Worldcoin, a project that aims to build a decentralized ID system, 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 was founded in 2019 by Sam Altman, the CEO of OpenAI, and Evan Cheng, a former product manager at Google. The company’s mission is to “create a world where everyone has a verifiable identity.”
Worldcoin’s decentralized ID system is based on zero-knowledge proofs. Zero-knowledge proofs allow users to prove their identity without revealing any personal information. This makes it possible to create a secure and private ID system that is resistant to fraud.
The funds raised in the Series C round will be used to support the development of Worldcoin’s decentralized ID system and to onboard new users.
Worldcoin is currently available in beta version in a limited number of countries. The company plans to expand its availability to more countries in the coming months.
Worldcoin’s decentralized ID system has the potential to revolutionize the way we interact with the digital world. By providing a secure and private way to prove our identity, Worldcoin could make it possible for us to do things like access financial services, vote online, and travel without having to worry about our personal information being stolen.