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Explaining Blockchain Capital’s Big Bet on an Eyeball-Scanning Orb

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This week, Worldcoin, an outfit that aims to serve as proof of personhood in a world where it’s harder by the day to distinguish a human from a bot, raised $115 million in Series C funding.

Led by the 10-year-old venture firm Blockchain Capital, whose bets have included Coinbase, Kraken and OpenSea, the investment brings Worldcoin’s funding to at least $240 million, even as the controversial organization — founded in 2019 by OpenAI CEO Sam Altman — has much to prove.

Yesterday, we talked with Blockchain Capital General Partner Spencer Bogart about what gave him confidence in Worldcoin, which aims to create a global ID, a global currency, and an app that enables payment, purchases and transfers. Like many others, we wondered how it can achieve its goals when, right now at least, its mission relies first and foremost on convincing tens of millions of people to allow Worldcoin to scan their irises using futuristic, tech-dense globes.

Below is part of that conversation, edited for length. You can also hear the longer conversation here.

Your co-investors in this new round…



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