Sam Altman, CEO of OpenAI, founded the ambitious project Worldcoin, which aims to build a diverse global identification and financial network. The project wants to encourage everyone’s participation in the global economy, regardless of their social or geographic background. In this article, you can access a comprehensive review of Worldcoin crypto and its token, WDC.
A Comprehensive Overview of Worldcoin Crypto – 2023
A global identification and financial network for everyone is what Worldcoin, a cryptocurrency initiative, seeks to establish. It scans people’s irises with a gadget called an Orb to verify their uniqueness as humans and pays them in Worldcoin tokens as a reward.
Additionally, it features a World App that allows for transfers, purchases, and payments using Worldcoin and other virtual currencies. 10 billion tokens will be distributed overall by Worldcoin, with 80% going to users, when it launches in the first half of 2023.
Who Founded Worldcoin Crypto?
One of the original Worldcoin Foundation’s founders is Sam Altman, the brainchild behind OpenAI and a former president of Y Combinator. Developers, economists, and technologists from all around the world promote Worldcoin, a community-driven open-source project. The project is managed by the Worldcoin Foundation.
The Birth of Worldcoin Crypto
Beginning in early 2020, Alex Blania began collaborating with Max Novendstern and Sam Altman, who founded Worldcoin. They were motivated by the straightforward thought experiment, “What if there were a way to freely distribute shares of a new digital token to everyone on the planet?” According to the three creators, sending and receiving payments would be simpler if more individuals held the currency.
Universal fundamental income, which is essentially regular money from the government or organization for everyone to meet basic requirements, was the founders’ ambition for Worldcoin. Altman even dreamed that the coin would one day be used to equally disperse the enormous revenues made by AI systems.
Fundamental Components of Worldcoin
The platform has three main components. These components allow Worldcoin crypto to develop and spread more easily.
World ID
On Ethereum, there is a system for digital identification that confirms your individuality while protecting your privacy. You may sign into numerous platforms without providing any personal information by using World ID as a passport to access online services.
Worldcoin
People receive this token for free merely because of their uniqueness. The token has functional uses and will play a part in future Worldcoin ecosystem governance.
World App
This is the first wallet in the ecosystem. It permits cross-border exchanges of traditional currencies, digital assets, and Worldcoin tokens. Additionally, it promotes the operation of the new financial system and supports the use of World ID for private digital identity verification.
The World App enables users to claim Worldcoin tokens and send virtual currency everywhere, bringing digital identification and global banking to everyone. It also simplifies the authentication process with World ID.
Tokenomics
The currency of Worldcoin is WDC. Users can obtain WDC by mining it. The total supply of Worldcoin crypto is 265,000,000. At the time of writing, the token is trading at $0.04452, according to CoinMarketCap. The token price decreased by 4.45% in the last 24 hours
Worldcoin Crypto’s Series C Funding Round
The project has received a nine-figure investment at a time when venture capital investment in the cryptocurrency sector is relatively scarce. Worldcoin raised $115 million in Series C funding led by Blockchain Capital. In addition, a16z, Bain Capital Crypto, and Distributed Global also participated in the round.
With the funding, the Worldcoin crypto team said they would make their cryptocurrency wallet, the World App, even more comprehensive. Thus, the Worldcoin ecosystem will be able to become more advanced and renewed.
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