Worldcoin, a decentralized identity startup founded by OpenAI CEO Sam Altman, has raised $115 million in a Series C funding round led by Blockchain Capital. The round also included participation from Andreessen Horowitz, Bain Capital Crypto, and Distributed Global.
Worldcoin aims to create a decentralized identity system that is more secure and private than traditional ID systems. The company’s technology uses zero-knowledge proofs to verify a user’s identity without revealing any personal information.
Worldcoin’s decentralized ID system could have a number of benefits. It could make it easier for people to access financial services, healthcare, and other essential services. It could also help to protect people’s privacy and prevent identity theft.
In addition to its decentralized ID system, Worldcoin is also developing a crypto wallet called WorldApp. WorldApp is a gas-free wallet that allows users to store and transfer a variety of cryptocurrencies, including USD Coin, Dai, Ether, Worldcoin, and wrapped Bitcoin.
Worldcoin is currently available in beta version and has already onboarded over 2 million users. The company plans to launch its blockchain protocol and begin recording transactions in the next few weeks.