Worldcoin to give everyone on earth its cryptocurrency

A new cryptocurrency company wants to give every person on earth a piece of its special cryptocurrency but there is a condition.

Business Stance
2 min readJun 30, 2021
A photo of Sam Altman, CEO of Worldcoin
Sam Altman, CEO of Worldcoin

Worldcoin is a cryptocurrency startup company under the leadership of the former CEO of Y Combinator, Sam Altman, Alexander Blania and Max Novendstern. Worldcoin announced its intention to give every person in the world its cryptocurrency on the condition that they get their eyes examined.

Worldcoin is said to have created an orb-shaped device that is capable of scanning an individual’s iris to create a person identifier that is peculiar to that person alone. The aim of this is to prevent fraudulent activities.

The company has began testing this device in different cities around the world. Persons who volunteer to a part of the test are paid in digital currencies.

Sam Altman stated that Worldcoin’s goal is to circulate money around the world equally. He is currently the company’s first investor and he doesn’t have any autonomy over its daily operations.

Alexander Blania revealed that although Worldcoin working towards a formal launch, they are working harder on perfecting all that it would take to circulated cryptocurrency to everyone in the world as soon as possible.

So far, Worldcoin has successfully raised $25 million through funding rounds and some of its investors are Reid Hoffman, Day One Ventures, Andreessen Horowitz and others.

Worldcoin revealed that its headquarter is going to be in San Francisco, USA.



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