Worldcoin is a new, collectively owned global currency startup that wants to put a crypto wallet (and some of their currency) onto every human’s smartphone.
Worldcoin is aiming to make their proof-of-personhood network in the least dystopian way possible.
Worldcoin was founded in 2019 by Sam Altman and Alex Blania. The company is headquartered in San Francisco, California.
Worldcoin promises to distribute a universal basic income (UBI) to global citizens willing to have their retina scanned, came in for a fresh round of incredulous backlash from privacy advocates after announcing new funding last week.
Worldcoin’s Orbs necessarily must network their data in order to prevent multiple signups of the same person between Orbs. To resolve this, Orbs do not store an image of a person’s eyes, just a numeric representation of their unique irises.
Worldcoin plans to produce more than 50,000 devices per year. More than 130,000 people had already gazed into Orbs by November 2021.
Worldcoin is backed by Andreessen Horowitz, Coinbase, Khosla Ventures, Reid Hoffman, Day One Ventures, Multicoin, FTX’s Sam Bankman-Fried, and others. The company raised $100M in new financing on Mar 23, 2022. This brings Worldcoin's total funding to $125M to date. The latest round tripled the company's valuation to $3B, up from their previous $1B achieved in last financing raised in Oct 2021.