Worldcoin, the largest crypto on-ramp; Said Blockchain Capital
- Blockchain Capital said Worldcoin would be the biggest crypto on-ramp.
- The company added that World App would become the most widely adopted crypto wallet.
- The venture capital firm shared their excitement about partnering with Worldcoin.
Venture capital firm, Blockchain Capital, following a fundraising program, published an official blog post on May 24, proclaiming that the open-source protocol Worldcoin would become “the biggest on-ramp to crypto “, in particular with its new primitive, the Proof-of. -Personality (PoP). Furthermore, the platform estimated that the recently launched World App, the first wallet in the Worldcoin ecosystem, would become the “most widely adopted crypto wallet”.
According to recent reports, WorldCoin has raised $115 million in the Series C funding program led by Blockchain Capital. Other attendees at the event included a16z, Bain Capital Crypto, and Distributed Global. The post listed the reasons for partnering with Worldcoin noting that Blockchain Capital was enthusiastic about “the quality of the team and their track record of solving tough problems and generating real traction.”
In the blog post written by researcher Spencer Bogart, he highlighted the potential growth of Worldcoin despite the misconceptions and negative commentary surrounding Worldcoin; Blockchain Capital admitted that the company also had a negative initial view of Worldcoin.
Bogart described the findings the company gained after a detailed study, “peering into the comprehensive documentation of Worldcoin.” He quoted:
What at first seemed like a dystopian attempt to create a global currency with privacy-violating hardware was actually something else: a fully privacy-preserving solution to a growing problem… Worldcoin has the community contributors, technology and strategy needed to support billions of users globally.
Additionally, the researcher went on to recount the effectiveness of the privacy-preserving identity protocol, World ID, which “does not collect or store anyone’s biometric information.” He added that World ID would make World App the first self-custodial wallet with a known user base, concluding that the team’s efforts would definitely make Wordcoin its ultimate success.
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