OpenAI CEO Sam Altman’s digital identity startup gets $115 million in funding from investors to create digital IDs on the Worldcoin blockchain and combat the rise of artificial intelligence.

Tools for Humanity raised money from a16z, Bain Capital and Distributed Global to store peoples’ IDs on the blockchain by scanning their irises.

Tools for Humanity Signals Intent With New Capital

According to Tools’ CEO Alex Bania, the company will hire new employees with the new capital. Bania said the newfound funding indicates the firm’s seriousness in proceeding on a project people once mocked for being too outlandish.

He added that new artificial intelligence technology is increasing the importance of distinguishing the real from the synthetic.

Google recently announced upcoming watermarking and metadata tools to verify a file’s authenticity amid the recent flood of synthetic content.

Tools for Humanity will store identities on its decentralized Worldcoin blockchain. The project has already garnered 1.7 million registrations.

The company believes the blockchain can be useful in distributing basic income through its combination of cryptocurrencies and digital identity.

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Author: David Thomas

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