A company called Worldcoin, co-founded by OpenAI CEO Sam Altman, has raised $115 million for its crypto coin project. Worldcoin aims to establish an individual’s unique personhood by scanning users’ eyeballs. The project includes the development of an identity system called “World ID” that uses iris biometrics to create a digital ID. Worldcoin offers a mobile app called World app for managing digital wallets and accessing various currencies. The company plans to tour several cities to showcase its Orb hardware. Despite privacy and security concerns, investors believe that Worldcoin’s World ID has the potential to revolutionize online identity verification by providing a privacy-preserving solution.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Worldcoin raises $115 million | Financial and identity | Widespread use of Worldcoin and World ID | Increasing demand for secure digital identity |
| Worldcoin’s “World ID” system | Privacy and security | More applications distinguishing between bots and humans | Need to combat online bots and fraud |
| Worldcoin offers World app | Financial and digital | More accessibility to digital currencies | Growing popularity of cryptocurrencies |
| Orb hardware availability | Geographic availability | Orbs available in more countries | Expansion of Worldcoin’s presence |
| Funding accelerates R&D growth | Business development | Development of World App and ecosystem | Support for Worldcoin’s expansion |
| Defending Worldcoin project | Perception and opinion | Recognition of World ID’s potential | Understanding the project’s benefits |