Sam Altman Reiterates Support for Worldcoin as It Seeks Funding

Sam Altman, the CEO of OpenAI, has reportedly reiterated his support of the cryptocurrency project Worldcoin, saying that in a world increasingly influenced by artificial intelligence (AI), the ability to identify unique humans is becoming more important.

Altman’s comments came after reports emerged that Worldcoin is seeking $50 million in funding, Reuters reported Friday (Dec. 15).

Worldcoin aims to create a global identity and financial network, according to the report. The project has already attracted significant interest, with over 2.6 million people signing up to have their irises scanned by the project’s “orb” devices in exchange for a digital ID and free cryptocurrency.

Altman sees the potential of Worldcoin as a solution to the growing need for human identification in an AI-driven world, per the report.

The company is raising funds by selling its crypto tokens at a discounted rate, according to the report. Altman believes that Worldcoin can address the need for secure and reliable digital identities and financial networks.

Despite facing regulatory scrutiny in the United Kingdom and Germany since its launch in July, Altman remains optimistic about the future of Worldcoin, the report said.

This is not the first time Worldcoin has attracted attention from investors, per the report. The company previously raised $115 million in a Series C funding round led by Blockchain Capital, alongside a16z crypto and Bain Capital Crypto.

The founders of Worldcoin said in September 2021 that they aimed to spread the reach of cryptocurrency, and financial services as whole, to a wide range of users.

In May, the firm launched the World App, a digital wallet designed to expand the availability of digital identity and global finance. Designed for the Worldcoin ecosystem, the app can be used to authenticate with World ID, get Worldcoin tokens and send digital money anywhere.

In July, Worldcoin said that it was launching its biometric orb technology in 35 cities across 20 nations in order to capture participants’ biometrics and provide them with a “proof of personhood.”

In the months since then, Worldcoin has faced an investigation by the United Kingdom’s data regulator, a suspension of operations in Kenya by that country’s government and a “check” at its Paris office by France’s data watchdog.