Secure Your Digital Identity: Worldcoin Raises $115M for Decentralized ID

• Crypto project Worldcoin has reportedly raised $115 million in a Series C round
• The funds will be used to support its decentralized World ID and recently released crypto wallet, World App
• Currently available in beta version, the project has onboarded over 2 million users.

Crypto Project Worldcoin Secures $115M for Decentralized ID

Crypto project Worldcoin has secured $115 million in a Series C fundraising round led by Blockchain Capital. Venture capital firms Andreessen Horowitz, Bain Capital Crypto, and Distributed Global are also investors in the round. The funds will be used to support its decentralized World ID and recently released crypto wallet, World App.

Co-Founded by OpenAI’s CEO Sam Altman

Worldcoin is co-founded by OpenAI’s CEO Sam Altman and developed by developers of Tools for Humanity. It aims to tackle problems stemming from the growing complexity of artificial intelligence such as proof of personhood in the digital age. Currently available in beta version, the project has onboarded over 2 million users so far.

World App: A Gas-Free Crypto Wallet

In early May 2021, the project launched the World App – a gas-free crypto wallet for verified humans that works on Android and iOS operating systems. It currently runs on Polygon network enabling users to hold and transfer USD Coin USDC , Dai DAI , Ether ETH , Worldcoin (WLD) and wrapped Bitcoin (WBTC). By using zero-knowledge proofs, it verifies that the user is human without revealing underlying data.

On-And Off Ramps Within The Wallet

The app provides on-and off ramps within the wallet through partnerships with regulated crypto exchanges MoonPay and Ramp. Additionally, coins can be swapped through a built-in Uniswap integration inside the app itself. Finally, users can send & receive crypto through their contacts‘ phone numbers via this platform too.

Upcoming Blockchain Protocol Launch

The company is preparing to launch its own blockchain protocol shortly which will enable it to record transactions directly on its platform rather than relying on an external network like Polygon or Ethereum chains where it currently operates via smart contracts written thereon.