and Worldcoin

Steph Smith
Sam AltmanPhoto bysteph/incryptoworld

Sam Altman, the CEO of OpenAI, has successfully secured significant funding of $115 million in a Series C funding round for his co-founded cryptocurrency venture called Worldcoin. The funding round, led by Blockchain Capital, aims to support the development and growth of the project.

Worldcoin sets out to distribute a unique crypto token to individuals based solely on their distinctiveness. The project utilizes a cutting-edge device that scans the irises of individuals to verify their identity. Once confirmed, these individuals are granted the tokens at no cost.

Despite its innovative approach, Worldcoin has faced criticism due to concerns regarding privacy implications. In response to Altman’s initial announcement tweet about the project in 2021, Edward Snowden, a former U.S. intelligence contractor, expressed his reservations, cautioning against the potential risks of cataloging personal biometric data such as irises.

It is important to note that the availability of the Worldcoin token will be limited and restricted in certain countries, including the United States, as stated on the project’s official website.

Following a tumultuous year in 2022 that witnessed the collapse of numerous cryptocurrency ventures, such as the notable downfall of FTX led by Sam Bankman-Fried, the digital asset space is now striving to regain popularity and restore investor confidence.

Notable investors, including a16z crypto, Bain Capital Crypto, and Distributed Global, have participated in Worldcoin’s recent fundraising efforts, demonstrating their belief in the project’s potential.

Both Sam Altman and OpenAI, the startup responsible for the development of ChatGPT, have garnered significant attention and interest in the field of artificial intelligence in recent times. Altman’s recent appearance before a U.S. Senate panel reflects the growing demand for regulation and oversight in the rapidly advancing field of AI.

This is original content from NewsBreak’s Creator Program. Join today to publish and share your own content.

Comments / 0

Published by

I am finance graduate and a blogger who is passionate about cryptocurrencies. With my deep knowledge of the crypto world, I have been writing about the latest news and developments on my website.

New Jersey State

More from Steph Smith

Comments / 0