Worldcoin, the Biggest Onramp to Crypto; Says Blockchain Capital 

• Blockchain Capital commented that Worldcoin would be the biggest onramp to crypto.
• The firm added that World App would become the most widely adopted crypto wallet.
• The venture capital firm shared its excitement about partnering with Worldcoin.

The venture capital company, Blockchain Capital, following a fundraising program, released an official blog post on May 24, proclaiming that the open-source protocol Worldcoin would become “the biggest onramp to crypto”, especially with its new primitive, the Proof-of-Personhood (PoP). In addition, the platform opinionated that the recently launched World App, the first wallet for the Worldcoin ecosystem, would evolve as the “most widely adopted crypto wallet”.

As per recent reports, WorldCoin has raised $115 million in the Series C funding program led by Blockchain Capital. The other participants of the event included a16z, Bain Capital Crypto, and Distributed Global. The post enlisted reasons for partnering with Worldcoin pointing out that Blockchain Capital has been excited by “the quality of the team and their track record of solving hard problems and generating real traction”.

In the blog post written by the researcher Spencer Bogart, he stressed the potential growth of Worldcoin despite the misconceptions and negative comments that surround Worldcoin; Blockchain Capital admitted that the firm too had an initial negative approach to Worldcoin.

Bogart pictured the findings the company acquired after a detailed study, “poring over Worldcoin’s extensive documentation”. He cited:

What at first appeared to be a dystopian attempt to create a global currency with privacy-violating hardware was actually something else altogether: an entirely privacy-preserving solution to an increasingly pervasive problem… Worldcoin has the contributor community, tech, and strategy necessary to support billions of users at global scale.

Further, the researcher went on to narrate the effectiveness of the privacy-preserving identity protocol, World ID that “does not collect or store anyone’s biometric information”. He added that World ID would make the World App the first self-custodial wallet with a known user base, concluding that the efforts of the team would definitely make Wordcoin reach its ultimate success.

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