Worldcoin, a Crypto company founded by Sam Altman, former head of YC, has raised $25 million, including A16Z, CoinbaseVentures

On June 29, Sam Altman, former head of seed investment firm Y Combinator, raised $25 million in funding for Worldcoin, Coinbase Ventures, Andreessen Horowitz (A16Z), LinkedIn founder Reid Hoffman, Day One Ventures, etc. Worldcoin aims to help economies transition to cryptocurrencies in a novel way, and plans to launch a global digital currency for everyone on the planet. Worldcoin plans to use a spherical device it has developed to scan the iris to build a unique PIN that will make the digital currency each person receives unique. The basketball-sized device maintains privacy and provides overall transparency to the no-access blockchain while confirming each person's unique identity. Currently, there are fewer than 20 prototypes of the device, which is being tested on a small scale, and WorldCoin pays volunteers bitcoin in exchange for some feedback on the digital currency offering process. Worldcoin says the device currently costs $5,000, but costs are falling fast as the process improves.