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It’s been a big week for Worldcoin, the blockchain brainchild of OpenAI CEO Sam Altman. The blockchain biometrics project is closing a $100 million funding deal. Investors in this round include new supporters apart from the previous ones.
Worldcoin’s $100 million seed round
Previous seed round investors in WorldCoin include a16z (Andreessen Horowitz), Coinbase’s venture capital division, Khosla Ventures and even Sam Bankman-Fried.
(The disgraced FTX founder is currently defending himself against multiple US criminal charges and enforcement actions.)
Luck reports,
“Funding news is a bright spot in a bleak year for crypto investing. Venture funding for Web3 startups to drop from $9.1 billion in the first quarter of 2022 to $1.7 billion in 2023, up 82% year-over-year, according to Crunchbase. There is a decrease from year to year.
ChatGPT’s founder’s massive fundraiser shows that there is still a huge demand for VCs to invest in the crypto space. Despite a year-long crypto winter that could end in January, a string of failed crypto companies in recent months, and an epic regulatory battle with US regulators.
Biometric Keys: Freedom or Surveillance?
WorldCoin has a bold ambition to bring biometric identification to Web 3.0.
OpenAI Founder’s Cryptocurrency Project seeks to aggregate and develop ID authentication support for Retina Scan. VCs’ enthusiastic support of the project means they may be able to pull off such a bold plan.
But is Worldcoin more suited to extolling the benefits of blockchain freedom or high-tech, Orwellian surveillance capitalism? For decades now, civil libertarians have regarded the digitization of medical records as fraught with legal and humanitarian dangers.
Using biometric data as a security and authentication standard can lead to a violation of people’s privacy. WorldCoin aims to create a world that eventually demands that people give up their biomarkers in order to use apps and do business.
However, this is not an inevitable result of Worldcoin. Moving biometric data to the blockchain and using Web3 technologies to manage private, personally identifiable information for Internet users may be the most secure, fair, free way to do it. Web 3 can use zk-proof and multi-party computation to keep that data private, while servers verify requests that users are who they say they are.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
It’s been a big week for Worldcoin, the blockchain brainchild of OpenAI CEO Sam Altman. The blockchain biometrics project is closing a $100 million funding deal. Investors in this round include new supporters apart from the previous ones.
Worldcoin’s $100 million seed round
Previous seed round investors in WorldCoin include a16z (Andreessen Horowitz), Coinbase’s venture capital division, Khosla Ventures and even Sam Bankman-Fried.
(The disgraced FTX founder is currently defending himself against multiple US criminal charges and enforcement actions.)
Luck reports,
“Funding news is a bright spot in a bleak year for crypto investing. Venture funding for Web3 startups to drop from $9.1 billion in the first quarter of 2022 to $1.7 billion in 2023, up 82% year-over-year, according to Crunchbase. There is a decrease from year to year.
ChatGPT’s founder’s massive fundraiser shows that there is still a huge demand for VCs to invest in the crypto space. Despite a year-long crypto winter that could end in January, a string of failed crypto companies in recent months, and an epic regulatory battle with US regulators.
Biometric Keys: Freedom or Surveillance?
WorldCoin has a bold ambition to bring biometric identification to Web 3.0.
OpenAI Founder’s Cryptocurrency Project seeks to aggregate and develop ID authentication support for Retina Scan. VCs’ enthusiastic support of the project means they may be able to pull off such a bold plan.
But is Worldcoin more suited to extolling the benefits of blockchain freedom or high-tech, Orwellian surveillance capitalism? For decades now, civil libertarians have regarded the digitization of medical records as fraught with legal and humanitarian dangers.
Using biometric data as a security and authentication standard can lead to a violation of people’s privacy. WorldCoin aims to create a world that eventually demands that people give up their biomarkers in order to use apps and do business.
However, this is not an inevitable result of Worldcoin. Moving biometric data to the blockchain and using Web3 technologies to manage private, personally identifiable information for Internet users may be the most secure, fair, free way to do it. Web 3 can use zk-proof and multi-party computation to keep that data private, while servers verify requests that users are who they say they are.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
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