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Sam Altman’s Worldcoin is Making Waves with Iris-Scanning Tech for Orb Operators

Fortune Crypto | Ben Weiss | May 15, 2023

Worldcoin Orb - Sam Altman's Worldcoin is Making Waves with Iris-Scanning Tech for Orb Operators

OpenAI's CEO Sam Altman is nearing $100 million in funding for his cryptocurrency project, Worldcoin.

  • Worldcoin's Unique Approach to Identity Verification: Spearheaded by Sam Altman, the ambitious Worldcoin project integrates an innovative iris scanning technology for human identity verification, making it stand out in the burgeoning crypto marketplace.
  • Public Launch and Wallet Application:
    • With the planned public launch in H1 2023, the Worldcoin project aims to make a splash in the crypto world.
    • The recent release of World App, a crypto wallet supporting major cryptocurrencies such as Bitcoin, Ethereum, and of course Worldcoin, paves the way for a smooth user onboarding experience.
  • Investment:  Despite a sharp drop in crypto venture funding from 2022 to 2023, Worldcoin stands as a beacon of optimism in the sector, attracting a total of $100 million in funding from new and prior backers, including a16z crypto and Khosla Ventures.

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  • The project's documentation says:
    • "It is core to the mission of Worldcoin that the network is not built and run by a single entity, but instead by entrepreneurial individuals all around the world who apply to receive an Orb to run independent operations in their communities.
    • We call these individuals Orb Operators and give them the autonomy to build their operations from the ground up, doing everything from running their own marketing campaigns to collaborating with local partners."
    • "Worldcoin was conceived from the belief that universal basic income (UBI) will play a crucial role in the future, and gaining access to the internet economy will grow increasingly vital, as articulated by CEO Alex Blania to TechCrunch.
    • This outlook, shared by Blania and Sam Altman, implies a future where automation displaces conventional jobs, leading to a uniform financial status for all, regardless of individual aptitudes, abilities, interests, and knowledge.
    • While this concept is intriguing, it suggests a future where financial equality might overshadow personal uniqueness and expertise."

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NCFA Jan 2018 resize - Sam Altman's Worldcoin is Making Waves with Iris-Scanning Tech for Orb OperatorsThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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