Worldcoin Foundation's $5M Grant for 'Equitable Systems': A Deep Dive

• Worldcoin Foundation Launches $5 Million Community Grants Program
• Grants Target Larger Community Efforts, Not Just Developers
• Funding for Research and Development on Privacy and Biometrics
• Unfazed by Controversies, Worldcoin Remains Committed to Decentralization
• Related Article: Worldcoin's Mainnet, WLD Token Goes Live

Worldcoin Foundation Launches $5 Million Community Grants Program

The Worldcoin Foundation, a non-profit organisation backing the development of the Worldcoin protocol, publicised a $5 million community grants initiative, dubbed Wave0, on Wednesday. Such grants are intended to enable developers to concentrate on creating resilient technology and fairer systems on Worldcoin, as per an initial press release draft. The Foundation is set to commit $5 million in the form of WLD token - Worldcoin protocol's native token that operates on the Ethereum$2,315 -2.42% blockchain - across three different grant tracks.

Grants Target Larger Community Efforts, Not Just Developers

Remco Bloemen, Protocol Head at the Worldcoin Foundation, emphasised in an interview that the grants are targeting a broader community initiative, beyond just developers. The goal is to increase awareness and education about the importance of the technology's mission to address issues such as income inequality, governance, and other existential risks.

Funding for Research and Development on Privacy and Biometrics

The grants are to be allocated to projects delving into research and development efforts, particularly those at the crossroads of privacy and biometrics, explains Bloemen. Potential grant recipients could also include those who generate use cases that make use of Worldcoin and World ID.

Unfazed by Controversies, Worldcoin Remains Committed to Decentralization

The announcement follows a recent controversy involving Sam Altman, Co-founder of Tools for Humanity, the primary development firm behind Worldcoin, and OpenAI - a situation that saw Altman initially removed, then rehired as CEO. Despite the OpenAI turmoil, Worldcoin remains steadfast in its commitment to decentralization, according to Alex Blania, Co-founder and CEO of Tools for Humanity, the leading developer of the protocol. The project officials had earlier stated that Altman's role at Worldcoin had remained untouched by the governance chaos at OpenAI.

Blania added, In five years, neither Sam or me will matter at all for what happens to Worldcoin. It's a process and that's kind of how we think about it. He further pointed out that the Worldcoin's approach is fundamentally different from that of OpenAI.

Related Article: Worldcoin's Mainnet, WLD Token Goes Live

Edited by Jonathan Stoker