Worldcoin is an open-source protocol that is supported by a global community of developers, individuals, economists and economists that are dedicated to expanding participation in and access to the global economy.
Worldcoin operates under the mantra that ‘the global economy belongs to everyone’. Therefore, the firm is building the world’s largest identity and financial network as a public utility that gives ownership to everyone.
The firm aims to create a universal access to the global economy regardless of country or background and therefore, accelerating the transition to an economic future that welcomes and benefits everyone on the planet.
Worldcoin has recently secured $115 million in a series C financing round that was led by Blockchain Capital. The funding round also garnered participation from other investment firms and venture capitals including Andreessen Horowitz, Bain Capital Crypto and Distributed Global. The success in this funding round is a rare site in crypto startups, especially since the market is emerging from the bear market.
Worldcoin was co-founded by OpenAI’s CEO Sam Altman and is currently in beta. The firm is being built around the decentralized world ID and Worldcoin token. Currently, the project has onboarded nearly 2 million users and intends to utilize the new capital to help accelerate research and development. This includes the growth efforts of the Worldcoin project and the World App- the first crypto wallet for the Worldcoin ecosystem.
So, how exactly does the scheme developed by Woldcoin work? To begin with, the world ID is a digital identity that proves you are real and unique person while fully protecting your privacy.
Secondly, the Worldcoin token(WLD) is the first token to be globally and freely distributed to people for both utility and future governance.
Finally, the World App enables payments, purchases and transfers globally using the worldcoin token, digital assets and traditional currencies.
