Sam Altman’s World raises $135M from Andreessen, Bain, to expand network

World, OpenAI CEO Sam Altman’s digital identification project, raised $135 million from venture capital firms Andreessen Horowitz and Bain Capital Crypto, the company said in an announcement . The capital will be used to expand World’s network of iris-scanning orbs and infrastructure in the United States, where the company said in April it would operate in six cities , and increase coverage around the globe, according to the announcement. More than 12.5 million individuals in over 160 jurisdictions have been issued a World ID, the company said. The project, which collects biometric data from individuals to establish “proof of personhood,” faces regulatory headwinds and bans in several countries. Critics of the project say that offering financial incentives for biometric data violates informed consent , sparking a debate about the ethics of centralized digital ID systems and data privacy. Major components of an iris-scanning World orb visualized. Source: World Related: Alarm bells ring in US over OpenAI’s crypto project World Scrutiny of Worldcoin continues, more governments ban project Brazil’s National Data Protection Authority (ANPD) in January ordered World to stop providing services in the country due to concerns that incentivizing biometric data collection via cryptocurrency payments violates informed consent. The ANPD upheld the decision to ban World in March, citing the company’s business model of offering cryptocurrency payments to users in return for their biometric data. World faces fines of 50,000 Brazilian reais ($8,851) per day if it continues to operate in the country. Translated statement from Brazil’s ANPD maintaining the World suspension. Source: Brazilian Government Indonesia’s Ministry of Communications and Digital (Komdigi), a data and communication watchdog, suspended World’s business license on May 4 after accusing some of the company’s subsidiaries of failing to register as digital asset service providers under the Electronic System Operator Certificate Registration (TDPSE) framework. Komdigi has launched an investigation into the project and will meet with representatives from the subsidiaries following the suspension to clarify the matter. The bans in both countries follow a December 2024 order from the Bavarian State Office for Data Protection Supervision (BayLDA), a German data protection regulator, demanding that World adhere to the European Union’s data protection standards by allowing individuals the option to easily delete their biometric data from the network. Magazine: Worldcoin fined again! Crypto store clerk runs off with $500K cash: Asia Express

Source: CoinTelegraph