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Following the surprising success of OpenAI, another project backed by its CEO Sam Altman has completed a significant funding round amid a bleak year for crypto investments.
Crypto ID project – Worldcoin – has raised $115 million in Series C funding round led by Blockchain Capital. Other participants in the funding round include a16z, Bain Capital and Distributed Global.
- Worldcoin, which comes under the umbrella company of Tools for Humanity, is a unique open-source protocol that involves scanning people’s burns.
- According to its website, biometrics are captured by the WorldCoin Orb, an imaging device that captures users’ eyesight and high-resolution images of their body and face.
- WorldCoin has had a controversial start since it first leaked in mid-2021. Despite reports of security flaws, the platform claimed to have over one million signups and between 100 and 200 Orbs in operation at any given time.
- The high-profile project also recently gained tremendous traction in China.
- reports It is alleged that fraudsters are buying iris scans from the black market to register on the platform.
- In response, WorldCoin said the company has no issues with iris scans on the black market, but has detected several cases of fraud involving its digital passport, the verification protocol used to determine real identity.
- Earlier TechCrunch Claimed that hackers were able to install password-collecting malware on WorldCoin operators’ devices.
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Following the surprising success of OpenAI, another project backed by its CEO Sam Altman has completed a significant funding round amid a bleak year for crypto investments.
Crypto ID project – Worldcoin – has raised $115 million in Series C funding round led by Blockchain Capital. Other participants in the funding round include a16z, Bain Capital and Distributed Global.
- Worldcoin, which comes under the umbrella company of Tools for Humanity, is a unique open-source protocol that involves scanning people’s burns.
- According to its website, biometrics are captured by the WorldCoin Orb, an imaging device that captures users’ eyesight and high-resolution images of their body and face.
- WorldCoin has had a controversial start since it first leaked in mid-2021. Despite reports of security flaws, the platform claimed to have over one million signups and between 100 and 200 Orbs in operation at any given time.
- The high-profile project also recently gained tremendous traction in China.
- reports It is alleged that fraudsters are buying iris scans from the black market to register on the platform.
- In response, WorldCoin said the company has no issues with iris scans on the black market, but has detected several cases of fraud involving its digital passport, the verification protocol used to determine real identity.
- Earlier TechCrunch Claimed that hackers were able to install password-collecting malware on WorldCoin operators’ devices.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
