ChatGPT’s Sam Altman Receives $100M for Worldcoin Crypto Project

[ad_1]

Text size

Worldcoin was co-founded by OpenAI CEO Sam Altman. Jason Redmond/AFP via Getty Images

As artificial intelligence becomes so advanced that it looks like the real thing, the ability to distinguish between humans and bots will be crucial. An AI pioneer believes crypto can solve the problem and is closing in on another round of funding that could help bring the project to life.

Worldcoin, co-founded by OpenAI CEO Sam Altman, is set to raise $100 million from new and existing investors, according to the Financial Times. Its past investors include Andreessen Horowitz, Coinbase Ventures, and Digital Currency Group.

A Worldcoin spokesperson declined to comment.

Altman is perhaps best known for leading artificial intelligence company OpenAI, which created the generative AI app ChatGPT.

Worldcoin was conceived in 2019 and relies on basketball-sized devices that scan irises to create a unique ID for each user. The idea is that since irises are difficult to imitate, anyone can have digital proof of personality that not only distinguishes them from AI robots, but can be used as an online identity for payments and other activities.

In exchange for submitting to a scan, users can also get free Worldcoin tokens, which the promoters hope can eventually be used as global currency.

It remains to be seen whether the eye-scanning orb of Worldcoins can be widely accepted. In April, the company kicked off a nine-city orb tour to sign up new users and build excitement. He also released an app that lets people sign up using their phone numbers even if an orb isn’t available locally.

The analyzes raised confidentiality issues. Worldcoin said it does not save iris photos but rather converts them into a unique identifier that can be compared against future scans. So far, the company says 1.7 million people have signed up using the scan, including more than 38,000 in the past week.

Ultimately, Worldcoin believes the ID can be used for everything from verifying voter identities to distributing government welfare. In the past, Worldcoin executives have said it could have applications in countries where banking services aren’t widespread or citizens don’t bother to get official government-issued identification. biometric identification could replace.

The company says it could be used to keep bots away from social platforms or possibly even distribute a universal basic income to offset AI-related job losses.

Its still uncertain purpose puts Worldcoin in the same camp as dozens of other crypto projects, but if the potential fundraising of $100 million is any indication, a project capable of marrying AI with crypto is a catnip. for venture capitalists.

Email Joe Light at [email protected]

[ad_2]