OpenAI co-founder Sam Altman’s $200M bet that crypto will solve AI threat

OpenAI’s CEO, Sam Altman, is near securing an extra $100 million in financing for his crypto challenge Worldcoin, based on a report by the Monetary Occasions.

Worldcoin already acquired $100 million in 2022 through a private token sale, led by the likes of Andreessen Horowitz at a $3 billion valuation.

The open-source protocol aimed toward utilizing IRIS scanning to safe a brand new digital forex is powered by the Worldcoin pockets app, World App, which launched Could 14.

In response to the FT report, the funding will likely be “sourced from each current and new buyers.” Nevertheless, the valuation for the spherical shouldn’t be instantly obvious. But, it was famous that the brand new funding shouldn’t be part of the unique non-public token sale.

The crypto wager to assist AI job displacement

Altman’s Worldcoin, led by The Worldcoin Basis (WF), introduced on Could 11 that Worldcoin will launch on Optimism, and Worldcoin executives informed the FT that the challenge’s focus can be two-fold:

“Distinguishing between people and bots, and offering a type of common fundamental revenue which could offset job losses brought on by AI.”

There have been requires a model of common fundamental revenue from some within the AI house in gentle of  generative AI fashions exhibiting an evident potential to create job displacement in lots of sectors. Staff within the “information sector” are straight threatened by present workflows that don’t comprise generative AI improvements.

OpenAI exploded to over 100 million customers in record time, and it seems that Altman is expediting the answer to the issue he has helped create by way of Worldcoin. A latest TechCrunch article on the subject commented that “flash ahead a couple of years, and will probably be unattainable to know if somebody is speaking with one other mortal or a neural community.”

Altman believes that the answer to the existential risk of AI is thru crypto and blockchain. By way of integrating biometric IRIS scanning and distributed ledger know-how, Worldcoin is tackling what is certain to be one of many largest issues humanity has confronted; find out how to enable AI to result in a greater, fairer, extra equitable world — with out the human price of mass job displacement.

The choice to launch on Optimism was defined in a WF article saying its want to assist the push towards the “Superchain imaginative and prescient” for Optimism.

“The Worldcoin Basis and the early protocol contributors at Instruments for Humanity (TFH) are saying a dedication to assist the Optimism Collective in bringing the Superchain imaginative and prescient to life.”

Worldcoin claims to have over 1.7 million customers, 60,000 each day pockets transactions, and 25,000 each day World ID checks because the launch of the World App.

Curiously, because the Worldcoin Basis calls to make Optimism a “Superchain,” others have already theorized the potential for ChatGPT to turn out to be a “Tremendous App” with the addition of plugins.

Together with Elon Musk’s challenge X and Tencent’s WeChat, the race for the AI-powered Tremendous App is on. Nevertheless, the OpenAI ecosystem will now be within the race for the “Superchain,” backing crypto to offer it the aggressive edge within the “tremendous” market.

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