OpenAI CEO Sam Altman aims to raise $100 million in funding to create a secure global cryptocurrency called Worldcoin.
As Worldcoin prepares to launch, Sam Altman is in further talks to raise funds, according to people familiar with the matter. According to the Financial Times report, Altman is considering raising $100 million from existing and new investors. The company’s current investors include Khosla Ventures and Andreessen Horowitz, as well as Reid Hoffman.
Worldcoin To Be Launched In The Coming Weeks
Worldcoin was founded in 2019 by Sam Altman and Alex Blania. The company had a low profile, according to OpenAI, which struck a multibillion-dollar deal with Microsoft earlier this year.
However, it still has big ambitions, such as using eye-scan technology to create a global identity system that can be used to provide free access to its own global currency, Worldcoin. According to the report by The Information, the firm raised $100 million from investors in March 2022 through a private token sale.
The company said that users can receive free Worldcoin tokens after identifying their identity with iris biometrics.
Worldcoin has received a lot of criticism, notably because biometric scanning poses privacy risks. However, the statement made by the company claimed that iris scans will not be stored and the device will not harm users’ eyes.
Operating in beta, the company is set to begin rolling out its blockchain protocol and recording transactions in the next six weeks.
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