Ready to start recording trades soon
Cryptocurrency startup Worldcoin is preparing to begin recording transactions on the blockchain within the next six weeks. Relatedly, negotiations are underway to raise approximately 13.6 billion yen ($100 million) in funding. Financial Times and others reported.
Worldcoin is a cryptocurrency project led by Sam Altman, co-founder and CEO of ChatGPT developer OpenAI, and physicist Alex Branier.
Sources familiar with the matter said Worldcoin is in talks with both existing investors and new investors to raise capital.
Existing investors include VC (venture capital) Khosla Ventures, which invests in advanced technology, cryptocurrency VC Andreessen Horowitz (a16z), Coinbase Ventures, and Sam Bankman-Fried, who is currently under surveillance by the authorities. There was an FTX CEO and so on.
Worldcoin has raised about 3.3 billion yen in 2021 and about 13 billion yen in March 2022.
According to reports in February, Worldcoin was set to raise up to about ¥16.3 billion ($120 million) next time at a valuation of about ¥407.5 billion ($3 billion). It is expected to take the form of a sale of shares and token warrants.
connection: Founder of OpenAI to raise funds with virtual currency project Worldcoin
Dealing with problems caused by AI sophistication
Worldcoin is also presented as addressing two problems caused by the increasing sophistication of artificial intelligence (AI): “distinction between humans and robots” and “job losses caused by AI”.
As for AI stealing human jobs, participants can scan the retina of their eyes with a volleyball-sized biometric device called “Orb” to prove that they are “human” and use virtual currency. It is a mechanism that allows you to receive
The idea is to distribute virtual currency as a basic income. Tokens will be distributed in the form of Ethereum (ETH) and Bitcoin (BTC) in addition to Worldcoin tokens.
Altman’s other business, OpenAI, is making headlines around the world for its natural language interface, ChatGPT. It is interesting to note that while developing technologies that are feared to deprive people of their jobs, they are also working on projects to deal with the loss of jobs due to AI.
connection: Germany starts investigation on ChatGPT’s “data protection” = report
What is ChatGPT
Interactive AI language model. It is designed so that users can get answers to their questions as if they were talking to humans, and it is expected to be used for report creation, software code design, etc. The number of users exceeded 1 million users in less than a week after its release, and it is attracting attention.
Worldcoin just released its first wallet “World App” on the 8th. The beta version is currently built on Polygon, while the full version is expected to be built on an Ethereum rollup.
Currently supported currencies are stablecoins USDC and DAI, Ethereum, Wrapped Bitcoin (WBTC) and Worldcoin (WLD). Uniswap is integrated into the wallet and token trading is also possible.
connection: “Worldcoin” aiming to distribute virtual currency to the whole world releases a wallet
What is rollup
A scaling solution that reduces network congestion by processing some transactions off-chain (outside the blockchain) while leveraging the security of the main blockchain.