CoinFund, a venture capital firm backing the project, believes that Worldcoin (WLD) could distribute crypto more widely than Bitcoin. Jake Brukhman, founder and CEO of CoinFund, said on CoinDesk TV on Thursday, One of the core propositions of Worldcoin is to build a system that can create a distribution of a cryptocurrency that’s even wider around the world than Bitcoin is today. Austin Barack, a partner at CoinFund, added in a blog post this week that Worldcoin could onboard billions of users to crypto markets. As of the time of writing, 941,000 World App wallets have been created.
At its core, Worldcoin is an identity protocol, aiming to verify that users are unique and human using iris scans, artificial intelligence, and zero-knowledge proofs. The network launched on Monday, sparking questions around privacy and its tokenomics. Despite this, Sam Altman, founder of OpenAI, claimed on Twitter Wednesday that one person signs up every eight seconds around the world.
CoinFund invested in Worldcoin in February 2021 in its series A round alongside a16z and Multicoin Capital. Brukhman said, What attracted CoinFund to Worldcoin is its large global vision and Web 3-focused technology. The CEO is not worried about the token not being available in the U.S. at the moment due to regulatory concerns, and believes that WLD will eventually be available stateside.