OpenAI’s Sam Altman wants to disrupt crypto, secures $100M for Worldcoin

OpenAI’s CEO Sam Altman is close to raking in $100 million in funding for Worldcoin, which uses iris-scanning technology to create a global cryptocurrency, reports the Financial Times.

Worldcoin aims to create a global identification system using the technology to offer free access to its cryptocurrency.

The money would be used to improve Worldcoin, a universal cryptocurrency that gives away free coins in exchange for an eyeball scan from users.

Notably, the company has already received backing from prominent entities such as Khosla Ventures Andreessen Horowitz’s crypto fund, and FTX founder Sam Bankman-Fried.

In a previous token sale, Worldcoin raised $100 million, valuing the company at around $3 billion. Worldcoin plans to roll out its blockchain protocol and begin transactions within six weeks. However, critics have raised privacy concerns associated with storing biometrics data.

Altman has invested in ventures such as Helion Energy, which focuses on nuclear fusion, and Retro Biosciences, which specializes in biotechnology.

If Helion is successful it will reduce the cost of power to $0.01/Kwh.

His other ventures include co-founding Loopt, serving as Y Combinator president, and angel investing in Airbnb, Stripe, Reddit, and Pinterest.