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In a development that underscores the convergence of artificial intelligence and blockchain technology, OpenAI CEO Sam Altman is close to raising $100 million for his ambitious cryptocurrency project, Worldcoin.
RECENTLY: OpenAI CEO plans to launch his #Worldcoin crypto project in the coming weeks and is going to raise $100 million.
— Coingraph | News (@CoingraphNews) May 15, 2023
The Worldcoin project, as reported by various sources, including BeInCrypto, U.today, and Business Standard, is in advanced talks for funding that would value the cryptocurrency initiative at nearly $1 billion. The project aims to create a new, globally distributed cryptocurrency given to everyone on Earth.
Worldcoin is designed to leverage a unique device - a so-called 'orb' that scans a person's iris to generate a unique identifier. This identifier then distributes the cryptocurrency, ensuring one coin per person. The technology, while promising, has raised privacy concerns due to its biometric data collection.
The involvement of Sam Altman, former president of the famed startup accelerator Y Combinator and current CEO of AI research lab OpenAI, lends significant credibility to the project. Altman has been a vocal proponent of universal basic income (UBI), and Worldcoin seems to be a realization of this idea in the digital currency space.
If successful, the $100 million funding round could accelerate the development and deployment of Worldcoin's technology. However, the project will have to overcome significant regulatory and technical hurdles before it can fulfill its goal of creating a truly global cryptocurrency.
