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Blockchain Capital Bets Big on Eyeball-Scanning Orb

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Worldcoin Raises $115 Million in Series C Funding to Pursue Its Goal of Creating a Global ID, Currency, and Payment App

Worldcoin is an organization founded in 2019 by OpenAI CEO Sam Altman, which aims to serve as proof of personhood in a world where it is increasingly difficult to distinguish humans from bots. Its goal is to create a global ID, global currency, and payment app that enables payment, purchases, and transfers. Recently, the organization raised $115 million in Series C funding led by the venture firm Blockchain Capital. Worldcoin’s total funding has now reached $240 million. In the funding round, co-investors included some of its earlier backers such as Andreessen Horowitz, Bain Capital Crypto, and Distributed Global.

Spencer Bogart, the General Partner of Blockchain Capital, shared his thoughts on why he invested in Worldcoin in an interview. He explained the challenges of Worldcoin’s mission, which relies on scanning tens of millions of people’s irises using futuristic, tech-dense globes. He also talked about why he thinks Worldcoin would be interesting to enterprises and various applications. Moreover, he discussed the issues surrounding public perception and the challenges of orb distribution.

Overall, Worldcoin’s goal to create a global ID, global currency, and payment app is an ambitious undertaking. However, its fundraising achievement suggests that investors see potential in its innovation. The organization still has much to prove before it can succeed in its mission.

Sections:

– Worldcoin’s Funding and Mission
– Spencer Bogart’s Perspective on Worldcoin’s Investment
– Worldcoin’s Innovative Solution for Distinguishing Unique Humans on the Internet
– Challenges in Achieving Worldcoin’s Goals
– Potential Applications and Services of Worldcoin’s Innovation
– Worldcoin’s Ability to Handle Public Perception
– Conclusion

FAQ:

1. What is Worldcoin?
– Worldcoin is an organization that aims to serve as proof of personhood in a world where it is increasingly difficult to distinguish humans from bots.
2. What is Worldcoin’s mission?
– Worldcoin’s goal is to create a global ID, global currency, and payment app that enables payment, purchases, and transfers.
3. How much funding has Worldcoin raised so far?
– Worldcoin has raised $240 million in funding, with $115 million coming from its recent Series C funding round.
4. Who led Worldcoin’s recent Series C funding round?
– The recent funding round was led by the venture firm Blockchain Capital.
5. What challenges does Worldcoin face in achieving its mission?
– Worldcoin faces many challenges, such as convincing tens of millions of people to allow it to scan their irises using futuristic, tech-dense globes and managing public perception.
6. What are the potential applications and services of Worldcoin’s innovation?
– There are a range of potential applications and services for Worldcoin’s innovation, some of which have not existed because of our inability to make a distinction between humans and bots.
7. What is Worldcoin doing to address public perception issues?
– Worldcoin is taking steps to address public perception issues by operating a capital-intensive boots-on-the-ground strategy and by having a protocol that is not yet live on the mainnet.

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