June 7, 2023

Worldcoin Developer Raises $115M in New Funding Round

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Worldcoin Developer Raises $115M in New Funding Round

The developer of the Worldcoin crypto project - Tools for Humanity - was able to raise $115 million during a new round of funding led by Blockchain Capital.

A16z, Bain Capital Crypto, and Distributed Global also participated in the round.

“As we enter the age of AI, it is imperative thatso that people can keep their privacy. In doing so, we can ensure that everyone can reap the financial benefits that AI provides,” said Alex Blania, CEO and co-founder of Tools for Humanity.

Sam Altman, who is alsoCEO of OpenAI, is preparing to launch Worldcoin in the next few weeks. He plans to use eyeball scanning technology to create a global identity system that can be used to gain free access to his own Worldcoin cryptocurrency.

Worldcoin has already been criticized for a number of reasons.issues, primarily because biometric scanning poses privacy risks. The project's website claims that the company will not store iris scans and that the device will not harm users' eyes.

Meanwhile, users from China whoaccess to registration in the Worldcoin crypto project is prohibited, they resort to buying biometric data from third parties from African countries with the hope of receiving bonuses after the launch of the project.